Am I suppose to file my self employed taxes even though i only made 2300 dollas
2007-02-23 16:43:48 · 4 answers · asked by Crystal H 1 in Business & Finance ➔ Taxes ➔ United States
You are required to file a tax return on self-employment income if the net income is $400 or more. So it is likely that you were required to file.
Although no income taxes may be owed, self-employment taxes are owed when the net income is $400 or more.
2007-02-23 16:53:40 · answer #1 · answered by ninasgramma 7 · 1⤊ 0⤋
Technically, yes, you should have file taxes in 2001 because of your self employment income.
Since it's been 5 years, you cannot claim any deductions for the $2300 in earnings from 2001.
Has the IRS sent you an assessment notice? Your tax liability is about $350 plus interest and penalties. If they haven't sent you an assessment notice, then they probably won't.
2007-02-24 00:25:15 · answer #2 · answered by Steve 6 · 0⤊ 0⤋
Yes, you were liable for self-employment taxes, although probably didn't owe any income taxes. You can get prior years' forms and instructions at irs.gov - go to forms and publications, then to prior years, then to 2001. Don't use this year's forms - the numbers will be wrong. You can't efile an old year, so will have to mail the forms in.
2007-02-24 12:47:38 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
i think there is some bottom margin for filing the tax go for this site and post your question. i think you will be guided. byee
2007-02-23 22:33:20 · answer #4 · answered by Anonymous · 0⤊ 0⤋