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Do I need schedule C for any amount?
I'm helping someone with her taxes who has been tutoring for 50 years. In the past, she's earned a few thousand and filed schedule C. In 2010 she only earned about $200. I see that schedule SE (self employment tax) isn't required for under $400 of income, but I don't see anything in the IRS instructions about minimum requirements for schedule C.
Are we required to file this schedule?
I'm sure many people in this situation don't file, but we want to be honest.
Thanks for any advice.
Bash: She has her IRA distribution and her social security, so she must file. Your response is exactly how I read it. I was hoping I missed something.
2 Answers
- 1 decade agoFavorite Answer
If it's her ONLY income for the year there's no need to file at all. If she's already required to file, every dollar of income MUST be included. The fact that she might not need to file Schedule SE this year only means that she won't be paying any self-employment tax but the income taxes are still due.
- Anonymous1 decade ago
what i would do,is do a complete search online,asking different question until you find what you are looking for,also research on the IRS web-site,or call the IRS..i find alot of answer's at IRS site, but you have to ask in different ways to find what your looking for
Source(s): IRS
