How do you report freelance or self-employment income on your tax return?

When reporting freelance or self-employment income on your tax return, you would typically use Form 1040 and attach Schedule C or Schedule C-EZ. These forms allow you to report your income and deductible business expenses related to your freelance work.

Make sure to accurately record all income earned from your freelance or self-employment activities, including any payments received in cash or through online platforms. Keep detailed records of your business expenses, such as equipment purchases, office supplies, and travel costs.

It is essential to report all income earned from freelancing or self-employment to avoid potential penalties or audits from the IRS. Consulting with a tax professional or using tax software can help ensure that you accurately report your income and maximize any deductions available to you.