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dandy424
New Member

I have a question. I worked a part time job in the summer and no tax was subtracted from my checks and I did not receive a W2. How to I report this imcome

 
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I have a question. I worked a part time job in the summer and no tax was subtracted from my checks and I did not receive a W2. How to I report this imcome

If you did not receive a W-2 or a 1099, the IRS considers you to be self employed.

If you received a 1099, and your compensation is listed in box #7 of Form 1099-MISC, you are being treated by the IRS as self-employed worker, also referred to as an independent contractor.

If you earned more than $400 net income (income less expenses) working as a self-employed individual (or independent contractor), you must file a Schedule C, business income and expenses with your personal return and pay self-employment tax-same as withheld on a W-2.

If you otherwise earned enough to file a return, you must report your self-employment income, no matter how small.

To report your business expense in TurboTax:

  • Type in schedule c in the search box, top right of your screen

  • Hit the Enter key

  • Click jump to schedule c in the search results

Follow the prompts and online instructions

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I have a question. I worked a part time job in the summer and no tax was subtracted from my checks and I did not receive a W2. How to I report this imcome

If you did not receive a W-2 or a 1099, the IRS considers you to be self employed.

If you received a 1099, and your compensation is listed in box #7 of Form 1099-MISC, you are being treated by the IRS as self-employed worker, also referred to as an independent contractor.

If you earned more than $400 net income (income less expenses) working as a self-employed individual (or independent contractor), you must file a Schedule C, business income and expenses with your personal return and pay self-employment tax-same as withheld on a W-2.

If you otherwise earned enough to file a return, you must report your self-employment income, no matter how small.

To report your business expense in TurboTax:

  • Type in schedule c in the search box, top right of your screen

  • Hit the Enter key

  • Click jump to schedule c in the search results

Follow the prompts and online instructions

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