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Returning Member
posted Mar 11, 2024 8:12:31 AM

claiming income

I have income of under 600 that I got no 1099.  do I claim and how

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3 Replies
Expert Alumni
Mar 11, 2024 8:17:50 AM

If you are a U.S. citizen or resident alien, the rules for filing income say that you are subject to tax on worldwide income from all sources and must report all taxable income and pay taxes on that income.

 

What is the nature of the income that did not reach the level of $600?  The nature of the income will determine where and how the income is posted.

 

 

Returning Member
Mar 11, 2024 2:48:12 PM

Income was from commissions for insurance sales

Expert Alumni
Mar 12, 2024 11:50:39 AM

You need to claim it as Self-Employed income. If using Turbo Tax online.

 

  1. Open or continue your return in TurboTax.
  2. Search for Schedule C and select the Jump to link at the top of the search results.
  3. Answer Yes on the Did you have any self-employment income or expenses? screen.
    • If you land on the Your 2023 self-employed work summary page, select Review next to the work you're adding income for.
  4. Answer the questions on the following screens until you arrive at Let's enter the income for your work.
  5. Select Other self-employed income and select Continue.
  6. On the next page you can enter any cash, personal checks, credit card payments, or cryptocurrency (Form 1099-K) related to your self-employment. Here is where you will enter your income. 
  7. I don't know if this is residual income or not. If  you had any expenses, this year, for earning the income, you can claim those in the expense portion in working in this section.

If you use Turbo Tax Desktop, the steps are similar. 

 

@mohawk1949