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You should continue to file as Married filing Jointly. The art income is just additional income that goes on a different line on form 1040.
There are actually two choices as to which line the income goes on: 1). hobby income on line 21 of Schedule 1 or 2). self employment (business income) on line 12 of Schedule 1. For a discussion, see https://www.irs.gov/newsroom/hobby-or-business-irs-offers-tips-to-decide.
Most artists will report it as business income. The good news is that you get to deduct expenses if it's a business. The bad news is you have to pay social security and medicare ("FICA") tax on your profits. The self employed pay FICA as self employment tax (SET). You don need a TIN, use your SS# and you do not file the business separately. It goes on Schedule C, then line 12 of Schedule 1, and is part of your jointly filed personal return. Your business expenses are deducted on Schedule C and are not part of itemized deductions. You get the standard deduction ($24,000 married) in addition to your business deductions.
In Turbotax, type> business income, self employed <in the find box. Then "Jump to". You will have to upgrade to the Self Employed edition of TT.
You should continue to file as Married filing Jointly. The art income is just additional income that goes on a different line on form 1040.
There are actually two choices as to which line the income goes on: 1). hobby income on line 21 of Schedule 1 or 2). self employment (business income) on line 12 of Schedule 1. For a discussion, see https://www.irs.gov/newsroom/hobby-or-business-irs-offers-tips-to-decide.
Most artists will report it as business income. The good news is that you get to deduct expenses if it's a business. The bad news is you have to pay social security and medicare ("FICA") tax on your profits. The self employed pay FICA as self employment tax (SET). You don need a TIN, use your SS# and you do not file the business separately. It goes on Schedule C, then line 12 of Schedule 1, and is part of your jointly filed personal return. Your business expenses are deducted on Schedule C and are not part of itemized deductions. You get the standard deduction ($24,000 married) in addition to your business deductions.
In Turbotax, type> business income, self employed <in the find box. Then "Jump to". You will have to upgrade to the Self Employed edition of TT.
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