I have a question about expenses for self employed individuals. If I report Form 1099 self-employment income, how do I report my expenses?
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
Taxes for the self employed can be complicated. Learn the ins and outs of tax filing for freelancers, bloggers and contractors with the experts at H&R Block.
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.
Selling Herbalife, Mary Kay or Amway products? Learn more about independent distributor taxes with the experts at H&R Block.
Not sure what you'll need to know about how to start a business? Get business startup tips and learn about business tax requirements with H&R Block.