How can I add the expenses to my 1099-NEC if I worked as an independent contractor but rented a box truck from a company and paid for insurance on the truck?

[mrvtulu3]

The commision total is 1791.92 and deductions amount to $-951.92, thus I only made $840.00 from self employment. I need to deduct the $951.

[JamesG1]

Report the IRS form 1099-NEC income as a self-employment activity in TurboTax. 

Business expenses may be reported within the self-employment activity.

In TurboTax Online, follow these steps to report the self-employment activity.

• Down the left side of the screen, click on Tax Home.
• Click on the down arrow to the right of Review.
• Click on the blue band labeled Review.
• Down the left side of the screen, click Federal.
• Down the left side of the screen, click Wages & Income.
• Scroll down to Self-employment  click on the dropdown menu.
• Click Start/Revisit to the right of Self-employment income and expenses.
• At the screen Your 2024 self-employed work summary, click Edit to the right of the self-employment activity.
• At the next screen, click either Import expense transactions or Add expenses for this work.