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2 replies

Employee
May 31, 2019
  • Go to Federal Taxes
  • Go to Wages & Income
  • Select "I'll choose what I work on".
  • Scroll down to Business Items and click Start (Update) on Business Income and Expenses (Sch C).
  • Click Yes you want to work on your business, and then describe your "business" and enter your earnings.

Be sure to keep good records in case of an audit. The IRS has been cracking down on cash only income. You must also claim all associated expenses (supplies, etc.)

VolvoGirl
Employee
May 31, 2019
I assume you are using the Online version?  If you go though Business Items it will only tell you to upgrade to Home & Business.  If you only have income and not much expenses you can try to enter it this way.

You need to report all your income even if you don't get a 1099Misc. You use your own records.  You are considered self employed and have to fill out a schedule C for business income.  Enter it under…..
Federal Taxes Tab
Wages & Income
Choose Jump to Full List -or  I'll choose what I work on
Then under 1099Misc and Other Common Income
Income from form 1099-MISC

Enter your income by filling out the 1099Misc form.  If you didn't get a 1099Misc form then put a single dollar $1 in box 7 for Non Employee Comp.  Then continue on though all the screens and after about 8 screens  you will get to a screen for any Cash Income or Other Income and enter the amount.

Then continue on and you will be able to enter expenses.  You can use Deluxe or Premier if you have very limited expenses such as supplies less than $100.   If you have more complex situations and/or higher expense amounts you will have to upgrade to the Home and Business product to fill out the full schedule C.