Consulting Income
Menu Path: Income > Business / Rental Income > Business Income (Schedule C)
Consulting income is usually considered self-employment income and should be entered in the Business Income (Schedule C) section.
To add a business, go to the Basic Business Information screen. Enter a short description of the type of work you did for the business description. For example, if you did consulting work, enter something like "business consultant" or "consulting service". Choose a business code that best describes the type of work you are doing. Most consultants choose Cash as the type of accounting method used. All of the other questions can usually be left with the default answers.
Consulting income is usually considered self-employment income and should be entered in the Business Income (Schedule C) section.
To add a business, go to the Basic Business Information screen. Enter a short description of the type of work you did for the business description. For example, if you did consulting work, enter something like "business consultant" or "consulting service". Choose a business code that best describes the type of work you are doing. Most consultants choose Cash as the type of accounting method used. All of the other questions can usually be left with the default answers.
