1099 compensation

Since you got a 1099-MISC form, you'll want to report the $10,000 as self-employment income. Because you're reporting the $10,000 as self-employment income, you'll be able to deduct the $10,000 gear rental as Rent expense on Schedule C. That will net out to $0 taxable income. 

• If you're using TurboTax Online, you'll need to use the TurboTax Self-employed version.
• If you start your return on a lesser version, TurboTax will most likely inform you that you have to upgrade to self-employed.

To enter your business income:

1. Open or continue your return in TurboTax
2. Search for self employed income (use this exact phrase, don't add a hyphen) and select the Jump to link at the top of the search results
3. Answer Yes on the Did you have any self-employment income or expenses? screen
   • If you land on the Your 2022 self-employed work summary page, select Review next to the work you're adding income for
4. Answer the questions on the following screens until you arrive at Let's enter the income for your work
5. Select the form that applies to your situation and select Continue
6. You can enter the info from your 1099 form on the following screens.

To enter your business expense, see Where do I enter my self-employment business expenses, like home office, vehicle mileage, and supplies?