Hi there,
How do I report 1099-NEC income for my spouse in turbotax ( I have home & business edition) when filing married jointly? Also, what expenses can be claimed to reduce taxable amount?
Thanks,
Navneet
To report your wife's 1099-NEC on your joint return:
To be deductible, a business expense must be both ordinary and necessary.
An ordinary expense is one that is common and accepted in your industry. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary.
For more information and for list of deducible expenses, please check Irs.gov
Yes, it helped. I want to review my return with an expert. How can I connect with expert?