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Do I have to file taxes selling online?
02-22-2014, 02:01 PM
Post: #5
Bugsy Offline
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ALL worldwide income, including the value of Barter, is reportable.

If you do not have gross revenue in excess of $400, and this is your only source of income, you would not have to file.

If you have other income and are required to file, you must report this income on Schedule C. If the Net Income (after expenses) is over $400, you also have to file a Schedule SE - Self Employed Tax. This is essentially the employee and employer portions of the Social Security and Medicare (aka FICA) contributions.
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Messages In This Thread
[] - Jim S - 02-22-2014, 01:32 PM
[] - NA - 02-22-2014, 01:37 PM
[] - Judy - 02-22-2014, 01:49 PM
[] - Bugsy - 02-22-2014 02:01 PM
[] - Pascal the Gambler - 02-22-2014, 02:14 PM
[] - tro - 02-22-2014, 02:28 PM
[] - StephenWeinstein - 02-22-2014, 02:40 PM

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