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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16547
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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If I am self-employed, part of the time, and made only $252.00,

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If I am self-employed, part of the time, and made only $252.00, in 2013, for self-employment, do I need to pay estimated taxes, and do I need to report it. If I use Turbo Tax they charge extra, to include a 1099 form. Is it worth it, or is it cheaper to just give them back the money, for self-employment? I know it might sound nutty, but thanks for your help.

MyVirtualCPA :

Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

MyVirtualCPA :

How are you today?

MyVirtualCPA :

When you say you made $252 is that your gross or net?

MyVirtualCPA :

Meaning, is that what you were paid, or what was left over after expenses?

MyVirtualCPA :

It's better just to pay the taxes on what you earned. It would not make sense to give the money back you earned, just to avoid paying taxes on it.

I see where you were having trouble accessing our chat. If you would, please review my response. If you have further questions, please feel free to reply below. Otherwise, please rate my response as "excellent" so that I may receive credit for assisting you today.
I see that you rated our service as bad; I am penalized personally for negative ratings. Please let me know what I need to do to earn your "excellent service" rating. Thanks!
Customer: replied 3 years ago.
You didn't answer all the questions I asked
Thank you for your follow up. I had been waiting for you in our live chat session, but I noticed that we had difficulties and were not able to speak.

With only $252 of income, you will not need to pay estimated taxes, although you will have to report the earnings. You will not owe self employment taxes on this amount, as it is less than $400 - but you will owe income tax.

If your only income is the $252 self employment income, then you do not need to file a tax return. However, if you have other income you do need to file the return and you will owe income tax on the self employment earnings.

Please feel free to reply below. I will work with you, as it is my goal to earn your "excellent Service" rating.

Thanks again for using JustAnswer.com
Customer: replied 3 years ago.
Thanks for getting back to me. I have another job, that is not self-employment, and that is most of my income. The $252.00 is the total of my self-employment. I read what you said. However, will I need to file a 1099, for the $252.00 for taxes, or just a 1040?
Thank you for getting back with me. No, you will not need to file a 1099. You will only file a 1040. You never file your own 1099 - you are given a 1099 when someone else pays you.

Therefore, the only return you should be concerned with is your 1040. I hope this helps you. Please let me know if you need anything additional. If not, please rate my response as "excellent" so that I may receive credit for assisting you today.
Customer: replied 3 years ago.
But someone else did pay me $252.00, so I don't understand what you mean, about not filing a 1099. Are you saying, if someone doesn't send me a 1099, I don't send a 1099 to the IRS. I must be confusing that with the self-employment info. Since my other income was $252.00, in addition to my regular job, than how do I report additional income, of $252.00. Is there no additional form to fill out. Because I can't include it with my regular job. So how do I report that on Turbo Tax, for example? The person who paid me just wrote me a check for the additional income, but doesn't send me a form, of any kind.
Thank you again for your follow up. You would not file a 1099; the person who paid you the $252 would file the 1099. However, a 1099 is only filed for amounts over $600 so there is no other form to fill out with your tax return. Do not worry about a 1099, it's not necessary for you.

To include this as income on your tax return, place the $252 on line 21 of your tax return. This is the line that is designated for "other income."

I have to apologize, but I would not know how to enter the amount into TurboTax as I am not familiar with that software.

Please let me know if you need anything additional. If not, please rate my response as "excellent" so that I may receive credit for assisting you today. Thanks again for using JustAnswer.com
Customer: replied 3 years ago.
I'm in Caifornia so does everything still apply?
Thank you for your follow up.

Yes, the entire answer still applies in California

Please let me know if you need anything additional. If not, please rate my response "excellent" so that I may receive credit for assisting you today.
Megan C and 2 other Tax Specialists are ready to help you
Customer: replied 3 years ago.
Thanks for all your time and effort. It was very helpful!
: )
I just wanted to say thank you for the positive rating and the bonus it is much appreciated. It was a pleasure working with you tonight and if you ever need another question answered please ask for me. I hope you enjoy the rest of your night and I do thank you again.

Megan.