Question

I have a question about expenses for self employed individuals. If I report Form 1099 self-employment income, how do I report my expenses?

Answer

Regarding expenses for self employed individuals, if you’re a sole proprietor, claim these on your Schedule C:

  • Your allowable business expenses
  • 1099-MISC income related to your business

For other expenses for self employed individuals, you might be required to file additional forms. Ex: Form 4562 for depreciation

Related Resources

Tax Rules for Sole-Proprietors with Employees

If you are a sole proprietor hiring employees for the first time, learn about the tax reporting requirements with the experts at H&R Block.

S Corporations And Partnerships

What’s the difference between partnerships and S Corporations? Need help with your Schedule K-1? Learn more and get tax answers at H&R Block.

Paying Self-Employment Tax

How does self-employment affect your tax rate? Learn how to file taxes for self-employment and get tax answers from H&R Block.

How Should Independent Contractors File Taxes?

How should you file taxes as an independent contractor? Learn more from the tax experts at H&R Block.