If you made some money from an online business in 2008, how do you claim it?

October 21, 2009 By 1 Comment

What is the minimum amount of earnings necessary to claim and how do you claim if the compay does not send you w9 forms?

If you made $400 or more for the year, you must file. You’d report your income and allowable expenses on a schedule C or C-EZ, and also fill out a schedule SE to calculate your self-employment tax (social security and medicare). The numbers from the bottom of the two schedules will transfer to your form 1040.

Filed Under: Make Money Online

Comments

  1. Judy1 says:
    October 22, 2009 at 7:03 am

    If you made $400 or more for the year, you must file. You’d report your income and allowable expenses on a schedule C or C-EZ, and also fill out a schedule SE to calculate your self-employment tax (social security and medicare). The numbers from the bottom of the two schedules will transfer to your form 1040.
    References :

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