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makgold4
New Member

If I have a 1099 that is under $300 dollars do I have to file it?

 
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3 Replies
MargaretL
Expert Alumni

If I have a 1099 that is under $300 dollars do I have to file it?

It depends. If that is your only income, you don't have to file your 1099-Misc at all.  If you are required to file a tax return because of your other income, you must report 1099-Misc on your tax return no matter how small.

If I have a 1099 that is under $300 dollars do I have to file it?

Hello, I have two 1099 misc, both have box 3 other income amounts. When I enter it into turbotax, it must be glitching because it keeps saying to report it as a small business. I am not a business owner. I am checking all the appropriate boxes no's, and other and this income will not be an every year type of income but for some reason it keeps sending me to Schedule C. I already know I don't need a schedule C. I just need to know if there is any link to fix this glitch or if turbotax is working on it. Is there a video that shows exactly what to type in.

This whole situation would be avoided if companies pay their employees fair wages, breaks, and meals, etc. then people won't have to sue and I wouldn't get dumb checks for $100 when its going to stall my very large tax return. 

JohnB5677
Expert Alumni

If I have a 1099 that is under $300 dollars do I have to file it?

First question.  Yes the IRS does require that you report all income whether you get a 1099-MISC or not.  Margraretl was also correct.  If your income is low enough you do not have to file.

 

The second issue is posting into TurboTax.  Based on what you've told me you can post it like this:

  1. Enter your 1099-MISC [Continue]
  2. Describe the 1099-MISC  [Continue]
  3. None of these apply
  4. NO it didn't involve work like my job
  5. How often did you get this income - I got it this year
  6. Was there an intent to earn money?  NO

If all of that is true you will not be prompted to file a small business schedule

 

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