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I made $2000 from my soap business but it is not enough to get a 1099K form. Which form should i use to report my income? Should it be Uncommon Income?

 
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JamesG1
Expert Alumni
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

I made $2000 from my soap business but it is not enough to get a 1099K form. Which form should i use to report my income? Should it be Uncommon Income?

You likely are referring to self-employment income.   If so, self-employment income is reported on Schedule C Profit or Loss from Business.

 

 To report expenses under Self-employment income, follow these directions.

 

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • Click on the drop down arrow to the right of Self-employment.
  • Click to the right of Self-employment income and expenses.
  • Establish the self-employment activity and report the income and expense.

Within the self-employment activity, add the income reported on the IRS form 1099-K by following these steps: 

 

  • At the screen Here's your info, select Add income for this work.
  • At the screen Let's enter the income for your XXX work, select Form 1099-K to report the self-employment income.

See also this TurboTax Help.


 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
JamesG1
Expert Alumni
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

I made $2000 from my soap business but it is not enough to get a 1099K form. Which form should i use to report my income? Should it be Uncommon Income?

You likely are referring to self-employment income.   If so, self-employment income is reported on Schedule C Profit or Loss from Business.

 

 To report expenses under Self-employment income, follow these directions.

 

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • Click on the drop down arrow to the right of Self-employment.
  • Click to the right of Self-employment income and expenses.
  • Establish the self-employment activity and report the income and expense.

Within the self-employment activity, add the income reported on the IRS form 1099-K by following these steps: 

 

  • At the screen Here's your info, select Add income for this work.
  • At the screen Let's enter the income for your XXX work, select Form 1099-K to report the self-employment income.

See also this TurboTax Help.


 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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