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dservi36
New Member

If my 1099-misc is only for $200, do I need to enter it as income and do I need to complete Schedule C and SE?

 
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1 Reply
MinhT
Expert Alumni

If my 1099-misc is only for $200, do I need to enter it as income and do I need to complete Schedule C and SE?

If your income reported on form 1099-MISC is less than $400, you do not have to pay self-employment tax and do not have to file Schedule SE. But this income is taxable and you have to report the form 1099-MISC.

If you have no expenses to claim against this income, you can use TurboTax Premier to enter your 1099-MISC and TurboTax will automatically populate a Schedule C.

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