I worked for a tutoring company/academy in 2023, as an independent contractor, earning over $400 but less than $600. So, I believe I need to pay both income tax and social security tax on that income. Since under $600, I did not receive a 1099-NEC. When I start to fill out "Schedule C", in TurboTax Deluxe, in "tell us about your business", it asks me about "ownership" of the "business" - I have to select myself, my spouse, or both of us. Do I select myself (since I was the only one doing the tutoring)? If I select "myself" as "owner", in the next screen, where it asks for "Business Information", do I put in the name of the tutoring company/academy and their address? Or, am I doing this wrong and need to fill out some other form? (I'm guessing the SE form that will take out the Social Security Tax will happen automatically inside TurboTax...)
Just enter your name as being the owner (myself). Use your business name; e.g., Bill's Tutoring Service. Use your address (assuming you did your tutoring out of your residence).
And yes, the program will compute your Self-Employment taxes (you'll get a partial credit for some of that SE Tax on another line of your 1040).