This year I received a very small payment that actually was earned by my old LLC which is now closed several years ago but I had missed to take it at that time before I closed my LLC. The amount is very small, less than $100, and there is not even a 1099 for it. I will show it on my personal income tax while doing taxes of this year in spring. Can I show it as other income, and what description can I write or it doesn't matter much?
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Follow these directions to post income not subject to self-employment taxes.
The income will be reported on Schedule 1 with the description that you entered.
What you write as a description is not important. Keep it short. Just a few words is all that's needed.
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