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Level 1
June 5, 2019
Question

1099k form with less than $50

  • June 5, 2019
  • 1 reply
  • 0 views
Is there a point of reporting this since it's such a small amount.

1 reply

Alumni - Expert
June 5, 2019

IRS rules dictate that you report all income earned, but on $50 you won't have any self-employment taxes owed. Report in the Less Common Income section, Miscellaneous Income.

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