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Yes. Assuming you are a sole proprietor filing a Schedule C (as most start up business file), your social security number will be on the Form 1040 for the Individual side of your income taxes. However, when you set up your Business Profile for Schedule C, you can enter your EIN number. The income paid to you using either your EIN or your SSN (Social Security Number) can both be combined on the same Schedule C for the business.
(That said, if you have elected to be taxed as an S-Corporation, my answer will be different. If that is the case, please post below in the comments section.)
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You will still file a Schedule C as a self-employed person (unless a Corporation or Partnership). The Schedule C will flow onto your individual income tax return (Form 1040) and be netted with other personal income and expenses.
How to get to that area : While inside the software and working on your return, type Schedule C in the Search at the top of the screen (you may see a magnifying glass there). There will be a popup that says Jump to Schedule C. Select that to get to the general area.
Follow through all the areas in the Business section of the TurboTax Home & Business software and it will provide you with a lot of assistance. You'll notice blue links that have more information and details about the particular sections that will be extremely helpful.
When you set up your Business Profile, that is where you can enter your EIN. Then, when done with the Business Profile:
You will enter the total off ALL of your gross income received.
You will see a screen for 1099-MISC if you received one, if not Skip it.
Also, there will be a screen after the 1099-MISC screen to enter other
business income as General Income.
Then, subtract off expenses such as credit card processing fees and other ordinary and necessary business expenses in following screens.
Also, this link may be helpful to you IRS Small Business Help Center .
Just to be sure I understand correctly: as a sole proprietor, regardless of whether the multiple 1099s I receive use my SSN or EIN, all the income is combined on one Schedule C for which I would use my SSN and not EIN?
Thanks!
Is this still true for 2021?
That rule has not changed ... when you got the EIN for the Sch C your SS# was automatically linked together ... then on the Sch C the SS# and the EIN will BOTH be listed so all income received in both numbers are combined on the Sch C .
This still true for 2022 taxes? I make business entry using my EIN, and then I can also list 1099-NEC income sent to me under my SSN?
Is this still true for 2022 taxes? I make business entry using my EIN, and then I can also list 1099-NEC income sent to me under my SSN?
Yes, because you are a sole proprietor, you can combine your EIN and Social Security number on the same Schedule C.
@annoyedAmy
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