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lcavin08
New Member

If my ONLY source of income was a 1099-k of $2900, do I still have to file taxes? Or do a qualify to not file taxes because I am single and made under 10k?

 
1 Reply
AnthonyC
Level 7

If my ONLY source of income was a 1099-k of $2900, do I still have to file taxes? Or do a qualify to not file taxes because I am single and made under 10k?

Yes, if the 1099-K was self-employment income (i.e. business income - perhaps say something like Uber income).  For this type of income, you must file a return if it is over $400 because while you will not owe any income taxes due to the standard deduction etc, you may owe self-employment taxes on the income (FICA taxes).


Otherwise, you would not because you likely would not meet the filing requirements - information below

Read these two articles below - the first one is for general taxpayers and the second is for dependents.  



Note:  While you may not be required to file a federal return, you may still need to file a state return as their requirements can differ from federal.  You can view this article for more information about state filing requirements.

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