My total income is under the standard deduction since I am retired and I have not had to file taxes for years. Now with self employment with Turk it seems like I will owe the Social Security and Medicare taxes. Am I correct that I must file a 1040 and schedules SE, 1, 2, and C?
Yes Mturk is considered self employment so you would have to do SE or Schedule C. Turbotax & TaxAct is good & user friendly about guiding you through it step by step. I'm sure there are others out there as well.
Did you make more than $400 on mturk or total self employment (after subtracting any business expenses specifically for that purpose)? You won't need the SE etc. if not.
I made way more than $400 but my total income including Turk is still under the taxable income amount. A quick calculation shows no income tax but Social Security and Medicare tax must be paid. I just want to know the minimum form requirements. I can't think of any business expenses. Maybe someone knows some.
Then yep, 1040, Sch 1 & 2, C and SE. Only if you bought a new monitor or new chair for turking...that sort of thing. Needs to be 100% usage.
I avoid business expenses because I feel like that will trigger an audit. Don't want to bother with that. That's just me.
I used the free version of Turbotax for Federal and State taxes. It was simple and I filed online. Money was sent to the Fed and received from CA all online.
