Although clergy are considered self-employed for certain limited tax purposes, they are generally common law employees and will receive a W-2. You can use the deluxe version of Turbo. Tax as long as you don’t have additional side income. Your W-2 should have wages in box 1 and boxes 2 through 6 should be blank.
Self-employed taxpayers report their business income and expenses on Schedule C. Turbo. Tax can help make the job easier. Each year, sole proprietors have the chore of preparing and filing Schedule C with their 1040 to show the IRS whether their business had a taxable profit or a deductible loss.
, turbo Tax Self-Employed is the most expensive platform in our listing—it charges $120.00 for a federal tax return, plus $50.00 for each state tax return. But in exchange for higher costs, you get excellent customer service and plenty of assistance. Self-employed folks may need the extra help filing their tax returns.
“It is easy, reliable, quick and better than paying hundreds of dollars at a tax office. Even if you are an independent contractor or have a small business, it works!
, turbo Tax Premier or Self Employed will support Schedule D transactions. Please see the comparison of tax products at this page., and scroll down. See the heading in the left column titled Commonly Filed Tax Forms and Schedules.
Free filing of your simple federal and state tax returns, guaranteed Covers W-2 income, Earned Income Tax Credit (EIC) and child tax credits Jumpstart your return with last year’s Turbo. Tax info or import a PDF of your return from another tax software.
What is the best online tax software for self-employed individuals?
H&R Block offers four tiers of online tax software. We selected H&R Block Self-Employed as the best choice overall for self-employed individuals. We love H&R Block Self-Employed because it offers a dedicated tax filing process that’s tailored to the special needs of self-employed workers.
What version of TurboTax do I need to use to file taxes?
If you run a business, you need to declare your income on a Schedule C and so you must use Turbo. Tax Self-Employed (also called Home & Business). No other version offers this.