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Level 1
June 1, 2019
Question

I do lawn clean up stuff like that how do i claim that income

  • June 1, 2019
  • 1 reply
  • 1 view
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1 reply

Hal_Al
Level 15
Level 15
June 1, 2019

Yes.

The IRS considers undocumented cash income (no W-2 or 1099-MISC), for work performed, to be self employment income. Enter at "Business Income & Expenses" and TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & medicare tax) on any profits greater than $400.

You report the income from your own records. 

You may have to upgrade to the Self Employment version of TT. If you have no expenses to deduct, There's a chance you may be able to use TT Deluxe or Premier. Enter your income at the 1099-Misc screen (even if you didn't get a 1099-misc). You do not need the payer's ("employer's") Employer ID Number (EIN).

In TurboTax (TT), enter at:
- Federal Taxes tab

 - Wages & Income

Scroll down to:

   - Other Common Income

      -Income from Form 1099-Misc

When asked why you got the 1099-Misc, select “Freelancer or Independent contractor”

 

https://ttlc.intuit.com/questions/1901317-schedule-c-ez-net-profit-from-a-business