, Answering FAQ'sTurboTax Employee
What is Schedule C-EZ?
Many taxpayers receiving a Form 1099-MISC for the occasional or one-time odd job use a Schedule C-EZ. This form allows you to deduct limited expenses against your self-employment income.
Schedule C-EZ is a simplified version of Schedule C, Profit or Loss From Business (Sole Proprietorship). Certain self-employed taxpayers and statutory employees with simple business expenses may be able to file Schedule C-EZ instead of Schedule C.
TurboTax will step you through your Form 1099-MISC income, and determines the correct version of Schedule C for your tax situation.
Entering Schedule C-EZ in TurboTax.
TurboTax will walk you through your return step-by-step and determine, based on your answers, the correct version of Schedule C for your specific tax situation.
If you've already gone through the TurboTax step-by-step interview and want to jump directly to the entry screen for Form 1099-Misc for Schedule C-EZ, follow these steps.
- Select Federal Taxes (in the Basic, Deluxe & Premier editions).
In Online TurboTax, click the bars at the upper left corner to show Federal Taxes on the selection list; enlarge the screen if needed to show the left side selection list.
- Select Wages & Income, and in the next screen, click I'll choose what I work on.
- Scroll down the Your Income Summary screen until you see the Other Common Income group.
- Click on the Start/Update button next to the Income from Form 1099-MISC topic.
- First you'll enter your Form 1099-MISC income, then click Continue.
- On the Tell us why you received this 1099-MISC screen, check the line describing the reason for your income.
If you don't have a business, most occasional income is often considered freelance or independent contractor.
If you have a business and need to use a Schedule C, upgrade to the TurboTax Home & Business edition to enter detailed income and expenses, refer to Schedule C.