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Is there anywhere on here where I can list my deductions for my self employment?

 
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Is there anywhere on here where I can list my deductions for my self employment?

If you are using online TurboTax you need to use Premium in order to prepare a Schedule C for your business expenses.   Or you can use any version of the desktop download to prepare the Schedule C.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
MayaD
Employee Tax Expert

Is there anywhere on here where I can list my deductions for my self employment?

You will report your self employment income and expenses on Schedule C. 

For trade or business expenses to be deductible, they must be ordinary & necessary. Work-related expenses reduce your taxes by lowering the amount of self-employment income you get taxed on.

 

If your expenses are less than your income, the difference is net profit and becomes part of your income on page 1 of Form 1040 or 1040-SR. If your expenses are more than your income, the difference is a net loss. You usually can deduct your loss from gross income on page 1 of Form 1040 or 1040-SR. But in some situations your loss is limited. See Publication 334, Tax Guide for Small Business (For Individuals Who Use Schedule C),

 

Where do I enter Schedule C?

What self-employed expenses can I deduct?

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