Working on my daughter's taxesand have some questions.... she purchased a computer to do graphic design & took a course in the same to prepare for freelancing total was about $3k... these expenses were incurred in 2022 but she did not have income from freelancing until 2023. (She did have W2 income in 2022.) Also, when she first started freelancing she provided her SSN, but now would like to get a TIN # in 2023 so she doesn't have to give out her SSN.
Questions:
(1) Should she claim her start-up cost for freelancing in 2022 even though she had no income from that business -or- can she claim it in 2023 when she has income from freelancing even though the expenses were incurred in 2022.
(2) in 2023 she'll likely have 1099-NEC's some with her SSN & some with her TIN... is that a problem? Does she have to do it like a new business again when she gets her TIN?
(3) if we record her startup cost in 2022 and I use her name as the 'business name' on the schedule C, then in 2023 when she gets her TIN & decides on a name for her business & I use that name on the schedule C rather than her name, will that be a problem?
(4) I assume on schedule C we continue reporting it under her SSN as the only other number on the form is for an EIN which doesn't apply to her, she has no employees. Is that correct?
(4) Will there be anywhere in Turbo Tax where we need to reference her TIN?
Sorry for so many questions... just trying to get it all out there so I can move forward with her taxes. I appreciate any input or advice.
Thank you!
