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I used to work in home delivery of medicines for the RX Express company. They used to give me my salary through a Zelle transfer every two weeks. I worked for three I

I worked for three months. This considers me an employer. I want to recognize this in the tax return and also recognize the loss of the account at the end of the year. Can I do that?
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2 Replies

I used to work in home delivery of medicines for the RX Express company. They used to give me my salary through a Zelle transfer every two weeks. I worked for three I

if RX Express treats you as an employee (you'll get a w-2 rather than a 1099-NEC)  that blocks for federal purposes the deduction of any expenses that would have been deductible if you were self-employed. 

 

I used to work in home delivery of medicines for the RX Express company. They used to give me my salary through a Zelle transfer every two weeks. I worked for three I

@ashraf-yacoub6    Were you considered an employEE or an employER?   Employees get a W2.  If you were not a W2 employee they might give you a 1099NEC.   Sounds like they paid you as your own boss or independent contractor, 1099 etc.  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. You can fill out Schedule C and enter Self Employment Income into Online Deluxe but if you have any expenses you will have to upgrade to Premium version. Or buy any of the Desktop programs. All the Desktop programs have all the same forms, but you will get the most help in the Home & Business version.

 

You can enter your total gross income as Other self employment income or as Cash or General income. You don't need to get a 1099MISC, 1099NEC or 1099K. Even if you did you can enter all your income as Cash. Only the total goes to schedule C. You should be entering the income from your own records.


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


Where to enter business expenses
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-self-employment-busine...


Turbo Tax Self Employment info
https://turbotax.intuit.com/tax-tips/self-employment-taxes/beginners-tax-guide-for-the-self-employed...

 

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 (If it is 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 (FICA). So you get social security credit for it when you retire. It is in addition to any regular income tax you owe on it.


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.

  

 

 

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