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Get your taxes done using TurboTax
@Critter-3 wrote:
If you are new to being self employed, are not incorporated or in a partnership and are acting as your own bookkeeper and tax preparer you need to get educated ....
If you have net self employment income of $400 or more you have to file a schedule C in your personal 1040 return for self employment business income. You may get a 1099-Misc for some of your income but you need to report all your income. So you need to keep your own good records. Here is some reading material……
I doubt that selling $600 of used items on FB marketplace counts as an "ongoing trade or business." But it certainly does cross that line for some people.
August 25, 2020
10:07 AM