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Paul:
1) Yes, your wife is self employed and you will need to file using a Schedule C. If her business doesn't have an official "name", her name and social security number will suffice for naming the business.
2) Be sure that you offset any income with legitimate business expenses that she may have incurred, which will decrease her taxable income.
3) You should be submitting quarterly estimated income tax payments to the IRS as well as to your state, if that applies.
I'm going to attach a few TurboTax FAQs that will offer some information. But your most complete info will come from IRS Publication 334, linked below.
https://www.irs.gov/publications/p334/index.html
Here are the FAQs:
"Does a 1099-MISC mean I'm self employed?"
https://ttlc.intuit.com/replies/4770969
"If I didn't get a 1099-MISC, do I still need to report the income? Even if it's less than $600?"
"How do I make estimated tax payments?"
https://ttlc.intuit.com/questions/1900481-how-do-i-make-estimated-tax-payments
The info I've shared will at least get you started. Your wife will owe self employment taxes as well as income taxes on her income (net profit over $400 annually). Please post back if I can offer any further assistance.
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