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February 26, 2024
Question

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?

  • February 26, 2024
  • 1 reply
  • 0 views
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

    1 reply

    TurboTaxSusan
    February 26, 2024

    Are you using TurboTax CD/Download or TurboTax Online?

    gljsjtdsAuthor
    February 26, 2024

    TurboTax Online 

    TurboTaxSusan
    February 26, 2024

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