You would report income that was paid for house sitting as self-employment income.
Since you did not receive a
Form 1099 Misc, please do the following in TurboTax:
Option 1: How to enter housesitting income
- Federal Taxes
- Wages & Income
- Self-Employment
- Income and Expenses, then Click Start.
- Did you have any self-employment income or expenses?, click Yes
- Tell us the type of self-employment work you do, type in your
description, click Continue
- Let's get income, you can make your selection
- If you do not have your Form 1099 Misc and wish to report, select Additional Income (check/cash payments), click Continue
- Did you have any more income for sales? No, if that is the only
one
- Did you have expenses?, if you want to report any expenses
related to this income, then you will need to upgrade to TurboTax
Self-Employed. If not, then you can continue using your current TurboTax
version.
Option 2: How to enter housesitting income
You
would just total up all cash, checks, and credit card income deposits that you
received as income in 2016 and enter them, along with your business expenses,
on your Schedule C in Turbo Tax. You can list them separately on one Schedule
C, or as a total on the same Schedule C. To do this in TurboTax, follow these
steps.
Log
into your tax return.
Use
the search box in the upper
right hand corner.
Type
in "schedule c" in the
box.
This
will bring up the "Jump to schedule c"
link...click that link.
From
here TurboTax will ask you some specific questions about your business.
You'll
be led through a different screens asking you more questions regarding your
business.
You'll
also be taken to a screen to enter your
income (this is where you can lump all your income together, or
list the specific types...cash, check, or credit card income).
Once
you've entered your income and clicked Done and/or Continue.
Turbo
Tax will bring you to the screen for you to choose what expenses you would like
to enter onto your tax return
Yes, you would report the honorarium and listed below is how.
To summarize it,
- honorariums paid to, for example, give a speech where no continuing relationship is made are miscellaneous income not subject to self-employment taxes.
- Honorariums paid in a continuing situation such as a guest lecturer to teach a course such as done by an Adjunct Professor are wages and should be treated as such by the payer.
- Honorariums in extremely rare instances may be a gift where a speech is made with no expectation whatsoever for payment, but payment is made.
The most common type (miscellaneous income) is reported in Turbotax as follows:
Under the wages and income tab select "Explore On My Own", and
at the bottom under "Less Common Income" select Miscellaneous Income, then
select Reportable Income, then
Select "Yes" and, in the next screen, describe the income.
