- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
No you do not have to wait for a statement for the income, but you are suppose to include the income on your tax return.
You probably will not receive a 1099-Misc for the income since it is less than $600 (which if you earn over that amount the company is required to file a 1099-Misc).
If the amount is less than $400 then you do not have to pay Social Security and Medicare tax.
You can add the amount as Less Common Income>Miscellaneous Income>Other Reportable Income.
@Isaechao14
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 22, 2020
8:39 AM