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Ive made around $4000 dollars last year and it wasnt taxed. Im new to being "self employed" and im confused on how i should file. How much would I possibly owe?

Forum|Forum|5 years ago
January 27, 2021
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TurboTax Online

Best answer by AlanT222

In order to file your self-employment income, you must use either TurboTax Self-Employed or TurboTax Home and Business.

As a self-employed person, you would be able to deduct certain expenses from your income. Click here for more information on what expenses you can deduct.

If your only income was $4000 from self-employment, you will not pay any income tax, as it would be below your standard deduction.

However, you will have to pay self-employment tax on your net income after you account for your expenses.

A

AlanT222Answer

In order to file your self-employment income, you must use either TurboTax Self-Employed or TurboTax Home and Business.

As a self-employed person, you would be able to deduct certain expenses from your income. Click here for more information on what expenses you can deduct.

If your only income was $4000 from self-employment, you will not pay any income tax, as it would be below your standard deduction.

However, you will have to pay self-employment tax on your net income after you account for your expenses.

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VolvoGirl

Employee

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. Or use any of the Desktop CD/Download programs.

How to enter income from Self Employment

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653