Yes. If your wife has her own business and it is not a S Corp or C Corp, then you would include her business income and expenses on Schedule C which will be part of your return.
To enter your self-employment income select the following:
- Federal
- Income and Expenses
- Show More next to Self-Employment
- Start next to Self-Employment
- Yes, to you have any self-employment income or expenses
- Enter the type of self-employment work you do and you can select that you use your name for your business
- Click through a few more screens and you will get to a screen that says "Your XX info"
- Click Looks good
- Then you will come to a screen that says Let's enter the income for your business. It will give you the option of 1099-NEC or Other self-employed income including the 1099K , cash and checks.
- If you do not select one, it will not let you enter your income
- Enter your self-employment income on the next screen
- Continue and on the next screen click add expenses
* Please note navigation may differ slightly depending on which version of TurboTax you are using*
The income and expenses as an independent contractor will be reported on Schedule C which is part of your overall tax return. This also means she will be subject to the 15.3% SE Tax. If she did not pay Self Employment (SE) Taxes in 2025, and if she plans to do this again in 2026, it may be a good idea to make estimated quarterly payments to avoid penalties.
Taking Business Expense Deductions
If she is in a partnership, then the partnership will file a 1065 and will give her a K-1 that will be entered on your return.
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