Income for services reported on a 1099-Misc qualify you as an Independent Contractor, since you did not received a W-2 with taxes withheld. Income and expenses are reported on Schedule C in the Self-Employed Edition. You will be responsible for all the taxes.
Instructions
- Open your return.
(To do this, sign in to TurboTax and
click the Take me to my return button.)
- Search for “1099-misc” at the
top. In the search results, click the “Jump to” link.
- Now follow the screens to
enter your 1099-MISC info and answer some questions.
- If you have
already entered at least one 1099-MISC - Click Add Another 1099-MISC to enter a new one.
Whether
your 1099-MISC is for Self-Employment, Rent, Royalties, a Lawsuit Settlement,
Fishing, or any other reason, enter it on the 1099-MISC screen as instructed
above. We’ll link your form to the correct income section of your return after
you answer a few questions.
1099-MISC Summary Screen
Once
you have entered at least one 1099-MISC, then any time you want to review,
edit, delete or add a new 1099-MISC form, use the above Instructions to access
the 1099-MISC Summary screen. Here you will see all of your 1099-MISC forms.
