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Do I need to pay taxes on a $4 job?

mwiggenhorn
Community Guru
Mary W Member Since: Nov 10, 2014
11 of 14

If you are completely freaked out about it, just report it as Miscellaneous Income and be done withit.

tlbp
Community Guru
Tonya P Member Since: Nov 26, 2015
12 of 14

Mary W wrote:

If you are completely freaked out about it, just report it as Miscellaneous Income and be done withit.


Yeah. This is the easist way. Smiley Happy 

tlbp
Community Guru
Tonya P Member Since: Nov 26, 2015
13 of 14

Wayne M wrote:

So, basically, I shouldn't worry about it. Alright. I'll try to look more into it, though.


Will you be using an app to complete your taxes or just the forms? 
Most apps will ask you if you had any self-employment income. Then, they will ask you to enter the income from X document (usually a 1099). If you don't have the document, you just enter your income. I'm not sure exactly which line you would enter it if you are doing the form by hand. But essentially, you can enter your net income (the $4), then also deduct any expenses. 
If this $4 is your only self-employment income from any source, odds are you'll come out at zero after you deduct your expenses. 

 

jr-translation
Community Guru
Jennifer R Member Since: Sep 15, 2017
14 of 14

Wayne M wrote:

So, basically, I shouldn't worry about it. Alright. I'll try to look more into it, though.


Keep on mind that the client paid $5 and you paid $1 to Upwork. So you had income and expenses.

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