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

Bitcoin, Taxes, and the Modern Entrepreneur | H&R Block

Many entrepreneurs find themselves wondering exactly how Bitcoin is taxed. Our H&R Block Tax Pros are prepared to assist self-employed filers with Bitcoin taxation.

A Guide to Small Business Taxes

Small business taxes can be overwhelming as an entrepreneur. Learn more about small business taxes 101 with the experts at H&R Block.