Schedule C question

dannyquarrell — Thu, 06 Jun 2019 08:21:12 GMT

Hello,

I purchased a business in 2018 and have filled out a schedule C 1040. The business is a sole proprietorship LLC.

I'm unsure how to enter this into turbotax as under self employed income my choices are 1099-Misc, Other self employed income or Uncommon Income. None of these seem correct.

Any help would be appreciated.

If you have a 1099-Misc to report your income: You can e...

Coleen3 — Thu, 06 Jun 2019 08:21:14 GMT

If you have a 1099-Misc to report your income:

You can enter a 1099-MISC on the 1099-MISC Summary screen.

Sign in to TurboTax and select Take me to my return.
Click "search" and search for 1099-misc.
Select the Jump to 1099-misc link in the search results.
Select Yes to Did you get a 1099-MISC?

If you need to enter another 1099-MISC, select Add Another 1099-MISC to enter a new one.

Enter the information from your 1099-MISC.

If your form has an amount in more than one box, you’ll need to enter them as separate 1099-MISC forms. We’ll help you with that.

If you don't have a 1099-MIsc:

HOW TO ENTER without a 1099-Misc

First, sign in to My TurboTax

Next, click the orange Take me to my return button

On the white bar at the top, click Federal Taxes

Then, Wages & Income

In the Self-Employment section (you may need to click Show more), next to Income and Expenses, click Start (or Revisit)

When asked "Did you have any self-employment income or expenses?" select Yes

You'll see the screen titled "Tell us the type of self-employment work you do." Enter your description, then Continue

On the next screen "Let's get income for [description]" select the button Additional income. Includes 1099-K, check/cash payments and Continue

The next screen will say "Tell us about additional income for your [description] work." List descriptions and amounts on this screen

topic Schedule C question in Business & farm

Schedule C question

If you have a 1099-Misc to report your income: You can e...