My only income is from Etsy. I didn't make enough for them to be sending me a 1099. What forms do I need to fill out to pay my federal and state taxes?

[jesxpx]

I want to cover all of my bases. I don't want to miss any forms that may be required. 

[CarolC · Accepted solution]

Depending on how you run your business, to make a profit or as a hobby, determines how to report your income and expenses.  

If you sell on Etsy to make a profit, and you made $400 or more, you must file Schedule C.  If you sell on Etsy as a hobby, you will report your earnings as Miscellaneous Income and deduct your expenses on Schedule A.

If you are operating as a hobby, and your income is low enough, you may not be required to file a tax return.

See this TurboTax article Selling on Etsy & Your Taxes for more information.

See this TurboTax FAQ to see if you need to file a tax return.  Click "See entire answer" for the full page view.

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