I have a side-hustle where I'm required to split profits 50/50 as a contractual obligation. How do I file? Do I report full profits, even though I only make 50% of it?

Hello there, @carlyarbie. I'll share steps and information on how you can classify your transactions in QuickBooks Self-Employed (QBSE).

In QBSE, you can record the transaction as business income if this is a profit from your self-employed work. Then, enter the amount in a positive number. If this is an expense from your business, you should record it as a business expense and add the amount in negative form. Here's how:

1. Go to the Transactions menu.
2. Next, click Add transaction.
3. Enter the description and input the correct amount. 
4. Then, select Business under Type.
5. Choose the correct category (Example: Income for profits and Expense for expenses) and click Save when done.

For more details, please read this link: Categorize transactions in QuickBooks Self-Employed. 

To classify the transactions accurately, I recommend working with an accountant to ensure they are allocated to the correct accounts. If you're not affiliated with one, you can use our Find an Accountant tool to look for one near your area. 

Once everything is fine, you can work with a tax professional to help you file your self-employed taxes. For reference, check out this article: QuickBooks Self-Employed Annual Tax Guide. 

Should you need additional assistance in managing your self-employed transactions, feel free to leave a reply below. I'll ensure it will be resolved so you can get back to working order.