topic Taxes for Vending machine in Business & farm

Taxes for Vending machine

Heo Con — Tue, 24 Feb 2026 08:29:15 GMT

Hello

I started the vending machine business in January 2023. Every month, I don't do taxes for federal or state What do I need to do now?

Can Turbo Tax help me do taxes for the 2023 year?
My business form is an LLC with a single owner.

I have gross income and expenses every month. I have only one location.

I need your help

Thank you so much

Re: Taxes for Vending machine

xmasbaby0 — Mon, 04 Dec 2023 21:17:52 GMT

You can use any version of the CD/download software for your self-employment income and Schedule C, or you will need to use online Premium in order to prepare a Schedule C for your business expenses. You are going to have to pay self-employment tax for Social Security and Medicare, and perhaps ordinary income tax.

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_US

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

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

Re: Taxes for Vending machine

TomD8 — Tue, 19 Dec 2023 17:01:13 GMT

I would strongly suggest that you carefully read this TurboTax help article:

https://turbotax.intuit.com/tax-tips/self-employment-taxes/beginners-tax-guide-for-the-self-employed/L2HLojrj5

Re: Taxes for Vending machine

AmeliesUncle — Wed, 20 Dec 2023 18:44:58 GMT

You also need to check if the sales are subject to sales tax in your state. If they are, those sale tax returns/reporting and payments are likely late (with penalties and interest). But those rules vary from state to state.

TurboTax does not assist with the state sales tax returns/reporting. It only does income tax returns.