Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 

Self employed partnership, do I report the business total or just my portion?

 
2 Replies

Self employed partnership, do I report the business total or just my portion?

You would put in your business' total income.

 

In TurboTax, you'll be asked if your business is a partnership, and what percentage of the business belongs to the other person(s). TurboTax will then claim only your portion of the income on your return. The same goes for expenses, unless you enter an expense that is just for yourself and not the whole business.

 

Self employed partnership, do I report the business total or just my portion?

I was able to reach someone on the turbo tax chat and they told me to do the opposite. Just to claim half of the business profits.