https://ttlc.intuit.com/community/taxes/discussion/i-was-a-babysitter-for-4-month-and-i-made-7-700-how-do-i-file-this-along-with-my-w2-and-i-was-payed/01/71418#M30332 Sat, 01 Jun 2019 02:24:04 GMT smickie1989 2019-06-01T02:24:04Z https://ttlc.intuit.com/community/taxes/discussion/i-was-a-babysitter-for-4-month-and-i-made-7-700-how-do-i-file-this-along-with-my-w2-and-i-was-payed/01/71418#M30332 Sat, 01 Jun 2019 02:24:04 GMT https://ttlc.intuit.com/community/taxes/discussion/i-was-a-babysitter-for-4-month-and-i-made-7-700-how-do-i-file-this-along-with-my-w2-and-i-was-payed/01/71418#M30332 smickie1989 2019-06-01T02:24:04Z https://ttlc.intuit.com/community/taxes/discussion/first-enter-your-w-2-as-you-normally-would-in-turbotax/01/71423#M30334 <P>First, enter your W-2 as you normally would in TurboTax (Federal Taxes &gt; Wages &amp; Income &gt; Wages &amp; Salaries (W-2). &nbsp;</P><P>Next, the IRS considers you to have a business, even though you may look at it as just babysitting. &nbsp;They consider this to be "self-employment." &nbsp;You'll input that amount under Federal Taxes &gt; Wages &amp; Income &gt; Business Items &gt; Business Income &amp; Expenses (Sch C). &nbsp;Follow the prompts; TurboTax will ask you if you received a Form 1099-MISC or Additional Income (i.e. Cash) -- select Additional Income and you'll be able to enter the $7700 and call it "cash." &nbsp;Then TurboTax will ask you if you have any expenses to claim for the babysitting. &nbsp;If you don't, then you're finished with income.</P><P>If you do want to claim expenses, then you'll have to upgrade to Self-Employed. &nbsp;The benefit of taking your expenses is that you're allowed to subtract them from the $7700, thus lowering the amount you pay taxes on. &nbsp;TurboTax will ask you to input the different expenses you may have, and then it will put both the income &amp; expenses on a Schedule C, where it will do the subtraction and give you a total "net" figure on which you'll be taxed. &nbsp;Understand that you'll pay both income tax and self-employment tax on any self-employment income, whether it's the $7700 or a lesser "net" amount after deducting expenses.</P><P>That's how it works when you have a side business.&nbsp;</P> Sat, 01 Jun 2019 02:24:06 GMT https://ttlc.intuit.com/community/taxes/discussion/first-enter-your-w-2-as-you-normally-would-in-turbotax/01/71423#M30334 ThomasM 2019-06-01T02:24:06Z