in [Event] Ask the Experts: Self-Employed Quarterly Estimate Filing
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I cannot address your prior year tax returns except to say that this has remained constant for many years:
If you sold goods or performed services and received payments, but were not considered an employee and did not receive a Form W-2, you are self-employed for tax purposes. Your income, and any related business expenses, such as vehicle expense, will be reported on Schedule C of your tax return.
Your income, from Form 1099-MISC, should be reported both for income tax purposes and, if your net self-employment income exceeds $400, you must pay self-employment tax (the employer's and employee's share of Social Security and Medicare taxes) on that income.
To report income for which you received a Form 1099-MISC in TurboTax Deluxe or Premier:
Select the Federal Taxes tab, then Wages & Income.
Click Continue, then select I'll choose what I work on;
Scroll down and select 1099-MISC and Other Common Income;
Select Income from Form 1099-MISC;
Select Add a 1099-MISC;
Enter all information and click Continue;
Enter reason for this 1099-MISC and click Continue;
Answer the questions on the following screens.
I cannot address your prior year tax returns except to say that this has remained constant for many years:
If you sold goods or performed services and received payments, but were not considered an employee and did not receive a Form W-2, you are self-employed for tax purposes. Your income, and any related business expenses, such as vehicle expense, will be reported on Schedule C of your tax return.
Your income, from Form 1099-MISC, should be reported both for income tax purposes and, if your net self-employment income exceeds $400, you must pay self-employment tax (the employer's and employee's share of Social Security and Medicare taxes) on that income.
To report income for which you received a Form 1099-MISC in TurboTax Deluxe or Premier:
Select the Federal Taxes tab, then Wages & Income.
Click Continue, then select I'll choose what I work on;
Scroll down and select 1099-MISC and Other Common Income;
Select Income from Form 1099-MISC;
Select Add a 1099-MISC;
Enter all information and click Continue;
Enter reason for this 1099-MISC and click Continue;
Answer the questions on the following screens.
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