You'll need to sign in or create an account to connect with an expert.
The IRS suggests a log. You will still have to manually include the total miles driven as opposed to business miles.
For example, you could start with your odometer reading of 10,000 miles on January 1st. Every time you have business miles, jot the number down along with the date and purpose. Total them at the end and compare once you also have the ending odometer reading for the year.
You can use a program like Quicken or QuickBooks to track your income and expenses. There is a QuickBooks Self Employment bundle you can check out which includes one Turbo Tax Online Self Employed return....
http://quickbooks.intuit.com/self-employed
And Here is some IRS reading material……
IRS information on Self Employment
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center
Pulication 334, Tax Guide for Small Business
http://www.irs.gov/pub/irs-pdf/p334.pdf
Publication 535 Business Expenses
http://www.irs.gov/pub/irs-pdf/p535.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. How to enter self employment income
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
jonofthefunk
New Member
Raph
Community Manager
DBinSC
New Member
ForbidInjustice
Returning Member
asalot
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.