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New Member
posted Jun 4, 2019 11:13:54 PM

If I own an online seller shoppe but made less than $200, do I need to file for that? Not sure and I don’t think I need to.

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1 Best answer
Expert Alumni
Jun 6, 2019 6:56:02 AM

It depends. If you intend to pursue this activity as a business with the intent to earn a profit, then you would report this as self-employment income on Schedule C (subject to self-employment income tax).

However, if this is a hobby or occasional income with no profit motive, you may report this as "Other Income" on your personal tax return. You may include hobby expenses up to the amount of hobby income, but you cannot report a loss on a hobby.

The distinction is especially important if you received Form 1099-MISC or 1099-K. This post may help you decide which is most appropriate: What's the difference between self-employment income and other income?

To find this section in TurboTax, open your return, then go to My Account >> Tools >> Topic Search. Type in "hobby income, loss", then click the topic in the list and GO to go directly to the start of this section. Follow the prompts to enter your hobby income and expenses.

1 Replies
Expert Alumni
Jun 6, 2019 6:56:02 AM

It depends. If you intend to pursue this activity as a business with the intent to earn a profit, then you would report this as self-employment income on Schedule C (subject to self-employment income tax).

However, if this is a hobby or occasional income with no profit motive, you may report this as "Other Income" on your personal tax return. You may include hobby expenses up to the amount of hobby income, but you cannot report a loss on a hobby.

The distinction is especially important if you received Form 1099-MISC or 1099-K. This post may help you decide which is most appropriate: What's the difference between self-employment income and other income?

To find this section in TurboTax, open your return, then go to My Account >> Tools >> Topic Search. Type in "hobby income, loss", then click the topic in the list and GO to go directly to the start of this section. Follow the prompts to enter your hobby income and expenses.