Business income is money you earn from a sole proprietorship, an independentcontractor or self-employment work. Therefore, the IRS requires that thisbusiness income be reported on a Schedule C. TurboTax Self-Employed is designed to report this type of incomeand capture any expenses or deductions related to your business or line of workIn TurboTax, please see the following steps:Click Business, then Continue How do you want to enter your business income?, then I'll choose what I work on Business Income and Expenses, click Start/Update Did you have any income and expenses for a business in 2016?, click Yes First, let's confirm your business name and address, click Continue Enter Business Information, click Continue Tell us about your business, click Continue Enter Employer ID Number, If Any, click Continue Do you use the cash method of accounting to run your business?, click Continue Did you make any payments that required you to issue a form 1099?, click Continue Do any of these uncommon situations apply to your business?, click Continue Let's confirm your business info, click Continue Your Business pageGo to Business Income Business Income, then Click Start. General Income, click Start Tell us about additional income Type in your Description, click Continue

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My husband owned a business for 4 months how do I enter that income

Forum|Forum|7 years ago
June 3, 2019
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TurboTax Self Employed Online

Best answer by NicoleU

Business income is money you earn from a sole proprietorship, an independent contractor or self-employment work. Therefore, the IRS requires that this business income be reported on a Schedule C. TurboTax Self-Employed is designed to report this type of income and capture any expenses or deductions related to your business or line of work

In TurboTax, please see the following steps:

Click Business, then Continue
How do you want to enter your business income?, then I'll choose what I work on
Business Income and Expenses, click Start/Update
Did you have any income and expenses for a business in 2016?, click Yes
First, let's confirm your business name and address, click Continue
Enter Business Information, click Continue
Tell us about your business, click Continue
Enter Employer ID Number, If Any, click Continue
Do you use the cash method of accounting to run your business?, click Continue
Did you make any payments that required you to issue a form 1099?, click Continue
Do any of these uncommon situations apply to your business?, click Continue
Let's confirm your business info, click Continue
Your Business page
Go to Business Income
Business Income, then Click Start.
General Income, click Start
Tell us about additional income
Type in your Description, click Continue

N

NicoleUAnswer

Employee

Business income is money you earn from a sole proprietorship, an independent contractor or self-employment work. Therefore, the IRS requires that this business income be reported on a Schedule C. TurboTax Self-Employed is designed to report this type of income and capture any expenses or deductions related to your business or line of work

In TurboTax, please see the following steps:

Click Business, then Continue
How do you want to enter your business income?, then I'll choose what I work on
Business Income and Expenses, click Start/Update
Did you have any income and expenses for a business in 2016?, click Yes
First, let's confirm your business name and address, click Continue
Enter Business Information, click Continue
Tell us about your business, click Continue
Enter Employer ID Number, If Any, click Continue
Do you use the cash method of accounting to run your business?, click Continue
Did you make any payments that required you to issue a form 1099?, click Continue
Do any of these uncommon situations apply to your business?, click Continue
Let's confirm your business info, click Continue
Your Business page
Go to Business Income
Business Income, then Click Start.
General Income, click Start
Tell us about additional income
Type in your Description, click Continue