28601
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I am filing for FAFSA online for my school and they are asking for my 2015 taxes. In 2015 I only made $2,500 from an MLM and I received a 1099. Do I need to file taxes?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I am filing for FAFSA online for my school and they are asking for my 2015 taxes. In 2015 I only made $2,500 from an MLM and I received a 1099. Do I need to file taxes?

Yes, you do. When you have income reported in Box 7 of a 1099-MISC, you have to file a return and pay Self-Employment tax, even if you do not owe any ordinary income tax.
Hal_Al
Level 15

I am filing for FAFSA online for my school and they are asking for my 2015 taxes. In 2015 I only made $2,500 from an MLM and I received a 1099. Do I need to file taxes?

"Self employment tax" (SET) is how you pay social security & Medicare tax on this earned income, since none was withheld. SET is due even if you do not have enough income to have to pay any income tax. The threshold for having to file a tax return, when you have a 1099-Misc (box 7) is a mere $400.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question