How to Add Business or Freelance Income

Question:
How to add or report business income? Self-employment income, independent contractor, and Schedule C.

Article, Solution:

eFile.com is up to 60% less than other self-employed tax return preparation and e-filing platforms.

Use these steps to add your business or self-employment income - the eFile App will generate Schedule C for you so you do not need to manually fill in this form line-by-line.

1. Create your eFile Account | Sign into your eFile Account
2. Work through the tax interview; you will be brought through the income section where you will first be asked about W-2 income. Add this income if applicable before proceeding through the remaining sections. To quickly navigate to the business section, just select Federal Taxes > Income > Business.
3. Select that you have a business to add and enter your details - note: it is important that you select that this is for a business so Schedule C or Schedule SE can be generated. This applies if you own a business or you do freelance work; for tax purposes, you own your own business if you do freelance work. If you do not select that this is for a business, the IRS may contact you to correct this so you can pay self-employment taxes.
4. Enter income, deductions, and other expenses. You can add income that you did not receive a tax form for as well as income you received a 1099-MISC or 1099-NEC for.
5. Be sure you work through the entire business interview so you do not miss any deductible expenses. For example, both depreciation and vehicle mileage or use is entered towards the end of the section.

Once you finish, eFile will have generated your Schedule C and Schedule SE - you can see your return at any point under My Account by opening the PDF return in progress.

At any point, contact us with further questions if you are unsure of anything.

See more details on self-employment income.