Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 5, 2019 10:22:05 PM

I was told to enter extra income on form 1040 line 21. Where can I find this?

0 1 2012
1 Replies
Level 15
Jun 5, 2019 10:22:09 PM

What you were told is not quite true.

"Other income" does  go on line 21 of form 1040. "Other income" is anything that doesn't fit into one of the other assigned income categories. Most "extra" income will fit into one of those categories.  You need to better describe the source of this extra income, to determine how it should be entered on your tax return.

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) on any profits greater than $400.