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Returning Member

I have Turbo Tax Deluxe and got a 1099 that I want to claim expenses against. I am NOT self employed 1X

Hello,

I hosted an international coach for my son's soccer club, the club sent me $200 a month.  It cost me a heck of lot more than that, which was fine with me.  But they sent me a 1099 for the $1,200 for the six months.  

On deluxe can I can claim the expenses to bring the 1,200 to a net zero?  Or do I have to upgrade to business?  Is it worth upgrading to business for an extra $40?  Will it save me more than the $40 it will cost to upgrade?

1 Reply
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Employee Tax & Finance Expert

I have Turbo Tax Deluxe and got a 1099 that I want to claim expenses against. I am NOT self employed 1X

The activity you describe does not seem to rise to the level of trade and business (see definition in this IRS document). and therefore the income must be report as Other Reportable income. And no expenses can be taken against this income.

 

 

However, if you consider yourself as being in business providing this service, you then report the income as self-employed income and can deduct related expenses against the income. To do this, you'll need to upgrade to TurboTax Self-Employed.

 

To report your 1099-MISC as self-employed income, please read this.

 

To claim expenses, please read this.

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