I'm over 70 and made some extra money and received a 1099-NEC. why am I being taxed on this??

[SweetieJean]

There is no age limit to pay taxes on money earned.  In fact, more of your Social Security benefits might become taxable as a result of this.

[MayaD]

You receive this form from a business that paid you $600 or more for nonemployee compensation. 

If you earned enough self-employment income, you must pay self-employment tax regardless of your age, even if you are retired and already receive Social Security or Medicare benefits. Net earnings are calculated by subtracting deductible expenses from your gross self-employment income (reported on the 1099-NEC form).

You have to file an income tax return if your net earnings from self-employment were $400 or more. If your net earnings from self-employment were less than $400, you still have to file an income tax return if you meet any other filing requirement. 

For more information, please check:

Self-Employed Individuals Tax Center

[Opus 17]

There is no elderly tax exemption.  You pay income tax if your taxable income is more than your standard deductions.  Also, you always pay self-employment tax (15%, social security and medicare) on money earned from working (performing a service or providing goods), even if you are also collecting social security.

Also, as your taxable income rises, part of your social security will become taxable.

[junemusser1999]

So if my income, 1099-NEC and 401k is over the standard deduction then I have to pay taxes on it even though i'm 80??

[SweetieJean]

Yes.  Why do you think there is an age limit?

[Opus 17]

---

@junemusser1999 wrote:

So if my income, 1099-NEC and 401k is over the standard deduction then I have to pay taxes on it even though i'm 80??

---

Yes, with the additional proviso that your income may also make your social security taxable.  And you have to pay self-employment tax on the 1099-NEC income even if it is less than the standard deduction.  

You can use this IRS web site.

https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return

If the 1099-NEC is not from self-employment (consulting, a side gig, etc) then we can discuss whether it should be "other income" (like a hobby), which is taxable income but not subject to the additional SE tax.  But we would need more details about what you did to get that money. 

[SweetieJean]

Are you perhaps confusing the fact that your Social Security Benefits are not reduced based on work income once you reach full retirement age?  That has nothing to do with the Federal tax on your income.

Some states have "senior" income exemptions, though, on the state return.