Self Employed question?

If you make more than $400 self employment, you have to file it, income and expenses, if any, on Sch-C, carried to Sch-SE, carried onto the 1040. (If you make less, then it is miscellaneous income, reported directly on 1040.)

You may want to investigate if you were actually an employee rather than an independent contractor. Many unethical employers misreport the nature of their employees to save on taxes. Read http://www.irs.gov/newsroom/article/0,,id=173423,0...

Yes, you must file. He is giving you a 1099, and he must send a copy to the IRS. If you do not file, the IRS will be looking into your work history and income for the next 7 years. Not something you really want to look forward to.

You will be responsible for paying your Soc. Sec. taxes on that $1500. You should file a schedule C, where you can deduct your expenses for running your business. If you have a profit of $400 or more, then you will have to file a schedule SE to pay the Soc. Sec. on your earnings.

You are self employed or independent contractor. You will report your income and expenses on schedule C or C-EZ (Form 1040). This income is subject to SE tax at 15.3%. Read: http://taxipay.blogspot.com/2008/04/tax-filing-by-...

You must file your tax return if income is $400 or more.

It's a 10-99 form. No.