Do I need to report international income under $500?

slieberman2 · ‎June 4, 2019

LinaJ2018 · ‎June 4, 2019

If this is a self-employed business income, you need to report if it is more than $400. You are required to file a schedule C and pay self-employment tax.

If this is not a business related income, if you are a US citizen or resident who meets the filing requirements, you are required to report worldwide income regardless of the amounts.

View solution in original post

LinaJ2018 · ‎June 4, 2019

If this is a self-employed business income, you need to report if it is more than $400. You are required to file a schedule C and pay self-employment tax.

If this is not a business related income, if you are a US citizen or resident who meets the filing requirements, you are required to report worldwide income regardless of the amounts.