The IRS considers
undocumented cash income (no W-2 or 1099-MISC), for work performed, to be self
employment income. You report the income from your own records.
Enter at "Business Income & Expenses" and
TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct
any expenses associated with this income. You'll also have to pay self employment
tax (social security & medicare tax) on any profits greater than $400.
You may have to upgrade to the Self Employment
version of TT. If you have no expenses to deduct, There's
a chance you may be able to use TT Deluxe or Premier. Enter your income at the
1099-Misc screen (even if you didn't get a 1099-misc). You do not need the
payer's ("employer's") Employer ID Number (EIN).
In TurboTax (TT), enter at:
- Federal Taxes tab
- Wages & Income
Scroll down to:
- Other Common Income
-Income from Form 1099-Misc
When asked why you got the 1099-Misc, select “Freelancer or
Independent contractor”
https://ttlc.intuit.com/questions/1901317-schedule-c-ez-net-profit-from-a-business
