Do I still need to file as a small business when earning only $177 in 2016 and not getting a 1099 misc? What about Schedule C? I've never taken any business deductions.

no effort to grow business, no regular or any activities, not concerned about profit.  quarterly payments are irregular.
AmandaR1
New Member

Business & farm

Yes, if you're filing a tax return, the rules require all self employed income to be reported on schedule C (regardless of1099-Misc received or not). If you're not required to file a tax return, then the amount would not need to be reported because it's under $400. In meeting the "business" criteria, it only applies to the activities you did for the $177 and related time period.

When you work, there's only two ways the income is taxed; as an employee (W-2) or as self-employed on a schedule C. However, since your net business income (revenue minus expenses), is below $400, there will be no self-employment taxes (schedule SE) on your return and you won't need to upgrade to the Self-employed Edition of TurboTax since you have no expenses. 

Note: if you only earned the money and didn't receive pay until 2017, as a cash basis tax payer (most common) you report income when received. You would report this in 2016. To check if you're required to file, see below: https://ttlc.intuit.com/replies/3302274



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