Tax Year Prior to 2020: Hi! I only made $586.00 on a w2 working as an avon employee. I also sold only $386.00 as an independent sales associate. Can I file the 386.00 as misc. income?
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Tax Year Prior to 2020: Hi! I only made $586.00 on a w2 working as an avon employee. I also sold only $386.00 as an independent sales associate. Can I file the 386.00 as misc. income?
I am 70 and receive social security. Also, I file jointly with my husband and he is retired and reports a non taxable pension and social security. Do I need to use the self-employed turbo tax? If not, it will save me some money:) Thanks so much!!
Tax Year Prior to 2020: Hi! I only made $586.00 on a w2 working as an avon employee. I also sold only $386.00 as an independent sales associate. Can I file the 386.00 as misc. income?
Yes. Since it was under $400, you can file it as Miscellaneous Other Income on line 21 of the Form 1040. Actually, the best way to enter it is as Hobby Income which will also go on line 21. Here's where to go to enter it:
Federal
Taxes tab
(Personal tab in the Home & Business version)
Wages
& Income (Personal
income in the Home & Business version)
Continue
or I'll Choose What I Work On (if they show up)
scroll
to Less Common Income
then, Miscellaneous Income, 1099-A,
1099-C
select
to Start or Update
on
the next screen, scroll to Hobby Income and Expenses