DianeC958
Expert Alumni

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

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