There's no such thing as a "minimum profit". In fact, you don't have to make any profit at all really. If you are just "open for business" for even one single day during the tax year, then you may (or may not) be required to file a tax return. Even if the business has a loss. It is very common for a business to not make a profit in it's first three years too. But that doesn't mean you're not required to report it.
You are required to file a tax return if certain conditions are met.
- You have more than $12K of earned income (such as that reported to you on a W-2 as one example) that would include self-employment income.
- You have more than $400 of self-employment income.
- You have more than $1,050 of investment income
So if you have $11,999 of earned income reported to you on a W-2 along with $399 of self-employment income, that puts your total income over $12K and you are required to file a tax return.
Note I am assuming you would be filing a single.
