Birthday money ?

[BlankPaperz]

I actually have two questions the first one is if I'm given a sum of money for my birthday like a couple hundred dollars like let's say 100-400. Would I have to pay taxes on it? Around birthday time for me uncle likes to send cash sometimes it's 200 or sometimes 100. I was never taught taxes besides the if you make 6k you have to file but they never said anything about gift money.

My other question is I get two different answers but if I earn income from selling art how much do I need to earn before I have to file? Some say 400 while some say 600 I know it's self-employment tax but kept getting different answers for the earning amount. I haven't really earned even 100 but I want to ask for the future. Thank you so much ~

[Mike9241]

birthday money is neither taxable nor even reportable by you.

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filing for self-employed is required if net earnings from self-employment is $400 or more.

the above is from chart C of 1040 instructions.  tell yor $600 friends not to practice taxes since they evidently never read the tax code or even the 1040 instructions

[VolvoGirl · Accepted solution]

Gifts are not taxable.  You do not enter Gifts Given or Received on your tax return.

Don't know what you heard about filing if you made $6,000.  Are you a dependent or independent?  What is your filing status, Single?   If you are Single and get a W2 anything over 12,950 is taxable. If you get a 1099NEC you need to report any amount and pay self employment tax.

Do you need to file a return?
https://ttlc.intuit.com/community/filing-and-paying-taxes/help/do-i-need-to-file-a-federal-return-th...

IRS Do I need to file? Interactive tool
https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return

FOR SELF EMPLOYMENT INCOME

You do need to report all your self employment income  and fill out Schedule C for it.  If you have a Net Profit of $400 or more you paid self employment tax on it.   For the 600.....If someone pays you 600 or more for the year they have to give you a 1099NEC (only if they are a business, not from individuals).  

[BlankPaperz]

Another thing I thought I would ask would be if I get money from a settlement and don't have any other income would I have to file taxes for it or only if I earn a certain amount? For example the Facebook lawsuit and how many people who claim will get a bit of settlement money. 

Thank you for the answers for the other questions ~