Question

If I earned less than $3500 on a 1099- misc form do i need to claim it?

Forum|Forum|6 years ago
April 17, 2020
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Employee

You've got it backwards. The minimum amount reported on a 1099-MISC that you are required to report depends on what box it is reported in, and why you were paid that amount. For example, if the amount is reported in box 3, then you are required to report it *no* *matter* *what* the amount. If the amount in box 3 is more than $400 then with *extremely* *rare* exception, the IRS considers that to be self-employment income. So you *will* pay a minimum of the 15.3% self-employment tax for the amount over $400.