RobertB4444
Expert Alumni

After you file

The 1099-NEC sounds like it may be taxed as self employment income in which case you do need to file the return because you will owe self-employment tax on that $1000 and you have to file a tax return if your self-employment income is greater than $400.

 

If you don't think that the $1000 qualifies as self-employment income then there is no need to amend your tax return because the additional $1000 would not change your tax return and - as you point out - you are below the filing threshold anyway.

 

It may be to your advantage to simply wait.  If the IRS believes that the 1099-NEC represents self-employment income then you will receive a letter in the mail asking you to pay the taxes due for it.  If the IRS does not believe that it is self-employment income you will never hear anything about it and you will never have to worry about it.

 

Here is how to determine if your income is self-employment income.

 

@JackSommers 

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