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Retirement tax questions
If this was a one-time only event where you earned money for writing an article, the simplest way to include the income on your tax return is by entering it as hobby income.
Even if you expect to continue to write in the future where you would be considered to be a self-employed writer, for 2018 and earning only $100 you would not be subject to any self-employment tax. However, if you were actually starting your business as a writer in 2018, then you would want to report the income and any expenses on Schedule C (which would require the Self-Employed version of TurboTax online).
Use the following steps to go directly to the hobby income section to enter your income:
- On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
- This opens a box where you can type in “hobby income, loss” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
- The search results will give you an option to “Jump to hobby income, loss”
- Click on the blue “Jump to hobby income, loss” link
June 6, 2019
12:29 AM