My wife is a Nanny, and I want to figure out if her income can all be reported on a 1099 Misc, and I take advantage of the Schedule C. She currently gets a W-2 from Mom and a 1099 Misc from Dad. I've filed my taxes, but want to do a what if for next year.
Thx
If you want to use your 2018 information to create the what-if scenario, you can create a new account using TurboTax Online. Enter 'dummy' information into the return and just do not follow-through with filing the return. You can clear it when you are finished testing. There would be no charges incurred to do this.
Or, if you are using a CD/downloaded version of TurboTax, you can use the File > Save As function to create a dummy copy of the return you just filed and then edit that copy to create the what-if scenario.
Using your 2018 information will give you some idea of how it would affect your return overall if all of the income were reported on 1099-MISC.
If you want to use your 2018 information to create the what-if scenario, you can create a new account using TurboTax Online. Enter 'dummy' information into the return and just do not follow-through with filing the return. You can clear it when you are finished testing. There would be no charges incurred to do this.
Or, if you are using a CD/downloaded version of TurboTax, you can use the File > Save As function to create a dummy copy of the return you just filed and then edit that copy to create the what-if scenario.
Using your 2018 information will give you some idea of how it would affect your return overall if all of the income were reported on 1099-MISC.