rjs
Level 15
Level 15

Get your taxes done using TurboTax

No, you can't disregard it. It's not clear whether you want to disregard the income or disregard the W-9.


You have to report all your income on your tax return, no matter how little it is. Even if it's only $25 you have to report it. If that is your only self-employment income for the year, you won't have to pay any self-employment tax, but you still have to include the $25 in your total income that you pay income tax on.


It's not clear whether you already filled out the W-9 and gave it to the insurance company. They probably won't pay you unless you give them the W-9. They need to have your Social Security number or EIN in case they do more business with you and have to send you a 1099.

 

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