If I worked on a food truck, how does that become ...
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If I worked on a food truck, how does that become my business? It was not my personal food truck.

 
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Level 15

If I worked on a food truck, how does that become my business? It was not my personal food truck.

If you are not an employee that receives a W-2 from your employer, then you are self-employed.  Your business is being a self-employed food service provider.

See this TurboTax support FAQ - https://ttlc.intuit.com/community/self-employed/help/how-is-being-self-employed-different-from-being...

You enter your income and expenses for your self-employment on Schedule C or Schedule C-EZ, see this TurboTax support FAQ - https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-schedule-c/01/26092

 

 

 

 

Level 15

If I worked on a food truck, how does that become my business? It was not my personal food truck.

Although it may be news to you that you “have a business” (and most of the other people who get their first 1099-MISC); The IRS considers anything in box 7 of 1099-MISC to be self employment income. Enter the 1099-Misc income, at Other Common income / income from a 1099-MISC . TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & Medicare) on any profits greater than $400. These types of payments are frequently done this way. Your "employer" is not the only one.

The IRS also considers undocumented cash income (no W-2 or 1099-MISC), for work performed, to be self employment income.

 

You cannot use the Free edition of TurboTax (TT) to do a self employed return. You will usually have to upgrade. But,

TurboTax also has another free product called the Free File Edition (not to be confused with the regular Free Edition).  It has free Federal preparation and free State preparation. There is no efiling fee. It is not available after October 15

The Free file Edition can handle a 1099-MISC.

The Free file Edition is more fully-featured than the regular Free Edition.  The Free File Edition can prepare Schedule A, C, D, E, and F that the Free Edition cannot. 

For Free File Edition a user needs to meet only ONE of these qualifications:

  •      AGI of $34,000 or less
  •      or active duty military (including Reservists and National Guard) with a military-issued W-2 and a 2018 AGI of $66,000 or less
  •      or eligible for the Earned Income Credit (EIC aka EITC).


The FREE FILE Edition is located at:
https://turbotax.intuit.com/taxfreedom

How to switch and start over in Free file Edition
https://ttlc.intuit.com/questions/2026912-how-do-i-switch-to-turbotax-freedom-edition

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