Hello,
I’m both a W-2 taxed employee and self employed gig worker. On the 1040 schedule C where it says on line 1 of “Income” where it asks for “Gross receipts or sales” should I include my W-2 wages? Should I add them like 7 “gross income”? Or should I leave my wages separate from the schedule C?
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Your wages reported on the W-2 do NOT get entered on the Schedule C for income. You only report the income and expenses on the Schedule C that were directly related to your self-employment.
Great. Thank you so much
What about the other way around? Do I include my self employed income on my normal 1040?
Schedule C is for your gig work. Do include W-2 income. That goes elsewhere.
Gross receipts or sales are the total (before any deductions) that you earned. Most people get a Form 1099-NEC. Add to that amount any tips or other self-employment income not included on Form 1099-NEC.
You can claim deductions against your gig income.
Check out: The ultimate guide to tax deductions for the self-employed
Enter your W-2 in the W-2 section:
@Perrychrispy84 wrote:
What about the other way around? Do I include my self employed income on my normal 1040?
The Schedule C is included with the federal tax return Form 1040. The program will enter your net income or net loss from self-employment on Schedule 1 Line 3. This amount flows to the Form 1040 Line 8.
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