what is the lowest imcome amount has to be claimed as income?
2007-02-27 06:05:38 · 5 answers · asked by reddiasy 1 in Business & Finance ➔ Taxes ➔ United States
If it was your ONLY income for 2006, you don't need to claim it as it's below the amount that would require a tax return. If you already have taxable income, all income must be counted.
The minimums for a single taxpayer under age 65 are:
$400 per year in Self-Employment income.
$850 in unearned income such as interest, dividends, capital gains, royalties, rents, etc.
$8,450 in wages if you are not claimed as a dependent by another taxpayer. $5,150 if you are claimed as a dependent.
2007-02-27 06:13:03 · answer #1 · answered by Bostonian In MO 7 · 2⤊ 0⤋
If that's your only income, then no you don't.
If you have over $400 in self-employment income, you have to file. For any other type of income, the limits are much higher and depend on your filing status.
2007-02-27 14:42:11 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
You only have to file your taxes if you have earned anything over 3300.00
2007-02-27 06:11:51 · answer #3 · answered by devilgal031948 4 · 0⤊ 2⤋
No, i wouldnt.
2007-02-27 06:12:39 · answer #4 · answered by Jerk 2 · 0⤊ 2⤋
no
2007-02-27 06:12:53 · answer #5 · answered by hischynadoll 3 · 0⤊ 2⤋