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If my net income from my part time independent contract work was less than $400, and I have a regular full time job, do I still need to report it?

 
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AlanT
Expert Alumni

If my net income from my part time independent contract work was less than $400, and I have a regular full time job, do I still need to report it?

If your self-employment income of less than $400 was the only income you received in 2018, you are not required to file a return.

However, if you are otherwise required to file because of your regular full-time job, you must report the self-employment income as the IRS expects taxpayers to report all taxable income.

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2 Replies
AlanT
Expert Alumni

If my net income from my part time independent contract work was less than $400, and I have a regular full time job, do I still need to report it?

If your self-employment income of less than $400 was the only income you received in 2018, you are not required to file a return.

However, if you are otherwise required to file because of your regular full-time job, you must report the self-employment income as the IRS expects taxpayers to report all taxable income.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

If my net income from my part time independent contract work was less than $400, and I have a regular full time job, do I still need to report it?

Thank you for breaking it down into the two situations Alan. That was what I was having trouble finding.

I appreciate your help!

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