Is there an amount where if you make less then that you don't have to file?

Question

I made less then 4k in 2006.

Im a full time student living at home with my parents.

3077.00 of that was self-employment income. (1099 Misc)

the rest came from a job that sent me a W2

I read that there was a cutoff.

So If I made more then 400 on the self employment I have to file

Answer 1

For Self-Employment income, the cutoff is $400.00 per year. If your only income is from wages subject to withholding then the limit would be $5,350 for 2007 for someone who can be claimed as a dependent by another taxpayer.

If you make $400 or more from Self-Employment in any tax year you must file a tax return.

Answer 2

Yes, there is an amount where, if you make less that that, you don't have to file. But for self-employment income it's $399, and you are far above that.

If all of your income had been from a job as an employee, then the limit for 2006 would be $5150.

But if you didn't file, you need to do so asap to keep late-filing penalties from getting higher than they already are. You'll owe around $435 in self-employment tax, plus whatever interest and penalties have already accumulated.