JulieH1
New Member

Retirement tax questions

With a $10,000 gross income, this looks like a business and not a hobby.  

I assume you have not incorporated or gotten an EIN ( a business number to file taxes) so you will do the tax form with your Social Security Number.  

You need to file a tax return using a version of Turbo Tax which includes a Schedule C.  On the Schedule C you can add your expenses and how much income you received.   After the two are compared, Turbo Tax will tell you if you had a profit.  You will pay taxes on the profit.

To file a Schedule C or C-EZ using an online product, you'll need TurboTax Self-Employed or TurboTax Live. Both these versions include Schedule C.

You can also use the CD/download version of TurboTax Deluxe, Premier, or Home & Business to file schedules C or C-EZ. These versions can be purchased online and must be installed to your computer.

 

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