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Level 1
posted Mar 24, 2023 6:12:04 AM

Where do I report freelance income if I do not own a business?

0 2 469
2 Replies
Level 15
Mar 24, 2023 6:18:35 AM

As an independent contractor you do have a business.  You report your self-employment income and expenses on Schedule C which is part of your personal tax return, Form 1040.

 

You will have to upgrade to the Self-Employed online edition.

 

See this TurboTax support FAQ for entering self-employment income - https://ttlc.intuit.com/turbotax-support/en-us/help-article/self-employment-taxes/report-income-self-employment/L5wADi3xQ_US_en_US?uid=lfmki7m3

 

See this TurboTax website for self-employed information - https://turbotax.intuit.com/personal-taxes/self-employment-taxes/

Expert Alumni
Mar 24, 2023 6:25:45 AM

If you have freelance income, you essentially do own a business in the eyes of the IRS.  You are the business since you are doing freelance work.

 

Freelance or self-employed income is reported on Schedule C Business Income and Expenses.  

 

Use the following steps to get started:

 

  • On the top row of the TurboTax screen, click on Search 
  • This opens a box where you can type in “schedule c” 
  • The search results will give you an option to “Jump to schedule c
  • Click on the blue “Jump to schedule c” link 

 

Also, take a look at the following TurboTax help article for further information, in addition to the articles shared by DoninGA above:

 

How does contract or freelance work affect my taxes?

 

@william-orejudos