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Level 1
posted Feb 16, 2022 5:01:29 PM

Had $1800 in RESIDUAL INCOME (sales from past years) on a 1099-NEC. Am filing it, but do I need to pay taxes on it? irs.gov website pamphlets not helpful either

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1 Replies
Expert Alumni
Feb 16, 2022 5:10:57 PM

Yes, you pay taxes on income. However, you do not need to pay self-employment tax if you were not actively looking to earn the money. You should not have a sch C on your return.