☰
✕
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 Jun 4, 2019 6:45:14 PM

I own a shop on a site similar to Etsy- howevern, in 2017, I made less than 40$ of profit from it. Do I still need to include this on my taxes?

0 1 271
1 Best answer
Level 7
Jun 4, 2019 6:45:17 PM

Yes, the IRS expects taxpayers to report all income, including small business profits, if otherwise required to file a return.

If you had no other income in 2017, you are not required to file a return.

See Do I Need to File a Tax Return?

https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return


1 Replies
Level 7
Jun 4, 2019 6:45:17 PM

Yes, the IRS expects taxpayers to report all income, including small business profits, if otherwise required to file a return.

If you had no other income in 2017, you are not required to file a return.

See Do I Need to File a Tax Return?

https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return