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

1192

Moderator

Feb 26, 2024 10:10:55 AM

Are you using TurboTax CD/Download or TurboTax Online?

New Member

Feb 26, 2024 12:06:36 PM

TurboTax Online

Moderator

Feb 26, 2024 12:23:59 PM

It doesn't ask for Net Income, it asks for Total Revenue.

New Member

Feb 26, 2024 1:48:24 PM

I don't think my page looked like that. I'll start again and see why it didn't show this page

New Member

Apr 25, 2024 11:12:39 PM

I'm not seeing that page either; I just have a page to enter Professional Fees

Intuit Alumni

Apr 26, 2024 7:29:32 AM

If you choose Business at the beginning of the self-employment interview, as seen in the image below, the page will appear.

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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?