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I remember there was somehting like a minimum yearly income required to file a tax form
After what earnings i have to file?

2007-03-29 12:28:37 · 3 answers · asked by Birsen O 2 in Business & Finance Taxes United States

3 answers

Well, yes you do, that would be considered self-employment income and the limit to have to file is $400.

2007-03-29 13:08:46 · answer #1 · answered by Judy 7 · 1 0

That depends. It's one level if you are single, another if you are single and over 65 or legally blind, another if you are single and over 65 and legally blind, a different one if you are head of household, another if you are married filing jointly, etc. That's as far as "normal" tax goes. In your situation, believe it or not, you might be required to file a tax return, only because of self-employment income. If you run your own business, and have a profit for the business of more than $400, you are legally required to file a tax return to at least pay self-employment tax (SE tax). But chances are that if all you make is $500 per year nobody from the IRS is coming to come running after you if you don't file a return. But if you received a 1099-Misc from someone, then you would need to file, as if you get a 1099-Misc from someone, then the IRS also gets the same 1099-Misc and would be expecting a return from you.

2007-03-29 15:35:34 · answer #2 · answered by Anonymous · 0 0

YES,BUY IT IS UNDER $12000.SO YOU GET BACK.

2007-04-01 07:23:27 · answer #3 · answered by Marcel SJ Rossignol 2 · 0 0

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