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Level 2
June 5, 2019
Solved

I made less than $1000 on self-employment income. Should I use deluxe edition or self-employment to add my income and deductions (about $420 worth)?

  • June 5, 2019
  • 3 replies
  • 13 views
I want to get away with spending as little as possible on submitting my taxes. If i can do my deductions for my courses and expenses through the deluxe edition, I would like to choose that one. Or if my income and expenses are so small, submitting deductions aren't worth spending the extra money on the self-employment edition, then I'll choose deluxe edition. But if it makes a difference or I can't submit deductions any other way than the self-employment, then I'll choose that option. Also, can you upgrade when you've already chosen the deluxe edition at a prorated amount?
Best answer by KittyM

The self-employment tax alone on $1,000 is $153.  You will want to claim your legitimate deductions to minimize your tax bill.  This requires you to use TurboTax Self-employed online, or the Home & Business download.

3 replies

KittyMAnswer
Level 10
June 5, 2019

The self-employment tax alone on $1,000 is $153.  You will want to claim your legitimate deductions to minimize your tax bill.  This requires you to use TurboTax Self-employed online, or the Home & Business download.

josh5Author
Level 2
June 5, 2019
Thank you!