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mjherr
Mar 16, 2007, 05:12 PM
I earned approximately $500.00 in 2006 in a home based business. I received a 1099 misc. income form. Do I need to do a Schedule C no matter how much I earned or is there a minimum amount before having to go through the process of preparing a Schedule C?
AtlantaTaxExpert
Mar 19, 2007, 11:23 AM
You are just over the minimum for filing Schedule C, so you MUST file it.

However, after you take the appropriate deductions, I suspect that you will have little, if any, tax liability ont this money.
mjherr
Mar 21, 2007, 02:13 PM
thanks for your help!
AtlantaTaxExpert
Mar 23, 2007, 10:46 AM
Glad to help!