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Returning Member
posted Oct 27, 2021 10:54:42 AM

Loss of Self employment work due to the pandemic

Almost all of my self employed income comes from art and theatre based work and all that shut down during the pandemic. Do I still have to file Self employment taxes and a Schedule C even if most of my numbers (income and expenses) will be 0 for this last year? 

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1 Replies
Level 15
Oct 27, 2021 11:04:21 AM

If your net self-employment income is $400 or more you are required to report it on Schedule C. If it's more than $432 there will be some self-employment tax.