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March 18, 2024
Question

Do I need to file taxes as an independent contractor if I made less than $1,500?

  • March 18, 2024
  • 1 reply
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I did some work on Preply.

1 reply

March 18, 2024

Yes, if you earned more than $400 as an independent contractor, you have to file and pay self-employment tax on the earnings.

 

If you have expenses that are ordinary and necessary connected to the work, you can claim those expenses and reduce your taxable income. 

 

Here's how to enter your 1099-NEC and get started on reporting your expenses:

 

 

  1. Sign in to TurboTax.
  2. Select Income & Expenses.
  3. Scroll down to Other Common Income, expand the section by selecting the down arrow to the right.
  4. Select Edit to the right of Income from Form 1099-NEC.
  5. Answer the first question Yes.
  6. Select Add a 1099-NEC.
  7. Enter the information from your 1099-NEC, select Continue.
  8. Answer the remaining questions to report your income and expense
     
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