JamesG1
Expert Alumni

Retirement tax questions

In TurboTax Online, Federal withholding tax not already entered on a W-2 or 1099 may be entered as follows:

 

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Deductions & Credits.
  • Click the down arrow to the right of Estimates and Other Taxes Paid.
  • Click to the right of Income Taxes Paid.
  • Click the down arrow to the right of Other Income Taxes Paid.
  • Click to the right of Withholding not already entered on a W-2 or 1099.
  • Click Yes.

If the income reported on the IRS form 1099-Misc is self-employment income reported on Schedule C Profit or Loss From Business, a self-employment tax would be computed for the income on IRS form SE.

 

Is this what you are referring to?  Or something else?

 

To report the income as self-employment income in TurboTax Premium Online, follow these steps:

 

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • Click on the drop down arrow to the right of Self-employment.
  • Click to the right of Self-employment income and expenses.
  • At the screen Your 2024 self-employed work summary, click Edit.
  • At the screen Here's your info, select Add income for this work.
  • Select Form 1099-MISC.

 

 

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