If you are self-employed, then you will fill out a schedule C to report your business income (cash) and expenses.
Here's how to report your business in TurboTax Online:
- Navigate to Federal > Wages & Income > Self-employment income and expenses > Start
- Answer "Yes" to the question "Did you have any self-employment income or expenses?"
- Give a description of the business, such as "Exotic Dancing" or a description of your choice
- Continue until the interview asks "how does your work fit into your big picture?", based on the information you provided, it's a business.
- Answer all the informational questions until you get to the screen "Let's enter the income for your work." Here, enter that you received common income- Other self-employed income, including cash and checks; then enter what you were paid.
- Once you've entered your income, type in your expenses in the proper categories, TurboTax Online will recommend popular categories, but refer to your records to ensure you are deducting all of your expenses.
