☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 16, 2023 8:29:33 AM

I'm a student and a dependent have a question on 1099-nec

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?

0 2 1038
2 Replies
Expert Alumni
Apr 16, 2023 8:46:46 AM

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.

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “self-employed” 
  3. Click on “Jump to self-employed”
  4. Answer the questions until the "Let's enter the income" screen and select "Form 1099-NEC"

 

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.

Level 15
Apr 16, 2023 8:49:00 AM

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.