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Regarding your job, are you an employee or an independent contractor? Are you paid on a 1099-MISC? Basically, if you receive payment for your services and it is not on a W-2, that income is usually considered self-employment. This requires an upgrade to the TurboTax Self-Employed package.
I have one usable w-2 with no other sources of income. The issue is technical. The website has "estimated taxes" entry. There is no option to remove it once in place, only to "revisit". Selecting nothing and hitting continue past it does not delete the entry. Only giving you the option to revisit again. It sticks you in an infinite loop.
You will need to delete the worksheets for Estimated Taxes. Do not worry if you do not see one or the other of these worksheets. If they are there, delete them.
If you were paid in cash or;
if your income was reported to you on a 1099-MISC with the amount in box 3 or 7, or;
if your W-2 has the "statutory employee" box checked, then:
As far as the IRS is concerned, you were paid that income while self employed and in business for yourself. Therefore you are required to report that income as self-employment income on SCH C as a part of your personal 1040 tax return.
Now, there are some exceptions to the above. To know if you qualify for an exception, you need to provide two peices of information.
- On what form is the income reported to you?
- Why specifically and explicitly were you paid that income? (As compensation for a university research project participant is one example.)
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