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Self-employed, asks you to enter your net income first, then does the deductions, reducing the net income you previously entered. What should I enter for the first net?
It asks you to enter your net income first, but then proceeds to reduce this after your deductions are entered in to the system. I am confused as net income is what we earn after our "loses". So what should I be entering when they first ask "net income". I feel like this should be my gross, then the system takes off deductions, giving me a net at the end. Worried I am doing this wrong
posted
February 26, 2024
7:40 AM
last updated
February 26, 2024
7:40 AM
6 Replies
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Self-employed, asks you to enter your net income first, then does the deductions, reducing the net income you previously entered. What should I enter for the first net?
Are you using TurboTax CD/Download or TurboTax Online?
February 26, 2024
10:10 AM
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Self-employed, asks you to enter your net income first, then does the deductions, reducing the net income you previously entered. What should I enter for the first net?
TurboTax Online
February 26, 2024
12:06 PM
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Self-employed, asks you to enter your net income first, then does the deductions, reducing the net income you previously entered. What should I enter for the first net?
It doesn't ask for Net Income, it asks for Total Revenue.
February 26, 2024
12:23 PM
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Self-employed, asks you to enter your net income first, then does the deductions, reducing the net income you previously entered. What should I enter for the first net?
I don't think my page looked like that. I'll start again and see why it didn't show this page
February 26, 2024
1:48 PM
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Self-employed, asks you to enter your net income first, then does the deductions, reducing the net income you previously entered. What should I enter for the first net?
I'm not seeing that page either; I just have a page to enter Professional Fees
April 25, 2024
11:12 PM
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Self-employed, asks you to enter your net income first, then does the deductions, reducing the net income you previously entered. What should I enter for the first net?
If you choose Business at the beginning of the self-employment interview, as seen in the image below, the page will appear.
Thank you for choosing TurboTax.
April 26, 2024
7:29 AM