i work full time making around 50,000 a year. i found this part time job that i only made about 400 they didnt take taxes out from the 400. since it is so little will i have to claim that money when i file for taxes?
2007-11-20 00:50:17 · 5 answers · asked by Mustng0021 5 in Business & Finance ➔ Taxes ➔ United States
The employer will report it; you have to.
2007-11-20 00:52:23 · answer #1 · answered by wizjp 7 · 0⤊ 0⤋
Yes.
The $50,000 already puts you over the filing requirement. Any additional income must be reported.
For example: I helped a friend clean out an old house before it could be demolished. I was paid $180.00. If you look at my return for 2005, you will see the $180.00.
2007-11-20 08:58:03 · answer #2 · answered by Wayne Z 7 · 1⤊ 0⤋
Yes, you have to declare the income. If the "employer" was paying you as a subcontractor, then becasue it is under $600, they wont have to issue you a 1099, but that doesn't mean it isn't taxable.
2007-11-20 09:00:10 · answer #3 · answered by nealeinmi 3 · 2⤊ 0⤋
All income is taxable no matter the source (worldwide).
2007-11-22 09:21:58 · answer #4 · answered by Gary 5 · 0⤊ 0⤋
Yes you have to claim it.
2007-11-20 09:58:06 · answer #5 · answered by Judy 7 · 0⤊ 1⤋