Will turbotax deluxe handle a self employment tax return if it's a simple one and I don't need help identifying expenses?

[bb417253355]

I used Home & Business last year but I'm a financial contractor and my business expenses are easily identified. Just need to know if Deluxe will allow me to enter a 1099 and a W2 and SE expense and properly calculate self employment tax. I'm about to purchase and just want to get the correct version.

[AmyW · Accepted solution]

No. If you are using the online version of TurboTax, then you will need TurboTax Self Employed if you have business expenses. TurboTax deluxe will only handle Schedule C without expenses. 

If you are using the online version of TurboTax, Self-Employed would enable you to enter self-employment income and expenses and maximize deductions geared toward self-employment. If you qualify, you may also be able to use the online Freedom edition of TurboTax that includes Schedule C. To qualify, you must have an AGI of 33,000 or less, be on active duty with the military and have an AGI of 64,000 or less, or qualify for the Earned Income Credit. To use the freedom version of TurboTax, go to the website below: http://turbotax.intuit.com/taxfreedom/.

The equivalent in desktop software is TurboTax Home and Business. Although all desktop versions include all forms and schedules, Home and Business was designed for self-employment and entering expenses, so it will be the most straightforward software to complete your tax return.  

[ttrv1719]

This is probably one of the most helpful things. I am new to filing taxes as a business. So, it looks like I can file schedule C and 1099s with this software. If I use the TurboTax freedom, can I at the same time include W2s because I also worked for other companies or would I have to do that separate?

[VolvoGirl]

@ttrv1719 yes you file all your income (w2 & Sch C) on the same tax return.  If you use Turbo Tax Online you can only enter self employment business expenses in the Self Employed version or any Desktop program.

 You can enter all your income & expenses into Tax Freedom.  For 2017, To qualify for the Tax Freedom website  you just need to meet one of these 3 things
AGI $33,000 or less
Active duty military with AGI of $66,000 or less
OR qualify for EIC (earned income credit.)

In order to use the Tax Freedom Edition, you have to start it at a special website:
<a rel="nofollow" target="_blank" href="http://turbotax.intuit.com/taxfreedom/">http://turbotax.intuit.com/taxfreedom/</a>

Do not sign in at the top.  Use the bottom I QUALIFY START NOW
and set up a new account or it will take you back to regular Turbo Tax.

How to switch to Tax Freedom
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/3491786">https://ttlc.intuit.com/replies/3491786</a>

[ttrv1719]

If I don’t qualify for tax freedom, what TurboTax filing option can I use? I want to be able to file W-2s from my employment jobs and my 1099s from Uber and Lyft. So I need to be able to electronically do SE, schedule C, and 1040. Unless I am missing another form, that’s all I should need. Any recommendations?

[VolvoGirl]

You will need to use the Self Employed version or buy any of the Desktop cd/download programs.  All the Desktop programs have the same forms.  You can see them here, <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/personal-taxes/cd-download/">https://turbotax.intuit.com/personal-taxes/...>

For Online......You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.

How to enter income from Self Employment
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/2903027-how-do-i-report-income-from-self-employment">https://ttlc....>

[gonzo91143]

will turbotax deluxe which I have purchased handle a self-employment tax return with itemized deductions and expenses

[DoninGA]

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@gonzo91143 wrote:

will turbotax deluxe which I have purchased handle a self-employment tax return with itemized deductions and expenses

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If you purchased the 2021 TurboTax desktop CD/Download edition to install on your personal computer it supports entry of self-employment income and expenses on Schedule C.

The TurboTax Deluxe online web based edition will not support entry of self-employment expenses and you would need to upgrade to the Self-Employed edition.