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I had a very small home bakery for 9 months in 2017 (now closed down). It was just me and i got paid in cash. I paid sales tax quarterly but where do i declare my income?

 
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Accepted Solutions
Coleen3
Intuit Alumni

I had a very small home bakery for 9 months in 2017 (now closed down). It was just me and i got paid in cash. I paid sales tax quarterly but where do i declare my income?

Assuming you did not open a corporation, on Schedule C Profit or Loss from Business. Record your earnings and expenses to determine your profit. 

Here's how:

  • Click on Federal Taxes on the top row of TurboTax Self Employed Online.
  • Click Wages & Income
  • Under All Income, click Show all income
  • Scroll to Self-Employment, click Start
  • Click Yes to Did you have any self-employment income or expenses?
  • Enter any income from sales or services that weren't reported on Forms 1099-MISC

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5 Replies
Coleen3
Intuit Alumni

I had a very small home bakery for 9 months in 2017 (now closed down). It was just me and i got paid in cash. I paid sales tax quarterly but where do i declare my income?

Assuming you did not open a corporation, on Schedule C Profit or Loss from Business. Record your earnings and expenses to determine your profit. 

Here's how:

  • Click on Federal Taxes on the top row of TurboTax Self Employed Online.
  • Click Wages & Income
  • Under All Income, click Show all income
  • Scroll to Self-Employment, click Start
  • Click Yes to Did you have any self-employment income or expenses?
  • Enter any income from sales or services that weren't reported on Forms 1099-MISC

I had a very small home bakery for 9 months in 2017 (now closed down). It was just me and i got paid in cash. I paid sales tax quarterly but where do i declare my income?

I don't have a 1099-misc. Is this something i should receive from the government? It was just me selling cakes for cash. Do i need to create my own 1099-misc?
Coleen3
Intuit Alumni

I had a very small home bakery for 9 months in 2017 (now closed down). It was just me and i got paid in cash. I paid sales tax quarterly but where do i declare my income?

No. Not everyone receives a 1099-MIsc. You would not issue one to yourself.

I had a very small home bakery for 9 months in 2017 (now closed down). It was just me and i got paid in cash. I paid sales tax quarterly but where do i declare my income?

Thank you so much!
Coleen3
Intuit Alumni

I had a very small home bakery for 9 months in 2017 (now closed down). It was just me and i got paid in cash. I paid sales tax quarterly but where do i declare my income?

my pleasure
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