I got a 1099 from Paypal and bought the Turbo Tax Business program. I was told i need to file a Schedule C? I do sell online and have used Quickbooks Self-Employed for my record keeping. Is the Turbo Tax Business the correct program to use?
Sorry No, TT Business is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns. Not for self employed independent contractors.
You can buy the personal Home & Business version here…
https://turbotax.intuit.com/personal-taxes/cd-download/home-and-business.jsp
To report your self employment income you will fill out schedule C in your personal 1040 tax return and pay SE self employment Tax. Here's a Schedule C https://www.irs.gov/pub/irs-pdf/f1040sc.pdf
You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version or use any of the Desktop CD/Download programs.
How to enter self employment income
Thanks for the info! So I did check and it's actually the Home and Business program. So do I use it or do I have to upgrade to the Self Employed since I have expenses? How do you upgrade? I assume it costs more?