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Fearnotcomputerr
New Member

I worked with a MLM company and made under $600 so do not have a form. I do need to ride of expenses though. How do I do this ?

 
1 Reply
CherylW
Level 3

I worked with a MLM company and made under $600 so do not have a form. I do need to ride of expenses though. How do I do this ?

Set yourself up as a business.

1.  Go to the Business tab in Turbo Tax. 

2.  Select I'll choose what I work on. 

3.  Go to Profit or Loss from Business under Business Income & Expenses. 

4.  Choose + Add Another Business, and fill out all the appropriate info on the following screens.  You're going to set this 1099-MISC up as your business, because you can take off any expenses used to produce that income. 

5.  Click Start or Update by Business Income. 

6.  Click Start or Update by General Income.  

7.  Continue till you get to your Business screen, and there you can enter any expenses. 

The reason that you're entering expenses is so you can get your 1099-MISC net income as low as possible, so you don't pay a lot of self-employment tax. 


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