Do I have to report income below $300 for the last year?

Question

I know it's not taxable, but so I have to report it?
Please advise
Thanks

Forgot to mention - this is not my only income

Answer 1

You must report ALL income, you stated that this is not your only income, then you MUST include it on your tax return.

Publication 525
http://www.irs.gov/publications/p525/index.html

Answer 2

If it was your only income, you wouldn't have to report it. But since your followup says it's not, you need to add up ALL of your income - if the total is more than the limit for your filing status, then you need to file, and report ALL of it.

Answer 3

Hate to play the devil's advocate with you, but you should report it anyway because you then keep your returns up to date. I found out a couple of years ago that because I didn't keep mine up to date (low income or not) that I got questioned about it a little more than I probably should have been when I filed this year.

Besides that, if you want to file for a homestead refund, you should attach it to your state return. You are right though, you don't NEED to file unless more than $850, but why take the chance.

Answer 4

If that's ALL of the income that you received, there's nothing to report and no need to file.

Answer 5

No you do not have to report it if that was the only income you received.

Answer 6

You are not "required" to file. But there are a number of reasons why you may wish to file. You can go to IRS .gov and fill out a 1040EZ (your tax will be zero (0))and mail it in. You will have filed and it only cost you a stamp.

Answer 7

you dont have to report income under $850

Answer 8

no.