- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I am full retired (73) but sell a few puppies per year out of my home. How to file for taxes. Make less than 10.000/year. Do i need to file?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
With a $10,000 gross income, this looks like a business and not a hobby.
I assume you have not incorporated or gotten an EIN ( a business number to file taxes) so you will do the tax form with your Social Security Number.
You need to file a tax return using a version of Turbo Tax which includes a Schedule C. On the Schedule C you can add your expenses and how much income you received. After the two are compared, Turbo Tax will tell you if you had a profit. You will pay taxes on the profit.
To file a Schedule C or C-EZ using an online product, you'll need TurboTax Self-Employed or TurboTax Live. Both these versions include Schedule C.
You can also use the CD/download version of TurboTax Deluxe, Premier, or Home & Business to file schedules C or C-EZ. These versions can be purchased online and must be installed to your computer.