How do I file taxes if I am unemployed?

Question

If I am unemployed and make a couple thousand dollars from selling some old things around the house is there any way to report it without being a business and filing schedule c and all that crap?

Answer 1

Actually, if you're self-employed, you have to file if you make over $400, since even if you don't owe federal taxes you'd owe self-employment taxes, which take the place of social security taken out and paid by an employer.

Also, unemployment compensation is taxable if you're getting that.

But if you're selling old things from around the house, you don't have a gain unless you're selling them for more than you paid for them (unlikely) so you might still be OK.

But if you do make $400 or more OVER what you paid for the items, yes, you should be filing, and schedule C would be the form to use. It's not all that messy to do. You'd also need schedule SE, to calculate self-employment tax.

Answer 2

First of all, you have to make I think at least $7000 in income before you have to file Fed. taxes.Even if you made $10,000, the tax would be no more than 15-25 dollars at most. The Feds might not even want to be bothered with you, for such a small amount, Call your nearest IRS office and check with them.

Answer 3

You don't. If you are unemployed, you don't file taxes.

Just kidding, you must go see your tax person, they will give you a form. And, the form will depend of what you are filing, for instance, interest on savings account or work from home income, etc.

Answer 4

Ignore all the answers before Judy T's.

Answer 5

yeah you report no income. the stuff you are selling could be looked at as yard sale and who ever declares selling stuff at a yard sale.