LinaJ2020
Expert Alumni

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.  

 

@dave mul

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"