Is Self Employment the same as an Independent Contractor as a Filing Status?

[JulieCo · Accepted solution]

Self-Employed is the version of TurboTax which can be used to create tax returns that include self-employment income such as work done by independent contractors.  In the Self-Employed version, you can enter independent contractor income AND expenses which will be recorded on Schedule C of your tax return.  Therefore, Self-Employed is not a filing status of your return, but the version of TurboTax which will include the necessary forms to include self-employment (independent contractor) income and expenses on your return.

If you do not have expenses associated with your independent contractor work to deduct on your tax return, then a different version of TurboTax may also work for you, such as TurboTax Deluxe.