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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?

 
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JulieH1
New Member

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?

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.

 

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4 Replies
JulieH1
New Member

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?

Do you mean you make $10,000 per year selling puppies or $10,000 per year total?  How much do you make selling puppies?  Knowing the answers to these questions will help me give you better guidance. 

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?

Do you have any retirement income? Soc Sec? Pension IRA?
pafigtree
New Member

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?

I collect Soc Sec income, and make an extra  $10.000/year gross income through a small home kennel selling puppies.
JulieH1
New Member

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?

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.

 

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