It should all be reported as self-employment income.
You will file a Schedule C as a self-employed person. The Schedule C will flow onto your individual income
tax return (Form 1040) and be netted with other personal income and expenses.
For self-employment,
if you didn't receive a 1099-MISC for that income, it will be
entered into the business area of TurboTax Self-Employed in the Business
Income section, then General Income (skip past the
1099-MISC area).
How to get to that
area
:
While inside the software and working on
your return, type Schedule C in the Search at the top of the
screen (you may see a magnifying glass there). There will be a popup that
says Jump to Schedule C. Select that to get to the general
area.
When you set up your business, you can use your own name,
address, and social security number (if you don't have a business name
or EIN). Then,
when done with the Business Profile:
- go to Business Income and
Expenses
- select Edit next
to your business (if it is there)
- scroll to Business
Income
- on
the next screen, you will see a place to enter a Form 1099-MISC (if you didn’t
receive one, you can Skip past that)
- then, on the next screen, you
will see General Income (for income received that is not on a 1099-MISC
form)
- enter a description for the income (ex. Services,
or Consulting, Customer Sales) and
the amount
Follow through all the areas in the Business section of the
TurboTax software and it will provide you with a lot of assistance. You'll
notice blue links that have more information and details about the particular
sections that will be extremely helpful.
Also, this link may be helpful to you IRS Small
Business Help Center .
