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All of your income needs to be reported if you have to file a tax return. The limits on 1099-MISC income refer to whether the company where you worked had to issue you a 1099 and whether you have to pay Self-Employment taxes on the income. You not only have to report the income, you need to pay self-employment tax (medicare and social security) on any amount over $400.
All of your income needs to be reported if you have to file a tax return. The limits on 1099-MISC income refer to whether the company where you worked had to issue you a 1099 and whether you have to pay Self-Employment taxes on the income. You not only have to report the income, you need to pay self-employment tax (medicare and social security) on any amount over $400.
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