Not if it's under $400. If it's over that, it depends on what type of misc income it is. If it's from self-employment, yes, you'll owe self-employment tax even if you don't owe income tax.
If you file a return, you must include ALL income.
2007-02-15 17:09:58
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answer #1
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answered by Judy 7
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Yes. Whether or not you receive a 1099, all taxable income must be claimed.
2007-02-15 11:55:52
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answer #2
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answered by Bostonian In MO 7
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If you have received a 1099 form, yes, you must claim misc. income.
2007-02-15 11:23:17
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answer #3
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answered by Starla_C 7
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Yes, even if you don't have a 1099, you are supposed to report all miscellaneous income. Depending on its source, it may or may not be taxable.
2007-02-15 11:26:39
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answer #4
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answered by Lori 2
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I am claiming the quarters I found in a pay phone.
2007-02-15 11:31:15
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answer #5
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answered by Anonymous
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I would call a tax person and give the particulars on how you got it. If it was a settlement from a lawsuit..then, you may not. Providing that settlement covered you for mental anguish. Providing you have documentation of mental anguish.
2007-02-15 11:31:13
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answer #6
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answered by histlady 1
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From what I understand, you do not have to claim income less than $2000.00, ie from a second job as a summer lawnmower/landscaper.
2007-02-15 11:28:44
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answer #7
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answered by starryeyed 6
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If you received a form yes. Otherwise anything less than $100 just ignore it.
2007-02-15 11:24:31
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answer #8
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answered by Johnny 5
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