I entered my "other self-employed income"-some of sales I made were cash. But the free program is telling me I can't contribute to a Roth IRA because I have no income.

[a2business]

Why isn't my self-employed income counting as income? There is nowhere else to enter cash income other than in "other self-employed income"

[VolvoGirl]

It doesn't use your self employment income.   It goes by the Net Profit on Schedule C .

For an IRA contribution.  If you only have self-employment income you can only contribute up to your net profit reduced by the deduction allowed for one-half of your self-employment taxes.  See IRS publication 590 http://www.irs.gov/pub/irs-pdf/p590a.pdf

So check 1040 Schedule 1 line 15.  You have to deduct that amount from your Schedule C Net Profit.  That will give you the allowed contribution for the 1099NEC income.

[VolvoGirl]

By the way, what Free version?  Looks like you are in the Self Employed version.  It is not free.  You can not enter self employment into the free version.   

[a2business]

Thanks so much for trying to help and responding quickly!  I'm still confused. My net profit was $70k+. That's my only income. Shouldn't I be able to contribute $6k to a Roth IRA?

[a2business]

I'm using an online version of turbo Tax that doesn't charge until you efile. It's the Self-Employed version but I haven't paid anything for it yet. That's what I was trying to say.

[VolvoGirl]

Did you fill out Schedule C for your income?   Are you married?   Be sure Schedule C and your IRA contribution are for the same person.

[a2business]

Single. I thought TurboTax would generate a Schedule C according to the self-employment income, etc., I entered? I've used Turbotax before, that I purchased/download to my computer, and it's always generated the applicable Schedules and forms after I've entered the info. This is my first time trying to use the online version, so maybe it's a little different. Thanks for your patience.

[VolvoGirl]

Better look at your return and see what's on schedule C.  I don't know why it's not letting you have an IRA.  Before filing you can preview the 1040 or print the whole return
https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f...

[a2business]

Will do - thanks for your help!