ThomasM125
Expert Alumni

Deductions & credits

If you reported $2,500 of self-employment income, you would likely receive an earned income credit that would be a few hundred dollars more that your self-employment tax. Also, if you earned money from a side job you are required to report it so it would be best to enter it on your tax return. 

 

Earned income under $2,500 will not qualify you for a child tax credit.

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