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gonzo1999
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LLC, little income, no 1099, showing loss

I have a small business (I'm the sole employee).  I have some income, but operated at a loss for 2016.  How do I enter my income and expenses on TurboTax without a 1099?
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2 Replies

LLC, little income, no 1099, showing loss

Just share exactly what you did here.  No 1099 income and that you were self employed.  We did that and it ran us through the schedule C, which we thought we had to do by ourselves.  We'd gone on line and found it, and the directions.  We filled it out and then opened Turbo Tax and they automatically did it based on the way we answered their questions.

LLC, little income, no 1099, showing loss

You can enter Cash Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.

You can include the other income as cash on your return and you will not need the 1099.  To do so, follow the steps below.
 
Go into your account with Turbo Tax
Select Federal Taxes, then
Select Income and Wages, then
Scroll down and select, Self-Employment - Income & Expenses -  Start
Say YES to Did you have Self Employment Income (if that screen comes up)
Then Tell Us The Type Of Self Employment Work You Do, here you can put in a description and Continue
The next screen will be Let's Get Income, here you will select 'Additional Income'.  This is for cash income.  
Then continue as you normally do with your return.
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