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November 11, 2020
Question

My wife has started a counseling business in June . We want to begin using this . ? Start when ?

  • November 11, 2020
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    Employee
    November 11, 2020

    So as of June 2020 your spouse is self-employed and you need to know how to deal with self-employment income?    You will enter the self-employment income on your joint return for 2020 when you prepare it and file it in early 2021.

     

    What if I didn’t get a 1099-MISC, but made money from self-employment?

    If you weren’t paid $600 or more, a business isn’t required to send you a 1099-MISC, but you still need to report the income.

    To enter your self-employment income not reported on a 1099-MISC:

    1. When in your account, select the Take Me to My Return button on the main screen.
    2. Type “Schedule C” in the Search box
    3. Select the “Jump to” link.
    4. Answer the general questions about your business (or select Edit at the work summary screen).
    5. At the Let’s get income for… screen, select Additional Income.

    If you did make $600 or more, contact the company or individual you worked for.

    Related Information:

     

    https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

     

    https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

     

    https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

     

    https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

     

    https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

     

     

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**