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wdemps1
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Do i need to claim booth rental as income on my business taxes

 
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Do i need to claim booth rental as income on my business taxes

The IRS requires taxpayers to report all income.

If you earned booth rental income in 2016 you should report it on your Schedule C.

To enter your rental income:

  • Type in self employed income in the Search box, top right of your screen

  • Click first category Jump to self employed income

  • Arrive at the Here's the business info we have so far page, click Edit

  • Arrive at the Your Business page and follow your prompts from there to enter your business income and expenses

    To enter business income not on a 1099-MISC, follow the above instructions, then:

  • On the Your Business page, click Start or Update next to Business Income

  • On the Business Income page, click Start or Update next to General Income

  • Enter income not designated on a 1099-MISC on the next page, Any General Business Income?

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