turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

wxtax
Returning Member

May I ask what's the difference between Business income and Personal Income? I did not registered any business/company. Thanks!

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
IreneS
Intuit Alumni

May I ask what's the difference between Business income and Personal Income? I did not registered any business/company. Thanks!

Business income is income you receive from a business you own and run.  Personal income is everything else:  wages from a job, interest, dividends, stocks, etc.

If you didn't have your own business, then all your income is personal.



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

7 Replies
IreneS
Intuit Alumni

May I ask what's the difference between Business income and Personal Income? I did not registered any business/company. Thanks!

Business income is income you receive from a business you own and run.  Personal income is everything else:  wages from a job, interest, dividends, stocks, etc.

If you didn't have your own business, then all your income is personal.



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
wxtax
Returning Member

May I ask what's the difference between Business income and Personal Income? I did not registered any business/company. Thanks!

Because of I did not own a business, so I am not a Self-Employed person?
IreneS
Intuit Alumni

May I ask what's the difference between Business income and Personal Income? I did not registered any business/company. Thanks!

That's correct.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
wxtax
Returning Member

May I ask what's the difference between Business income and Personal Income? I did not registered any business/company. Thanks!

So I will be considered as Un-Employed?
IreneS
Intuit Alumni

May I ask what's the difference between Business income and Personal Income? I did not registered any business/company. Thanks!

If you have a job, you are considered employed.  If you do NOT have a job you are unemployed.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
wxtax
Returning Member

May I ask what's the difference between Business income and Personal Income? I did not registered any business/company. Thanks!

Thanks a lot! What the difference between Un-Employed and Not Employed?
IreneS
Intuit Alumni

May I ask what's the difference between Business income and Personal Income? I did not registered any business/company. Thanks!

Nothing.  
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question