turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I'm confused by the Business Income and Expenses at the start of the Business section

I'm using TurboTax for Home & Business. I've got a side gig, but my primary income is through my day job. Nevertheless, from previous experience I know that using Home & Business is correct.

 

I've elected to have TurboTax walk me through the Business section. I presume it means my side business, rather than my income from my day job. However, it is starting out with a title of "Income Reported on your 2020 Return". Then it lists categories of Wages & Salaries (W2), Interest & Dividends, and Business. Ah, I don't get a W2 from my own business. (Sole proprietorship.) What's going on here?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

I'm confused by the Business Income and Expenses at the start of the Business section

Home and Business prepares a return that includes your W-2 income and your business income.  Fill in everything.

View solution in original post

3 Replies

I'm confused by the Business Income and Expenses at the start of the Business section

Home and Business prepares a return that includes your W-2 income and your business income.  Fill in everything.

I'm confused by the Business Income and Expenses at the start of the Business section

If I understand you correctly, you don't know where to enter your sole proprietor income on your return. You mention the Category Business, I would expect that choosing this option would take you into a Schedule C, where there is a line for you to enter your business Fees, Commissions, Revenue. I hope that is helpful.

I'm confused by the Business Income and Expenses at the start of the Business section

Thank you, @Harvey331716 , that is helpful.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question