How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Megan C Your Own Question

Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 13258
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
23669918
Type Your Tax Question Here...
Megan C is online now
A new question is answered every 9 seconds

If I am self-employed, part of the time, and made only $252.00,

Resolved Question:

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.
Submitted: 1 year ago.
Category: Tax
Expert:  Megan C replied 1 year ago.

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.

Expert:  Megan C replied 1 year ago.
Our chat has ended, but you can still continue to ask me questions here until you are satisfied with your answer. Come back to this page to view our conversation and any other new information.

What happens now?

If you haven’t already done so, please rate your answer above. Or, you can reply to me using the box below.
Expert:  Megan C replied 1 year ago.
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.
Expert:  Megan C replied 1 year ago.
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 1 year ago.
You didn't answer all the questions I asked
Expert:  Megan C replied 1 year ago.
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 1 year 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?
Expert:  Megan C replied 1 year ago.
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 1 year 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.
Expert:  Megan C replied 1 year ago.
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 1 year ago.
I'm in Caifornia so does everything still apply?
Expert:  Megan C replied 1 year ago.
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, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 13258
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Megan C and 4 other Tax Specialists are ready to help you
Customer: replied 1 year ago.
Thanks for all your time and effort. It was very helpful!
: )
Expert:  Megan C replied 1 year ago.
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.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • Wallstreet Esq.

    Tax Attorney

    Satisfied Customers:

    570
    10 years experience
< Last | Next >
  • http://ww2.justanswer.com/uploads/KU/KUMI95/2013-9-30_195031_kumar.64x64.jpg Wallstreet Esq.'s Avatar

    Wallstreet Esq.

    Tax Attorney

    Satisfied Customers:

    570
    10 years experience
  • http://ww2.justanswer.com/uploads/CU/Cuttinggirl/2011-10-29_03719_wcrop2.64x64.jpg Wendy Reed's Avatar

    Wendy Reed

    Enrolled Agent

    Satisfied Customers:

    3052
    15+ years tax preparation and tax advice.
  • http://ww2.justanswer.com/uploads/CATax/2009-08-04_204548_Mark.jpg Mark D's Avatar

    Mark D

    Enrolled Agent

    Satisfied Customers:

    985
    MBA, EA, Specializing in Business and Individual Tax Returns and Issues
  • http://ww2.justanswer.com/uploads/IN/insearchoftheanswer/2013-8-16_0233_attorney.64x64.jpg Richard's Avatar

    Richard

    Tax Attorney

    Satisfied Customers:

    3229
    29 years of experience as a tax, real estate, and business attorney.
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg Megan C's Avatar

    Megan C

    Certified Public Accountant (CPA)

    Satisfied Customers:

    6121
    Licensed CPA, CFE, CMA who teaches accounting courses at Master's Level
  • http://ww2.justanswer.com/uploads/JG/jgordosea/2012-6-7_43138_GordosVeritas.64x64.jpg jgordosea's Avatar

    jgordosea

    Enrolled Agent

    Satisfied Customers:

    2783
    I've prepared all types of taxes since 1987.
  • http://ww2.justanswer.com/uploads/OZ/ozaukeecpa/2012-6-7_193219_Picture1croppedandshrunk.64x64.jpg MequonCPA's Avatar

    MequonCPA

    Certified Public Accountant (CPA)

    Satisfied Customers:

    2231
    CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.