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Get your taxes done using TurboTax
The $400 is the filing requirement to file a Schedule C.
If your employee or contractor earns more than $600, you as the payor is required to issue a Form1099-MISC.
For the payees or employees who receive a Form 1099-MISC, they are required to file a Schedule C and pay self-employment tax if they meet the self-employment requirements and it is more than $400.
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‎February 15, 2020
8:07 AM