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posted Feb 14, 2024 6:09:27 AM

Should I file taxes for a job as a realtor. I made roughly 4k and spent about 5k towards it. I did bartend, taxes were taken all year and I should get money back there.

I only made about 15k bartending, I have 2 kids, and I’m paying on student loans. I'm in Texas and I used my savings to live off of and get my realtor job going.

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2 Replies
Level 15
Feb 14, 2024 6:16:49 AM

Yes, you need to file a tax return.   If you had even $400 of self-employment income you are required to file a tax return.   You will prepare a Schedule C for your business expenses.

 

All of your income including the bartending income and realtor income goes on that same tax return.

 

You have self-employment income for which you will pay self-employment tax for Social Security and Medicare.   You will need to use online Premium software or any version of the CD/download so that you can prepare a Schedule C for your business expenses.

 

 

 

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

 

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_US

 

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

 

 

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

 

 

https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-

calculator-2021-2022-50907/https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

 

 

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

 

 

Or—-Use this IRS site for other ways to file for free.  There are 8  free software versions available from the IRS Free File site

 

https://apps.irs.gov/app/freeFile/

 

 

 

 

Expert Alumni
Feb 14, 2024 6:29:28 AM

Yes, you are supposed to file one return each year that includes all of your income. 

 

I assume you got  a 1099-NEC for your real estate work. If that's the case, you need to enter that along with your W-2 from your other job. 

 

Here's how to get started on that:

 

  1. Open your return
  2. Select Wages & Income. 
  3. Scroll down to Other Common Income, expand the section by selecting the down arrow to the right. 
  4. Select Edit to the right of Income from Form 1099-NEC.
  5. Answer the first question Yes. 
  6. Select Add a 1099-NEC.
  7. Enter the information from your 1099-NEC, select Continue.
  8. Answer the remaining questions to report your income and expenses.