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Do I have to file federal taxes if I earned less than $5,000?

I am self employed as well. Let me know please? Thanks!

10 Answers

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  • 4 years ago

    Self employed you have to file for income over $400, because you will owe some self employment tax.

  • 4 years ago

    Yes if you are self employed you have to file a tax return because they are going to charge you for self employment taxes, on what ever amount you make !

  • 4 years ago

    Yes, you are required to file. The filing requirement for self-employed individuals is only $400 for the entire year. If your net profit is $5,000, you will owe about $706 in self-employment tax but no income tax.

  • tro
    Lv 7
    4 years ago

    oh yea, you owe $707 in self employment tax

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  • ?
    Lv 6
    4 years ago

    If self employed, you have to file income over $400.

  • 4 years ago

    You must file Schedule SE if you have $400 or more in self-employment income.

  • 4 years ago

    Self employed you have to file for income over $400, because you will owe some self employment tax.

  • Judy
    Lv 7
    4 years ago

    Yes. For self-employed income, the limit if $400 for the year - that's when self-employment tax, for ss and medicare, kicks in. You won't owe income tax though, just se tax.

  • 4 years ago

    Yes. Anyone who earns $400 or more in self-employment has to file federal taxes.

  • 4 years ago

    Self employment earnings of $400 or more have to be reported.

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