I have a 1099misc of $4833.00 and an 1099INT of $26,18. Do I need to file with this low of an amount?

[Coleen3 · Accepted solution]

If the amount on the 1099-Misc is in box 7 then yes. You will have to pay social security and medicare taxes on that income. If it is in Box 3, then no.

Filing Requirements

The Gross income requirements for each filing status (If your income is below these, you don't need to file.)

• Single: $10,350 if under age 65. $11,900 if 65 and older.
• Married filing jointly: $20,700 if both under 65. ...
• Married filing separately -- $4,050 at any age.
• Qualifying widow(er) with a dependent child: $16,650 if under 65. ...
• Head of household: $13,350 if under 65.

Yes, those who are self-employed must file a federal income tax return if earnings are at least $400.