How can I add the expenses to my 1099-NEC if I worked as an independent contractor but rented a box truck from a company and paid for insurance on the truck?

The commision total is 1791.92 and deductions amount to $-951.92, thus I only made $840.00 from self employment. I need to deduct the $951.

1032

Expert Alumni

Feb 2, 2025 2:53:25 PM

Report the IRS form 1099-NEC income as a self-employment activity in TurboTax.

Business expenses may be reported within the self-employment activity.

In TurboTax Online, follow these steps to report the self-employment activity.

Down the left side of the screen, click on Tax Home.
Click on the down arrow to the right of Review.
Click on the blue band labeled Review.
Down the left side of the screen, click Federal.
Down the left side of the screen, click Wages & Income.
Scroll down to Self-employment click on the dropdown menu.
Click Start/Revisit to the right of Self-employment income and expenses.
At the screen Your 2024 self-employed work summary, click Edit to the right of the self-employment activity.
At the next screen, click either Import expense transactions or Add expenses for this work.