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My filling status is single 1099 misc and I’ve made under $11000 for the year. Do I still need to file? Also I’ve worked out of my resident state for all the earnings.
Are there deductions I can use?
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My filling status is single 1099 misc and I’ve made under $11000 for the year. Do I still need to file? Also I’ve worked out of my resident state for all the earnings.
Yes. The filing Requirements for 1099Misc self employment income is only $400. Even though you might not owe regular income tax on it you owe self employment tax. And you might qualify for some credits like the EIC.
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My filling status is single 1099 misc and I’ve made under $11000 for the year. Do I still need to file? Also I’ve worked out of my resident state for all the earnings.
review a copy of Schedule C (at <a rel="nofollow" target="_blank" href="http://www.irs.gov">www.irs.gov</a>) to see what deductions are available to you.
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My filling status is single 1099 misc and I’ve made under $11000 for the year. Do I still need to file? Also I’ve worked out of my resident state for all the earnings.
You need to file if you had at least $400 in net earnings from self-employment (income minus expenses) or you had marketplace health insurance and received advanced payments for the premium tax credit.
And, yes, 1099 MISC income in box 7 (non employee compensation) is considered self-employed income and reported on Schedule C of your return, therefore you can also deduct any business expenses associated with the1099 MISC income.
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