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The IRS would consider this self-employment income. You would receive a 1099-MISC if the total amount of earnings was $600 or more. Enter the income under the Additional Income category. You each will have a schedule C for your separate earnings.
If you have no expenses to report against this income, then you can use TurboTax Deluxe. Otherwise, you will need to have TurboTax Self-Employed version to record any expenses.
To begin in Deluxe, Type 'schedule c' in the search box, then select the 'jump to' link. Enter only the 1099-MISC income to avoid the upgrade. When you complete the first schedule C, add a second business to begin the 2nd schedule C.
The IRS would consider this self-employment income. You would receive a 1099-MISC if the total amount of earnings was $600 or more. Enter the income under the Additional Income category. You each will have a schedule C for your separate earnings.
If you have no expenses to report against this income, then you can use TurboTax Deluxe. Otherwise, you will need to have TurboTax Self-Employed version to record any expenses.
To begin in Deluxe, Type 'schedule c' in the search box, then select the 'jump to' link. Enter only the 1099-MISC income to avoid the upgrade. When you complete the first schedule C, add a second business to begin the 2nd schedule C.
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