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About your W-2 and self-employment
by TurboTax•9• Updated 2 weeks ago
We have the answers to your frequently asked questions about how to handle W-2s and self-employment income in TurboTax Live Full Service:
- Your W-2 also shows the amount of federal, state, and other taxes withheld from your paycheck, which explains why it’s such an important document for filing your taxes.
- You should get your paper or electronic W-2 no later than January 31 following the close of the tax year, which is usually December 31.
- You can upload your W-2 right in Full Service so that your tax expert can use it to prepare your taxes.
- If you have more than one W-2, add the other ones the same way—by selecting Checklist and Add.
- Keep in mind that you should only get a W-2 if you’re an employee.
- If you’re an independent contractor or self-employed, the work you do may be the same as an employee, but you’ll probably receive a Form 1099 from your employer instead. Self-employed income is the money you make from any contract, freelance, or self-employed work you’ve done throughout the tax year. This may include work for on-demand services (like Uber or Taskrabbit) or home-based businesses. You may receive a Form 1099-NEC, Form 1099-MISC, or Form 1099-K from the person or business that paid you, or you may have documented this income some other way.
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