pk
Level 15
Level 15

Self employed

@RodEgby , under current laws, tips are treated as ordinary & active income.  So on your schedule-C, you show this as gross income.   TurboTax will walk you through filling out the  Schedule-C.  Note that the net income from Schedule-C  will trigger filing of Schedule -SE   and therefore the SECA tax  ( this is the equivalent of FICA taxes  paid by wage earners except it is at 15.3% of the  income --- Social Security and Medicare tax and because you have no employer to share with ).

 

Does this make sense ?   Is there more I can do for you ?