Aimee918918
Returning Member

NEC income - best way to file?

Hi Community!

 

I have about $2500 in income from an NEC job. No other income besides unemployment and interest for 2020, I'm sorry to say.

 

Is it more advantageous to report expenses to bring down the tax burden - OR - to get a tax break by making a retirement contribution for the full amount?

 

Any thoughts on this?