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jasonjoel800
New Member

My 1099mis is $650, do I need to claim it?

 
1 Best answer

Accepted Solutions
jerry2000
Alumni

My 1099mis is $650, do I need to claim it?

Yes, you do. Any amount of income that is more than  49 cents must be claimed.

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2 Replies
VolvoGirl
Level 15

My 1099mis is $650, do I need to claim it?

Yes you have to claim all 1099Misc no matter how small.  If the amount is in box 7 you will self employment tax on anything over $400.
jerry2000
Alumni

My 1099mis is $650, do I need to claim it?

Yes, you do. Any amount of income that is more than  49 cents must be claimed.

View solution in original post

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