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Get your taxes done using TurboTax
The $600 threshold is the amount for which the payer is required to issue a 1099-NEC. The threshold for you being required to report it is 50 cents. And these thresholds apply to the total for the year, not to the amount of each payment.
You have to report all of your income, no matter how little it is. Even if you did not get a 1099-NEC you would still be required to report the income.
March 21, 2023
7:53 PM