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Get your taxes done using TurboTax
@ry-guy wrote:
@Opus 17 I report income via W-2 and won’t receive a 1099-MISC this year since the income is ~$500. Just to confirm, I must still report the $500? And I am also able to deduct expenses relating to the $500? Is there a limit in amount of expenses that can be deducted? Thanks.
Work-related expenses can't be deducted from w-2 earnings for tax years 2018-2025. Even when they were deductible, there were limitations that prevented most people from getting an actual benefit.
If your only income is from wages, you are not required to file a return unless your total taxable income is more than $12,400. However, if you file a tax return for any reason, you must report all your income, no matter how small.
October 20, 2021
10:11 AM