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harlybuddy
Apr 5, 2008, 07:38 PM
My only earned income is being reported on a 1099 Misc under item 7 Non Employee Compensation. I am not self employed I made under the required amount of $8750.00 that states you need to make at least that to file. This was my first job after graduating from HS. No one else can claim me DO I HAVE TO FILE.

MukatA
Apr 5, 2008, 08:12 PM
You MUST file your tax return. Even if you don't consider yourself "self employed" the IRS considers you self employed and you MUST file Schedule C (Form 1040).

The income you received as 1099-Misc is yourself earned income, which is not earned as a regular employee. Your net income from schedule C is also subject to SE tax at 15.3%.

How you will treat the 1099-Misc income, read: Your U.S. Tax Return: W2 or 1099: Employee or Independent Contractor. (http://taxipay.blogspot.com/2008/03/w2-or-1099-employee-or-independent.html)