- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is the income threshold for filing taxes even with a 1099Misc
I received a 1099 for IC work in 2016, but the income was less than 5,400. Do I still have to file taxes for this year?
Topics:
June 4, 2019
10:19 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Yes, it sounds like you might need to file, but it depends on your total self-employed expenses. If you have net income from self-employed work (this includes being an Independent Contractor) of $400 or more, then you're required to file. Net income means total business income minus business expenses.
Otherwise, the general filing requirements are based on gross income. You can read more about the requirements to file here: https://ttlc.intuit.com/replies/3302274
Let me know if you still have questions.
June 4, 2019
10:19 PM