I had two PT jobs this year. My husband had three FT jobs. My earnings on Redbubble are approximately 1,300$. I don't know how to go about filling our taxes.
I'm not even sure if we can file jointly or do we have to do it separately because of Redbubble earnings.
Your income from Redbubble is self-employment income and you should receive a form 1099-MISC by end of January/early February. From this income, you can deduct expenses which were necessary to generate the income.
On your tax return, you'll have report all income (forms W-2 and forms 1099).
If you have expenses to deduct from your self-employment income, you'll need to use TurboTax Self-Employed or TurboTax Home & Business (CD/Download)
Yes you can still file Joint. You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.
How to enter income from Self Employment
https://ttlc.intuit.com/questions/2903027-how-do-i-report-income-from-self-employment
You will file schedule C in your return for it. 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. You do get to take off the 50% ER portion of the SE tax as an adjustment on line 27 of the 1040. The SE tax is already included in your tax due or reduced your refund. It is on the 1040 line 57. 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
How to enter self employment income
https://ttlc.intuit.com/replies/4801198
On the Redbubble site they tell their designers that they will not provide tax forms because we are independent artists and not employees or contractors. So, how do we account for the earnings? What is the threshold to report any earnings? I am a new Redbubble seller and have only made 1 sale in 2020.
Per Redbubble:
https://help.redbubble.com/hc/en-us/articles/[phone number removed]-Where-is-my-1099-