You will report your income made freelancing on Schedule C of your Form 1040.
Your first step as a freelancer is to gather and report all sources of your income. If you're like many freelancers, you have many sources of income.
When you're self-employed, you are your own boss—which is great news until tax time. In addition to regular income tax, freelancers are responsible for paying the self-employment tax of 15.3%. This tax represents the Social Security and Medicare taxes that businesses pay and that employees have taken out of their paychecks automatically. As a self-employed freelancer, you are considered both the employee and the employer.
As a freelancer, you'll likely have more business expenses than a typical employee, and you can take a number of tax deductions not commonly allowed as a regular employee. However, you're only allowed to take deductions that are ordinary and necessary for the operation of your business