I worked for Kaleb Auto Sales I received $20.000 b...
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I worked for Kaleb Auto Sales I received $20.000 but I was charged of lot of expenses during last year and I want to know how can I enter all my expenses ?

 
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Expert Alumni

I worked for Kaleb Auto Sales I received $20.000 but I was charged of lot of expenses during last year and I want to know how can I enter all my expenses ?

Please follow the instructions in this TurboTax help topic on how to enter business expenses.

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Level 15

I worked for Kaleb Auto Sales I received $20.000 but I was charged of lot of expenses during last year and I want to know how can I enter all my expenses ?

The above  answer assumes you are self employed.  That is, you did not receive a W-2 for your work at Kaleb.  Instead, you received a 1099-Misc or no tax form at all.

 

The IRS considers anything in box 7 of 1099-MISC to be self employment income. Enter the 1099-Misc income, at Other Common income / income from a 1099-MISC . TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & Medicare) on any "profits" greater than $400. These types of payments are frequently done this way. Your "employer" is not the only one.

The IRS also considers undocumented cash income (no W-2 or 1099-MISC), for work performed, to be self employment income.

The TurboTax interview will guide you on where to enter expenses.

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