Major life milestones often have a major tax impact. Changes in your marital status, having a baby or adopting a child can have significant impact on your taxes. This is the place to ask questions about dependents, real estate, and other various scenarios that play a significant role in what taxes you pay.
02-22-2014 10:45 AM
I made a small amount in 2013 conducting an insurance business out of my home. I kept track of my expenses and gross income. How do I report the income and expenses?
02-26-2014 01:53 PM
Welcome to the community! The form 2106 is available in our software and online programs all expect the free filing program. Your other question would best addressed by one of our tax professionals, and within our program you have the option to ask a tax advisor. I hope this helps!
Thank you for choosing H&R Block
02-26-2014 10:43 PM
When you say that you're conducting an insurance business out of your home, that makes it sound like you're self-employed.
If so, you don't claim expenses from self-employment on the 2106. You'll claim them on the Schedule C.