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March 24, 2022
Question

I haven't received a 1099-K but I've made money through debit/credit card payments from my business. How do I file my Schedule C / form 8832?

  • March 24, 2022
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I haven't received a 1099-K, how do I file?

1 reply

March 24, 2022

Form 8832 is mailed in with a copy of your business tax return that you complete before you mail the form. The form cannot be electronically filed. This information from the SMB (Small Business) Guide explains the form and how to fill it out.  

 

The income that you made that was not reported on a 1099-K can be entered as other income into your Schedule C. In TurboTax, search for Schedule C and click on the Jump to link.

You can enter this directly into the software without needing to override Schedule C in the Forms mode:

  • In the Income section of your business, after the questions about your business set up 
  • Any 1099-NEC Income? answer yes or not depending on your circumstances, if yes enter the information and then continue,
  • Any 1099-MISC Income? answer yes or not depending on your circumstances, if yes enter the information and then continue,
  • Enter Business Income That's Not on a 1099-NEC or a 1099-MISC,
  • Choose Other Income and enter the amount, and continue

 

 

If your business is more requires more than a Schedule C, such as a multi-member LLC, you will need to use TurboTax business.

TurboTax Business doesn't handle the 1040 and Schedule C forms needed by home-based businesses, contractors, sole proprietors, and most single-member LLCs. Instead, TurboTax Business covers returns for corporations, partnerships, multi-member LLCs, and fiduciaries.

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