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You have self-employed income over $400, which means you have to file a tax return with form Schedule SE.
Filing requirements generally depend on your filing status and age. In 2019 the minimum for single filing status if under age 65 is $12,200.
If your income is below that threshold, you generally do not need to file a federal tax return.
However if you may qualify for a Stimulus payment, if no one claimed you as a dependent. Please see this link: Stimulus Calculator
You have self-employed income over $400, which means you have to file a tax return with form Schedule SE.
That is self employment income.
You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.
How to enter income from Self Employment
Or There is also The Turbo Tax Free File program which is free for federal and state. And has more forms than the Federal Free Edition, like Schedules A, B, C , D, E, F, EIC, H, K-1, SE, etc.
To qualify for the Free File website you just need to meet one of these 3 things.
AGI $36,000 or less.
Active duty military with AGI of $69,000 or less
OR qualify for EIC (earned income credit.)
In order to use the Free File program, you have to start it at a special website. Try signing in at the top right.
How to switch to the Free File website
What about IRS Chart C:
"Other Situations When You Must File"
which says under item 3:
"You had net earnings from self-employment of at least $400."
Does this apply to an adult under 65 doing occasional gardening for a neighbor over the summer for $15/hour if it exceeds $400?
What is the exact description of self-employment? Is it any kind of informal handyman work like gardening?
What if I am paid $150 an Election Judge three times in a year equalling $450. Is that self-employment that requires filing?
Yes. You have to file if you had over $400 of income from working that you did not get a W2 for. An employee getting a W2 has taxes (SS & Medicare) taken out for them. If you are self employed meaning you are working for yourself you have to pay in both the employer share and your share of the FICA (SS & Medicare). That is the SE tax.
If you are not paid as a W2 employee with taxes taken out then you probably file as self employed. You might get a 1099Misc for the income. You need to keep good records and report all your income, even if you don't get a 1099Misc. You fill out a Schedule C in your personal 1040 tax return and pay Self Employment Tax in addition to regular income tax on it.
When you are self employed you are in business for yourself and the person or company that pays you is your customer or client.
To report your self employment income you will fill out schedule C in your personal 1040 tax return and pay SE self employment Tax. You will need to use the Online Self Employed version or any Desktop program but the Desktop Home & Business version will have the most help.
Being Freelance or independent contractor, outside consultant, sub-contractor, sole proprietor, self employed, etc. are all the same thing. You need to fill out schedule C for self employment business income. You are considered to have your own business for it. YOU are the business.
See Are you an Employee or an Independent Contractor?
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trw4321
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heartnbutterfly
New Member