How do I report side gig income and expenses on Schedule C?

[Stephen19]

I’m trying to figure out how to handle the tax reporting for a small side gig I started last year. I got a 1099-NEC form from the client, but I also had about $300 in expenses for supplies and a new software subscription. I’m not sure if I should just report the net income or if I need to itemize those costs separately on my Schedule C.

[Luke67]

I also got a 1099 NEC last year for a side gig and I kept receipts for a few small things and in the end I reported the gross income and then deducted the 300 as expenses which lowered the profit

[Stella92]

From what I remember you file the gross income on your tax form and you list the 300 as business expenses on Schedule C so your profit is lower not just the income number

[Andrew.M]

I am not totally confident but I think the key is that you can deduct ordinary and necessary expenses which includes supplies and a software subscription and that reduces the amount of tax owed from the gig

[Oliver79]

One thing I am unsure about is whether the 300 dollars should be counted as a deduction for the year I am filing now or if any part belongs to a prior year?