It depends.
Did you earn this income as part of a self-employed business with the intent to make a profit?
Your intent will determine how the income is reported.
If you are reporting this income as self-employment income (meaning you are running a business with the intent to make a profit), you will do the following in the Federal interview section:
- Select Income & Expenses
- Select Self-employment income and expenses
- Proceed through the screens to enter your information
- When you see the following for income, make sure to select Other self-employed income. Includes 1099-K, cash, and checks.
If it is not from self-employment, you would enter the information as follows:
- Select Income & Expenses
- Go to the All Income section and select Less Common Income
- Select Miscellaneous Income
You will then select Other reportable income to enter your income. Be sure to mark that it was not earned as part of business.
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