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If I make less than $400 in self employment but my husband makes like $60,000 and we fill jointly, do I have to claim what I make even if its less than $400?


ANSWER


The BIDaWIZ Team's Answer:

Yes: you should report your self-employment income on your own

Schedule C, of your Form 1040, and your husband will report his

self-employment income on his own Schedule C. Since your self-employment

income is less  than $400, you will not incur a social security tax liability, on your

self-employment income; however, you will incur a small income tax liability on the

income. 

The BIDaWIZ Team

 

 

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