You'll need to sign in or create an account to connect with an expert.
Yes, you can record this income in TurboTax.
Open TurboTax
That is self employment income.
You need to fill out schedule C for self employment business income and pay self employment tax in addition to regular income tax on it. The SE tax is to pay Social Security and Medicare tax that wasn't taken out like on a W2.
You use your own name and ssn or business name and EIN if you have one. You should say you use the Cash Accounting Method and all income is at risk. After you put in your income and expenses if your net profit is $400 or more you will pay 15.3% for 2013 Self Employment tax in addition to your regular income tax. The Schedule SE will be automatically filled out for it.
You can enter Self Employment Income into Online Deluxe but if you have any expenses you will have to upgrade to the Premium version. You can just enter it as Other self employment income or as Cash or General income. You don't need to get a 1099NEC or 1099Misc or 1099K. Even if you did you can enter all your income as Cash. Only the total goes to schedule C.
How to enter income from Self Employment
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
istu4668
New Member
rkp29
New Member
GGGGary554
Returning Member
LidiaTapia
New Member
shirleyalvarado6977
New Member