Retirement tax questions

Yes, you will pay SE taxes on any Sch C profits ...


To enter your self employed income &  business expenses:

1. Type “Schedule C” in the Search box.

2. Select the “Jump to” link.

o   If this is your first time working in this section: You’ll be asked some questions about your self-employment work, and then have a chance to enter your expenses.

o   If  you have already entered some information about your self-employment work:

§ Select Edit next to your business, and confirm your general business info if asked.

§ Select Add expenses for this work OR, if this your first time entering expenses, select Continue on the Let's get the deductions...screen.

§ Follow the screens to enter your expenses.

TurboTax CD/Download Home & Business - Follow these instructions to enter your expenses.

 

Additional Information

Remember to enter 1099-MISC, 1099-K, cash, and personal check income from your self-employment.