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If you receive a 1099-Misc with an amount in Box 7, this is considered Self Employment income.
You can have this type of income after retirement.
It is reported on a Schedule C, and you can deduct expenses you incur in generating this income also on Schedule C (supplies, gas, phone, travel, home office, for example).
Type 'schedule c' in the Search window, and then click on 'Jump to schedule c' to start entering info for your business.
TurboTax will guide you along the way, so don't worry.
Click the link for more detailed info on reporting Self-Employment income and expenses.
If you receive a 1099-Misc with an amount in Box 7, this is considered Self Employment income.
You can have this type of income after retirement.
It is reported on a Schedule C, and you can deduct expenses you incur in generating this income also on Schedule C (supplies, gas, phone, travel, home office, for example).
Type 'schedule c' in the Search window, and then click on 'Jump to schedule c' to start entering info for your business.
TurboTax will guide you along the way, so don't worry.
Click the link for more detailed info on reporting Self-Employment income and expenses.
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