Quick Tax Question..

Discussion in 'General' started by RedGuerrUltra, Mar 13, 2014.

  1. RedGuerrUltra

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    I've scrolled through numerous Mturk tax threads and Googled my way into oblivion. I just have a few simple (I hope) questions that I can't seem to find the answers to.

    If I earned $475 on MTurk at the end of 2013 but I was otherwise an unemployed full-time college student:

    1) What tax form do I use? 1040-EZ? 1099-MISC? Schedule C-EZ?
    2) How do I calculate the tax rate I need to pay? From what I can gather it's either 12 or 15-16% for self-employed independent contractors (SS and Medicare taxes).

    If that's the case, that's pretty brutal. Woulda been better off just making $399 to stay under the $400 threshold!
     

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