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igna44
New Member

My income on 2016 was $6000 cash, do i have to do a self employed, with schedule c tax returns, or can i use the 1040EZ form i am 65 years old now

 
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Accepted Solutions
LindaA
Expert Alumni

My income on 2016 was $6000 cash, do i have to do a self employed, with schedule c tax returns, or can i use the 1040EZ form i am 65 years old now

If you received cash for working, it is self-employment income (Schedule C), and you'll need to pay self-employment taxes on the net amount (income minus expenses). You can't report self-employment income on a 1040EZ. You also cannot file a 1040EZ if you were age 65 or older in 2016. (Click the first screenshot below for the 1040EZ restrictions.)


To report your self-employment income (not reported on a 1099-MISC):

  • Open (continue) your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
  • Click My Account (top right of your screen).
  • Select Tools.
  • In the pop-up window, select Topic Search.
  • In the search bar, type self-employed.
  • In the results box, highlight self-employed, then click GO.
  • Answer Yes when asked Did you have any self-employment income or expenses? Note: You may be prompted to upgrade your version of TurboTax Online to continue.
  • Follow the onscreen instructions. When you reach the Let's get income screen, select Additional Income and click Continue. (Click the second screenshot below for reference.) 
  • On the Tell us about additional income screen, enter the income. (Click the third screenshot below.) When finished, click Continue and follow the onscreen instructions to the conclusion of this section.


Please see the FAQ below for more information.

Am I considered self-employed?  https://ttlc.intuit.com/replies/4771022

View solution in original post

1 Reply
LindaA
Expert Alumni

My income on 2016 was $6000 cash, do i have to do a self employed, with schedule c tax returns, or can i use the 1040EZ form i am 65 years old now

If you received cash for working, it is self-employment income (Schedule C), and you'll need to pay self-employment taxes on the net amount (income minus expenses). You can't report self-employment income on a 1040EZ. You also cannot file a 1040EZ if you were age 65 or older in 2016. (Click the first screenshot below for the 1040EZ restrictions.)


To report your self-employment income (not reported on a 1099-MISC):

  • Open (continue) your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
  • Click My Account (top right of your screen).
  • Select Tools.
  • In the pop-up window, select Topic Search.
  • In the search bar, type self-employed.
  • In the results box, highlight self-employed, then click GO.
  • Answer Yes when asked Did you have any self-employment income or expenses? Note: You may be prompted to upgrade your version of TurboTax Online to continue.
  • Follow the onscreen instructions. When you reach the Let's get income screen, select Additional Income and click Continue. (Click the second screenshot below for reference.) 
  • On the Tell us about additional income screen, enter the income. (Click the third screenshot below.) When finished, click Continue and follow the onscreen instructions to the conclusion of this section.


Please see the FAQ below for more information.

Am I considered self-employed?  https://ttlc.intuit.com/replies/4771022

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