topic Re: 1099 - nec in Get your taxes done using TurboTax

1099 - nec

Nezihe1 — Tue, 10 Mar 2026 05:08:25 GMT

Hello I haven't work this year, my family has been supporting me, as a hobby freelancer I created some idea videos for pinterest for their reward program, my only income will be less than 400$ for the year and only income that I have, do I have to file taxes?

Re: 1099 - nec

NCperson — Thu, 16 Jun 2022 11:51:54 GMT

@Nezihe1 - no, if your only income is less than $400, then there is no filing requirement......

https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center

"You have to file an income tax return if your net earnings from self-employment were $400 or more. "

Re: 1099 - nec

Hal_Al — Thu, 16 Jun 2022 12:02:03 GMT

The IRS considers anything on a form 1099-NEC to be self employment income. Technically, the filing requirement is $400. But, the way the math works out, there is no tax unless your self employment income is more than $432.

Re: 1099 - nec

rjs — Thu, 16 Jun 2022 14:36:03 GMT

Aside from the filing requirement for self-employment income, you must file a tax return if you received advance Premium Tax Credit for health insurance from the Marketplace ("Obamacare"), or if you received Advance Child Tax Credit payments. You might also want to file, even though you are not required to, if you qualify for the Recovery Rebate Credit and you did not receive a stimulus payment (Economic Impact Payment) for the full amount of the credit that you qualify for.

Re: 1099 - nec

Nezihe1 — Sat, 18 Jun 2022 19:26:41 GMT

Thank you so much for answering, I m assuming that for earning under 400$ company shouldn't send me 1099-nec, but if they do, even if I don't owe any taxes for the amount I made, am I obligated to file than?

Re: 1099 - nec

NCperson — Sat, 18 Jun 2022 19:28:35 GMT

@Nezihe1 - assuming we are talking 2022 and you did not get medical insurance from the Marketplace, then no, no requirement to file.

Re: 1099 - nec

Nezihe1 — Sat, 18 Jun 2022 21:20:39 GMT

Yes for 2022 and no medical insurance from marketplace, thank you for your help, I just don't want to have any problems later with IRS over a small amount made and not filing, thank you for clearing it for me

Re: 1099 - nec

Nezihe1 — Mon, 11 Jul 2022 08:50:52 GMT

One last question... Let's say I made more than 400$ and I have to file, but company I did the work for didn't send me the 1099-nec and I can't get one even after I tried to contact them, how can I file the amount I earned on the tax software easiest way?

Re: 1099 - nec

NCperson — Mon, 11 Jul 2022 10:50:19 GMT

@Nezihe1 - you'd still do everything the same as report the self-employment income as 'other income'. Easy.

Re: 1099 - nec

Nezihe1 — Mon, 11 Jul 2022 13:33:25 GMT

So that means I don't use the companies name and information unless I receive the 1099-nec from them correct?

Re: 1099 - nec

rjs — Mon, 11 Jul 2022 13:38:55 GMT

@Nezihe1

In TurboTax you enter the income as business income (self-employment income) that was not reported on a 1099-NEC. You do not have to enter any information about the company that paid you. You just enter the amount that you received.

You cannot report it as "other income." "Other income" is reported on Schedule 1 and is not subject to self-employment tax. Self-employment income is reported on Schedule C. If your self-employment income is more than $432 you will have to pay self-employment tax, even if your income is low enough that you do not have to pay any income tax. Income tax and self-employment tax are two separate taxes, but both are included on your tax return.

Re: 1099 - nec

SweetieJean — Mon, 11 Jul 2022 13:42:09 GMT

my family has been supporting me,

Most likely you are then someone's dependent, and thus would not qualify for a number of Federal tax credits.

State may be different.

Re: 1099 - nec

NCperson — Mon, 11 Jul 2022 14:00:55 GMT

@SweetieJean - so that it doesn't confuse the question that was posed (nor my response) what credits would the OP be eligible for as a dependent?

Re: 1099 - nec

rjs — Mon, 11 Jul 2022 14:29:57 GMT

@NCperson I'm not sure what you're asking. @SweetieJean's point is that there are many credits that the OP would NOT be eligible for as a dependent, but might have been eligible for if he or she were not a dependent. The most obvious, given the OP's low earned income, is the Earned Income Credit.

Re: 1099 - nec

NCperson — Mon, 11 Jul 2022 15:29:16 GMT

@rjs The OP never asked about credits, so why bring it up? Doesn't that risk confusing the OP? if it were bringing up things that the OP might be eligible for, then I understand that, but surfacing issues that the OP is not even eligible for, doesn't that risk the confusion?

Re: 1099 - nec

SweetieJean — Mon, 11 Jul 2022 15:57:34 GMT

OP asked if he/she had to file a return, and the response was "yes" if they have certain credits. More generally, those of us who have regularly answered questions here have been encouraged, for many years, to think ahead and offer our insights. See:

TurboTax Community Guidelines: Do's and Don'ts (intuit.com)

Re: 1099 - nec

VolvoGirl — Mon, 11 Jul 2022 16:30:38 GMT

@Nezihe1 If you are talking about 2022 the year is not over yet. You may have more income W2, 1099NEC or cash or another reason to file a return. Here's some general info.

For Freelance.....

If you got Cash. You don't need to get a 1099NEC or 1099Misc or 1099K. Even if you did you can enter all your income as Cash. Only the total goes to schedule C.

You will need to keep good records. You may get a 1099NEC at the end of the year if someone pays you more than $600 but you need to report all your income no matter how small and if you don't get the 1099NEC.

You use your own records. You are considered self employed and have to fill out a schedule C for business income. You use your own name, address and ssn or business name and EIN if you have one. You should say you use the Cash Accounting Method and all income is At Risk.

After it asks if you received any 1099Misc or 1099NEC it will ask if you had any income not reported on a 1099Misc. You should be keeping your own records. Just go through the interview and answer the questions. Then you will enter your expenses.

Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment. You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400. The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare. So you get social security credit for it when you retire.

The SE tax is already included in your tax due or reduced your refund. It is on the 1040 Schedule 2 line 4 which goes to 1040 line 23. The SE tax is in addition to your regular income tax on the net profit.

Here is some IRS reading material……

IRS information on Self Employment

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center

Pulication 334, Tax Guide for Small Business

http://www.irs.gov/pub/irs-pdf/p334.pdf

Publication 535 Business Expenses

http://www.irs.gov/pub/irs-pdf/p535.pdf

Re: 1099 - nec

Nezihe1 — Mon, 11 Jul 2022 18:00:34 GMT

Thank you so much 🙏🙏

Re: 1099 - nec

Nezihe1 — Mon, 09 Jan 2023 17:01:28 GMT

I have a new question for you, for the year of 2022 I made 2738$ ( also only income) as self employed person and I reside in state of Georgia, for that amount do I have to make estimated tax payments to state of Georgia?

Re: 1099 - nec

rjs — Mon, 09 Jan 2023 17:34:28 GMT

@Nezihe1 Your question about estimated tax was answered in your previous post of the same question two days ago. Please post your question only once.

If you have further questions about your self-employment in 2022 please add them to the thread that you started on January 7, to keep all the related discussion in one place.