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February 15, 2021
Question

I do side job daycare but have not had the self employment tax payments before. what are those? It says I need to fill in a SE 1040 form but don't have one.

  • February 15, 2021
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1 reply

February 15, 2021

You side job is self employment income. 

To enter your self-employment income in TurboTax follow these steps: 

  • Go to Federal > Income & Expenses
  • Scroll down to See all income. In the Self-employment section, click Start next to Income & Expenses
  • Answer Yes to Did you have any self-employment income or expenses?
  • Continue through the interview to enter your business information.
  • When you get to the Let's Review Your Work Info screen, make sure everything is correct and then click Looks Good
  • On the Let's get income for work screen, select the type of income you want to enter and click Continue.
  • Proceed through the rest of the interview to enter your income

The Schedule SE will be created automatically.  

You can offset your self employment income with expenses which occurred in connection with the income.