If Basically retired. Occasional independent contract work. This year’s deductions probably under now standard deduction(12K?). How should I proceed with TurboTax ?

[wardabronski]

In previous years I have listed deductions as an independent contractor. This year’s expenses are below twelve thousand dollars. How should I proceed with TurboTax this year ?

[MichaelDC · Accepted solution]

OK. You'll won't be paying regular income tax on this income. However, you will be subject to SE taxes on the profit of your independent contractor work after expenses. That will be around 15% of the profit. If the profit was $12k, the SE taxes (Social Security and Medicare taxes) will be around $1700.

So, you may do well to continue with TurboTax Self-Employed as you probably have in the past to take as many deductions as you can to lower that $1700 bill.

If you have additional questions or details regarding this, please feel free to post in the comments for further clarification.