If you have net self
employment income of $400 or more you have to file a schedule C in your
personal 1040 return for self employment business income. You may get a 1099-Misc for some of your
income but you need to report all your income. So you need to keep your
own good records. Just enter your total
income in the general income section and skip the 1099 questions.
Here is some reading
material……
IRS information on Self Employment….
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center
Publication 334, Tax Guide for Small Business
http://www.irs.gov/pub/irs-pdf/p334.pdf
Publication 535 Business Expenses
http://www.irs.gov/pub/irs-pdf/p535.pdf
Home Office Expenses …
Business Use of the Home
https://www.irs.gov/businesses/small-businesses-self-employed/home-office-deduction
https://www.irs.gov/pub/irs-pdf/p587.pdf
There is also QuickBooks Self Employment
bundle you can check out which includes one Turbo Tax Home & Business
return and will help you keep up in your bookkeeping all year along with
calculating the estimated payments needed ....
http://quickbooks.intuit.com/self-employed
