3552895
Thank you for the response!
I guess I didn't word that properly, however.
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You would not enter your $200 income in TurboTax with your Form(s) W-2. In general, this type of income would be reported on a Schedule C for self-employment and you can deduct your "Ordinary and necessary" business expenses against it.
However, since the amount is under $400, and it appears to be a one-time incident, you can report this income on your tax return as "Other Income." You will not be able to deduct any expenses for this income. (Note: If this work (handyman) is something you do on a regular basis, you would report it on a Schedule C).
You can report your $200 as "Other Income" as follows:
In TurboTax Desktop:
In TurboTax Online:
Click here for "Tax Tips for Handymen and Odd Jobs"
Click here for "What's the difference between self-employment income and other income?"
You would not enter your $200 income in TurboTax with your Form(s) W-2. In general, this type of income would be reported on a Schedule C for self-employment and you can deduct your "Ordinary and necessary" business expenses against it.
However, since the amount is under $400, and it appears to be a one-time incident, you can report this income on your tax return as "Other Income." You will not be able to deduct any expenses for this income. (Note: If this work (handyman) is something you do on a regular basis, you would report it on a Schedule C).
You can report your $200 as "Other Income" as follows:
In TurboTax Desktop:
In TurboTax Online:
Click here for "Tax Tips for Handymen and Odd Jobs"
Click here for "What's the difference between self-employment income and other income?"
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