For tax year 2018, I received a 1099-MISC for under $200 as a residual from when I used to be self-employed in previous years. I did not receive any other 1099-MISC forms and had no other self employed income for 2018. The rest of my income is from W-2 employment. Do I have to file this 1099-MISC considering my self-employment income is under $400? If so, how would I go about doing this? Thanks in advance for any assistance.
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You still need to report the $200 shown on this 1099-MISC as income on your return -- it's still taxable income.
But, it won't be subject to self-employment tax, since your net SE income is less than $400.
Simply report it in TurboTax in the Wages and Income area of whichever TurboTax version you're using, then enter under 1099-MISC. You'll have to pay any tax that may be due on the income, but no self-employment tax on it.
You still need to report the $200 shown on this 1099-MISC as income on your return -- it's still taxable income.
But, it won't be subject to self-employment tax, since your net SE income is less than $400.
Simply report it in TurboTax in the Wages and Income area of whichever TurboTax version you're using, then enter under 1099-MISC. You'll have to pay any tax that may be due on the income, but no self-employment tax on it.
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