w2 for business income

Forum|Forum|8 years ago
April 7, 2018
2 replies
0 views

My wife has a consulting business and worked as Adjunct Professor to teach a class at a university last spring. The institution sent a W-2 and not a 1099. How do I enter the w-2 as business income instead of personal income?

PatriciaV

Level 15

A W-2 must be entered under Wages and cannot be considered Self-Employment income.

If the school withheld taxes from her pay, you should enter the W-2 as it was reported to you. But if the W-2 reports only gross wages, you may wish to contact the school to be sure the W-2 wasn't an error on their part.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Carl

Level 11

As stated by PatriciaV, the W-2 will be reported and entered only in the W-2 section of the program. Now if the "statutory employee" box is checked on that W-2, make sure you check it in the program. That will allow you to legally deduct any expenses associated with that income, on SCH C instead of SCH A. If it's not checked, then you can't claim any expenses associated with that income on the SCH C.