topic Thank you. in Retirement tax questions

I retired end of 2017 and closed my company. I received two checks to my company for small amounts early 2018. Where should I report the income for 2018?

tax-dummy0 — Tue, 04 Jun 2019 21:36:38 GMT

If less than $400 and no 1099Misc report the amounts as f...

MichaelL1 — Tue, 04 Jun 2019 21:36:40 GMT

If less than $400 and no 1099Misc report the amounts as follows.

Click on “Take me to my return” button.

Click on Federal tab (left-hand side of screen).

Click in Wages and Income (near top of screen)

Scroll down to Less Common Income.

Click on Start next to Miscellaneous Income.

Click on Other reportable income.

Follow the questions

One is $545 and the other is $192.38. Both don't have 10...

tax-dummy0 — Tue, 04 Jun 2019 21:36:41 GMT

One is $545 and the other is $192.38. Both don't have 1099 M. What should I do about the one that is over $400 ($545)?

If over $400 you can have self-employment tax--what was i...

MichaelL1 — Tue, 04 Jun 2019 21:36:42 GMT

If over $400 you can have self-employment tax--what was it for?

Why did they paid you the money?

MichaelL1 — Tue, 04 Jun 2019 21:36:44 GMT

Why did they paid you the money?

My company sold/fitted patients with braces. The $545 on...

tax-dummy0 — Tue, 04 Jun 2019 21:36:45 GMT

My company sold/fitted patients with braces. The $545 one was the payment from a hospital which I provided service to their patient in 2017 and billed them in 2017. They didn't pay me until 1/10/18. The other one was from an insurance company.

Unfortunately the $545 should go on a Sch C (or Sch C-EZ)...

MichaelL1 — Tue, 04 Jun 2019 21:36:47 GMT

Unfortunately the $545 should go on a Sch C (or Sch C-EZ) and you would have to pay self-employment taxes on it.
The insurance payment if it is a reimbursement might not be taxable income at all

What TurboTax are you using?

MichaelL1 — Tue, 04 Jun 2019 21:36:48 GMT

What TurboTax are you using?

Turbo tax already remove my company information in busine...

tax-dummy0 — Tue, 04 Jun 2019 21:36:49 GMT

Turbo tax already remove my company information in business section when I downloaded the program. So I need to put in the company profile again like I have a new comapany?

You can do a very abbreviated version use the home addres...

MichaelL1 — Tue, 04 Jun 2019 21:36:51 GMT

You can do a very abbreviated version use the home address and your name for the business.

Thank you.

tax-dummy0 — Tue, 04 Jun 2019 21:36:53 GMT

Thank you.

I use "home and business". Sorry I didn't see that part...

tax-dummy0 — Tue, 04 Jun 2019 21:36:54 GMT

I use "home and business". Sorry I didn't see that part of question. Thanks again.