Can I use Premium version for my 1099 misc income and expenses?

[tianwaifeixian]

My husband is a part time realtor work for another realtor company. He has regular W2 as well.  Can I use premium version to report the income on 1099-misc and deduct expenses as well. Or do I have to use home and business version?

[xmasbaby0]

If you are using desktop software you can use Premier.  If you are using online TT you need Self-Employed.

[tianwaifeixian]

I am using the one purphsed from Costco, which comes with a disc. So I assume that is a desktop version. 

[xmasbaby0]

Yes---Costco only sells desktop software

[VolvoGirl]

In fact you could even buy the Desktop CD/Download Deluxe version.  All the Desktop programs have the same forms.  You do get more help and guidance in the higher versions.

[tianwaifeixian]

Ok. I just called the TT customer service. I was told that if I do not have expenses, then I can use Premium. But if I have expenses, I have to use Home and business. Is that correct? we are not independent contractor and do not have our business. We just get 1099-misc from another compnay. But we do have expenses. Can someone confirm?

[xmasbaby0]

Did Customer Service realize that you were referring to DESKTOP software and not online software?  The desktop versions of TurboTax have all of the same forms and schedules.. ...If they thought you meant online Premier the answer to use Self=Employed would be right.    If you have the download/CD desktop software then it can prepare a schedule C.  The CS agent either misunderstood or needs more coaching on the TT products.

[tianwaifeixian]

I did. I told her it is the desktop not the online version. She still said the same thing.... 

[xmasbaby0]

Sorry--she was wrong.  

[VolvoGirl · Accepted solution]

No.  Online versions are different than the Desktop programs.  In the Online Premier (and Deluxe) you can enter 1099Misc self employment income if you don't have any expenses.  If you have expenses you need to use the online Self Employed version.

As I said above if you are using the Desktop CD/Download program you can use any version (even Deluxe) even if you have expenses.  

By the way, the version is called Premier not Premium.  There is an extra service bundle called Premium.  

[tianwaifeixian]

so are you saying that in the Premium desktop version, I need to fill out the form by myself not with guided questions for the 1099 expenses?

[tianwaifeixian]

Thanks for pointing out! 🙂 I didn't realize that at all LOL

[VolvoGirl]

And you will be filling out a schedule C for the 1099Misc.  And pay self employment tax on a Net Profit of $400 or more.  That is self employment income independent contractor income.  You are considered to have your own business for it.

[VolvoGirl]

It will still ask you the questions.  I don't know what other questions the Home & Business will have.  Maybe more in depth questions on a home office?

[tianwaifeixian]

I don't know either. I haven't installed yet since if I open the box, I can't return it anymore...