If I made $2200 tutoring, will I need to fiel that for tax purposes?

Question

If I made $2200 tutoring, would I need to file with the IRS or is that amount small enough where I wouldn't have to?

Answer 1

Income over $400 from self-employment must be reported, and taxes paid. This income would be self-employment unless you were tutoring for a company or a school, and had taxes taken out and get a W-2 for it. You must report it whether or not you receive a 1099-MISC for it - if you were just tutoring for individuals, you probably won't get 1099's.

Even if you don't owe any income tax on it, you'll owe self-employment tax - that's for social security and medicare.

Answer 2

If that is in addition to other income you have receive and your total income exceeds the filing requirement amount for your filing status you MUST file a return and report all income.

If this was your only income and was reported on Form W-2, you have no tax liability and only need to file a return if income tax was withheld and you wish to have that refunded to you.

If this was reported on Form 1099 as an independent contractor you'll have to file a return even if it's your only income as the filing requirement amount for self-employment income is only $400. You can deduct any reasonable and necessary business expenses on Schedule C from those earnings and that will reduce your tax liability. You must pay self-employment tax at 15.3% on the net income. File Schedule SE with your tax return to calculate the self-employment tax.

Answer 3

Yes, you must include it on your tax return.

"All" income must be included on your return. Assuming that you are over the filing limit, there is no amount too small to be left off. (Technically, as items are rounded to the nearest dollar, income of up to $0.49 can be ignored).