topic Calculating write off expenses in Get your taxes done using TurboTax

Calculating write off expenses

missscarter — Sat, 08 Mar 2025 02:18:23 GMT

How am I able to calculate my write off expenses as an independent contractor who:

1)did not receive a 1099 – NEC because I made less than $600

2)unable to connect my checking account to TurboTax to automatically calculate for me

3)I kept no records of my expenses and unable to reference my 1099-NEC for info because again, I did not receive one.

Re: Calculating write off expenses

DawnC — Sat, 08 Mar 2025 02:28:37 GMT

You don't need a 1099-nec to report self-employment income - How do I report income from self-employment? You can use the cash/check entry to report self-employment income that you did not get a tax form for.

What self-employed expenses can I deduct?

You can deduct expenses that are related to the self-employment income you report on Schedule C.

Where do I enter Schedule C?

Re: Calculating write off expenses

VolvoGirl — Sat, 08 Mar 2025 02:36:22 GMT

You don't need to get a 1099NEC or 1099Misc or 1099K. Even if you did you can enter all your income as Cash. Only the total goes to schedule C.

How to enter income from Self Employment

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

You really need to keep good records of your income and expenses. How to enter self employment expenses

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-self-employment-business-expenses-like-home-office-vehicle-mileage-and-supplies/00/27109

Here is some IRS reading material……

IRS information on Self Employment

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center

Pulication 334, Tax Guide for Small Business

http://www.irs.gov/pub/irs-pdf/p334.pdf

Publication 535 Business Expenses

http://www.irs.gov/pub/irs-pdf/p535.pdf

Turbo Tax Self Employed Tax Hub
https://turbotax.intuit.com/personal-taxes/self-employment-taxes

Turbo Tax Self Employment info
https://turbotax.intuit.com/tax-tips/self-employment-taxes/beginners-tax-guide-for-the-self-employed...