1099 Individual Contractor

Forum|Forum|2 years ago
October 18, 2023
8 replies
56 views

So, this current year (2023), I worked as a 1099 individual contractor for less than 2 months. I recently got paid $1400 in October for services rendered. I know that you have to submit a 1040 ES every quarter to pay the estimated taxes owed. Last year (2022) I did not file any tax return because I was a full-time student and did not earn any income. The only income I have earned this year has been $1400. Do I still have to file 1040 ES for the $1400 that I earned? My filing status two years ago was Head of Household with 3 dependents since my wife is a non-US citizen and wasn't working at the time. If this year I am required to file a tax return, should I file as married but filing separately due to my wife being a foreigner? What is the upside and downside of filing as Head of House over Married filing separately in terms of 1099 individual contractor? Can I fill a 1040-ES using TurboTax? I forgot to mention that I currently reside overseas in Japan. Any help or guidance would be greatly appreciated. Thank you.

Not A Product Question

Best answer by dmertz

@Sammyhiro , generally agreeing with @TomD8 , I am just wondering if you have any other source of income -- i.e. US$1400 is surely not enough to feed a family. Therefore do you have other income sources w-- which might require to file a return.

Also assuming that you are a US person ( citizen / GreenCard), what visa is your spouse on ? Why did you not consider filing MFJ, if she has an ITIN & being married to a US citizen/ GreenCard holder ?

Please consider telling more of the situation -- if it is of no interest to the general users, you can always PM me ( no Personally identifiable info , please ) and one of us will help you through this.

Filing a 2023 tax return is necessary to pay the self-employment tax on the $1,400 even if there is no taxable income after subtracting the standard deduction.

If you had no 2022 tax liability you will not have any underpayment penalty whether or not you pay estimated taxes as long as you pay the tax liability (perhaps just the SE tax) by April 15, 2024.