I receive payments from a landlord to manager their property. Do I claim this income as " other income" or self employment?

[Pauly R]

A friend pays me cash to manage their rental property. They pay me a percentage of total rents every month, about 10%.

I don't have a business or corporation, but I basically take care of everything on the property and in turn they pay me for it.

How do i claim this income on my taxes?

Do i claim it as "other income" or do i declare my self as "self employed"

I don't have any other income.

[VolvoGirl]

That is self employment income.  To report your self employment income you will fill out schedule C in your personal 1040 tax return and pay SE self employment Tax.  Here's a Schedule C  https://www.irs.gov/pub/irs-pdf/f1040sc.pdf

You can enter Self Employment Income into Online Deluxe but if you have any expenses you will have to upgrade to Premium or use any of the Desktop CD/Download programs.

How to enter self employment income

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment.  You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400.  The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare.  So you get social security credit for it when you retire.  

The SE tax is already included in your tax due or reduced your refund.  It is on the 1040 Schedule 2 line 4 which goes to 1040 line 23.  The SE tax is in addition to your regular income tax on the net profit.

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

[SharonD007]

You will report this self-employment income on ‌Schedule C of your tax return. The IRS considers self-employment income as a business, so you will also be able to deduct common business expenses from your income. To enter you business and self-employment income, follow the steps below:

1. Open TurboTax
2. Select Wages & Income
3. Select Self-Employment Income and Expenses
4. TurboTax will guide you through the interview screens to help you enter your income.

 Review the TurboTax articles Reporting Self-Employment Business Income and Deductions and Property Management Tax Deductions for more information on business deductions.  For additional information, review What self-employed expenses can I deduct? and How do I report income from self-employment? 

@Pauly R 

[Pauly R]

Thanks for your response. I forgot to add that i am in canada. Perhaps i posted in the wrong area .

[VolvoGirl · Accepted solution]

This is the USA forum.

Here is the Canada forum  

https://turbotax.community.intuit.ca/tax-help

Or Contact TurboTax Canada Support

https://support.turbotax.intuit.ca/contact/