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    azn-aussie's Avatar
    azn-aussie Posts: 1, Reputation: 1
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    #1

    Apr 12, 2008, 08:53 AM
    I've only earned 9,789. 1099MISC, do I need to file?
    Hi~ do I need to file my taxes if I only earned 9,789.00/1099MISC for the year? I sure need the tax rebate they're offering right now! I believe I can't get that if I don't file. Please advice,. thank you!
    N0help4u's Avatar
    N0help4u Posts: 19,823, Reputation: 2035
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    #2

    Apr 12, 2008, 08:59 AM
    You can't get it if you don't file. Go to an independent tax service, H&R charge too much,
    I heard the form to fill out is 1040a but don't know with your being a 1099misc.
    The tax person would know. You have to do it by Tuesday.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Apr 12, 2008, 09:08 AM
    Quote Originally Posted by azn-aussie
    Hi~ do I need to file my taxes if I only earned 9,789.00/1099MISC for the year? I sure need the tax rebate they're offering right now! I believe I can't get that if I dont file. Please advice,... thank you!
    Read this carefully to avoid interest and penalty.

    1099-Misc means income as self employed person or independent contractor. You must file tax return if yourself employed income is $400 or more.

    Yourself employed income is subject to 15.3% SE tax. Even if your income is below taxable limit you owe around $1,500 in SE tax.
    You must pay due tax before April 15, 2008 to avoid interest and penalty.

    1099-Misc income is reported on schedule C (Form 1040). You can deduct your business related expense.
    How you will treat the 1099-Misc income, read: Your U.S. Tax Return: W2 or 1099: Employee or Independent Contractor.

    You must also read this if you cannot complete your tax return before April 15, 2008:
    Your U.S. Tax Return: IRS Due Date April 15, 2008: For Those Who Can't Pay the Tax Due in Full
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