Im my income was less than $500 do i have to report it

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Im my income was less than $500 do i have to report it

If it was W-2 wages, no

If you earned more than $400 net income (income less expenses) working as a self-employed individual (or independent contractor-1099-MISC), you must file a Schedule C, business income and expenses with your personal return and pay self-employment tax of 15.3%

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Im my income was less than $500 do i have to report it

If it was W-2 wages, no

If you earned more than $400 net income (income less expenses) working as a self-employed individual (or independent contractor-1099-MISC), you must file a Schedule C, business income and expenses with your personal return and pay self-employment tax of 15.3%