I own an LLC. My credit income was not high enough to generate a 1099K. My check/cash income is over $600. Combined, it's $24K. How do I file this income?

Forum|Forum|7 years ago
June 1, 2019
1 reply
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I do not want to forgo reporting income. I do not want to double-report income. My guess is to report both pieces separately: 1099K for credit transactions and 1099MISC for cash/check, even though these forms do not exist (for me) in actuality.

TurboTax Self Employed iOS

Best answer by PeterM

You would just total up all cash, checks, and credit card income deposits that you received as income in 2016 and enter them, along with your business expenses, on your Schedule C in Turbo Tax. You can list them separately on one Schedule C, or as a total on the same Schedule C (see the screenshots below). To do this in Turbo Tax, follow these steps...

Log into your tax return. Use the search box in the upper right hand corner. Type in "schedule c" in the box. This will bring up the "Jump to schedule c" link...click that link. From here Turbo Tax will ask you some specific questions about your business. You'll be led through a different screens asking you more questions regarding your business. You'll also be taken to a screen to enter you income. Finally, Turbo Tax will bring you to the screen for you to choose what expenses you would like to enter onto your tax return.

PeterMAnswer

Level 7

Log into your tax return. Use the search box in the upper right hand corner. Type in "schedule c" in the box. This will bring up the "Jump to schedule c" link...click that link. From here Turbo Tax will ask you some specific questions about your business. You'll be led through a different screens asking you more questions regarding your business. You'll also be taken to a screen to enter you income. Finally, Turbo Tax will bring you to the screen for you to choose what expenses you would like to enter onto your tax return.