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New Member
posted Feb 19, 2025 3:53:12 PM

Do I need to file taxes?

22 year old full time graduate student. Only income was $2000 from a summer job which I received a 1099 on.  Do I have to file taxes? 

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3 Replies
Expert Alumni
Feb 19, 2025 3:56:00 PM

Yes.  Since your income was on a 1099, this would be considered self-employment income.  When you have self-employment income of more than $400, you must file a return. 

New Member
Feb 20, 2025 4:46:53 PM

Thanks for your response!!  So even though my total income for 2024 was $2000 and I didn’t earn anywhere near the $14,600 income requirement to file taxes I still have to file? 

Expert Alumni
Feb 20, 2025 6:23:07 PM

Yes. You are confusing income tax with self-employment tax, Any  self-employed income of $400 or more must be reported so you can pay the Medicare and Social Security tax. 

 

You will not have income tax on that amount. If you had been paid wages, with a w2, they would have taken out Medicare and Social Security tax, but they didn't. An employer must match the amount withheld from the employee. Since you had no employer, you must pay both parts  of the SE tax. This is reported on your tax return and is the method for collecting the SE tax.

 

See What is the self-employment tax?