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I have a private practice. My clients ALL pay my up front 100% for services. No insurance pays me but I have 1099 forms from ins compainies. Do I report this info?
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I have a private practice. My clients ALL pay my up front 100% for services. No insurance pays me but I have 1099 forms from ins compainies. Do I report this info?
Yes. Enter the 1099-MISC forms as they are reported to the IRS. Then, you can subtract those amounts from your total receipts and enter the difference as General Income in the Business Section.
How to get to that area : While inside the software and working on your return, type Schedule C in the Search at the top of the screen (you may see a magnifying glass there). There will be a popup that says Jump to Schedule C. Select that to get to the general area.
Then,
- go to Business Income and Expenses
- select Edit next to your business (if it is there)
- scroll to Business Income
- on the next screen, you will see a place to enter a Form 1099-MISC
- then, on the next screen, you will see General Income (for income received that is not on a 1099-MISC form)
- enter a description for the income (ex. Services, or Consulting, Customer Sales) and the amount
Follow through all the areas in the Business section of the TurboTax software and it will provide you with a lot of assistance. You'll notice blue links that have more information and details about the particular sections that will be extremely helpful.
Also, this link may be helpful to you IRS Small Business Help Center .
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