Do I claim it?

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  • CraftyMom
    Daycare.com Member
    • Jan 2014
    • 2285

    Do I claim it?

    I have a very part time job in addition to daycare. I only made $1200 for the year and federal and state taxes were not taken out. I assume because the amount is low, but I really don't know why. Do I need to claim this?
  • TheGoodLife
    Home Daycare Provider
    • Feb 2012
    • 1372

    #2
    Yes, if you make $600 or more you must claim, for sure!

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    • TomCopeland
      Business Author/Trainer
      • Jun 2010
      • 3062

      #3
      income?

      Originally posted by CraftyMom
      I have a very part time job in addition to daycare. I only made $1200 for the year and federal and state taxes were not taken out. I assume because the amount is low, but I really don't know why. Do I need to claim this?
      Any income you earn, no matter how small, must be reported as income. There is no $600 rule. The $600 rule refers to hiring an independent contractor. If you pay an independent contractor more than $600 you must file a Form 1099. However, the independent contractor must still report any income she earned, no matter how small, even if a Form 1099 is not issued.
      http://www.tomcopelandblog.com

      Comment

      • CraftyMom
        Daycare.com Member
        • Jan 2014
        • 2285

        #4
        Thank you!

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