600563
You'll need to sign in or create an account to connect with an expert.
No, there's no limit. You report all the income you earned as a self-employed individual.
There is a certain
amount you have to make before you are issued (or issue) a 1099-MISC form however. You
must have made at least $600 or more before any 1099-MISC form is issued to
you. This is also true if you have to issue a 1099-MISC to somebody. You won't issue a form 1099-MISC unless you've paid the individual (or business) $600 or more.
Form 1099-MISC, Miscellaneous Income (per IRS regulations)
File this form for each person to whom you have paid during the year:
In addition, use this form to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Lusby
New Member
gborn
Level 2
faulknerj32
New Member
SS62
Level 2
ttla97-gmai-com
New Member