If you received a Form 1099-MISC reporting the self-employment income and it was not included as part of your tax return, then you may be contacted by the IRS at some point for not reporting all of your income. If you are contacted, the return will most likely be adjusted by the IRS and you will be billed for any unpaid taxes, penalties, and interest. Even if it is not much, it could add up. So, you can skip amending your return, but it may not be the best idea.
If you have already reported Schedule C self-employment income as part of your tax return, then you should not need to upgrade in order to amend your return and add the unreported income to the Schedule C.
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