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    mjherr's Avatar
    mjherr Posts: 2, Reputation: 1
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    #1

    Mar 16, 2007, 05:12 PM
    Claiming 1099 misc. income
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    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's Avatar
    mjherr Posts: 2, Reputation: 1
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    #3

    Mar 21, 2007, 02:13 PM
    Thanks for your help!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #4

    Mar 23, 2007, 10:46 AM
    Glad to help!
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