topic General income vs Gross income in Get your taxes done using TurboTax

General income vs Gross income

alwaysaladysher — Thu, 06 Jun 2019 09:29:51 GMT

Is General income the same as Gross income? As I understand the Gross income is the total retail minus the commission value of my sales minus the expenses. I'm trying to use your home business product and I don't know the number to enter for general income.
Also, I can't find how much I paid last year to file with your company.
Thanks.

No, it's not the same thing. General Income is the income...

IsabellaG — Thu, 06 Jun 2019 09:29:52 GMT

No, it's not the same thing. General Income is the income from regular business operations that isn't reported on a 1099-MISC, and isn't interest income or some other type of unusual income. It's one of the amounts that is used to compute Gross Income.

See the information below for information about how to find last year's TurboTax fees.

https://ttlc.intuit.com/replies/3302128

"As I understand the Gross income is the total retail min...

Critter — Thu, 06 Jun 2019 09:29:54 GMT

"As I understand the Gross income is the total retail minus the commission value of my sales minus the expenses."

Gross income is your total annual income from all sources for the business ( you can break out the 1099s in the program but it is not necessary).

Then your gross income - expenses = Net income or loss.

Re: General income vs Gross income

godelba — Thu, 16 Jul 2020 00:25:48 GMT

I have a 1099-k and stuck weather I should file under 1099-misc or file a Profit and loss or am I getting confused with the income and deductions?

gmolinar