Can I deduct expenses with a 1099 from a company? Or can I use the income from a 1099 as self employment and deduct my expenses without listing a 1099?

[TomYoung · Accepted solution]

I'll assume your reference to "1099" is a reference to a 1099-MISC, a 1099-MISC with an amount in Box 7.

If those assumptions are correct then you will be reporting that income as self-employment income.  If you have associated expenses connected with that income then you can deduct those expenses, but in order to do that in an online version of TurboTax you need to move up to TurboTax Self-Employed.  TurboTax Deluxe, which you seem to be using, will only do a Schedule C-EZ and TurboTax will not allow any expenses to be entered on that Schedule.

Tom Young

[emilyfuoco]

Thank you Mr Young.

[Critter]

In the program you can enter your total income from your records and skip the 1099 entry screen all together ... so you never have to wait for that form to come.