My parents can claim me. I made around $3k w-2 and $650 with a 1099nec. Do I need to file my taxes? I'm under the $12k minimum income for filing taxes. The 1099 nec is what is confusing me. Do I have to pay social security and Medicaid even though I don't meet the minimum income?
You'll need to sign in or create an account to connect with an expert.
Yes, you will have to file a return if your self-employment net income (gross minus expenses) is at least $400. Form 1099-NEC is self-employment income.
Please see Do I need to file my own taxes if I'm a dependent?, What is the self-employment tax?, What self-employed expenses can I deduct? and What is Form 1099-NEC? for additional information.
Yes. There are different tax issues. Regular income tax is subject to the 12K minimum you mentioned and depends on income from all sources. On the other hand, self employment income which is due to your 1099-NEC is also subject to self employment tax of 15.3%. That tax is already accounted for on your W-2.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
cfajardo06
New Member
jddigitalchaos
Level 2
Raph
Community Manager
KAT1977
New Member
willkills
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.