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re: Babysitter (Niece) received 5071c letter. Never Filed A Return
Posted on 6/17/22 at 4:31 pm to GAFF
Posted on 6/17/22 at 4:31 pm to GAFF
You better pay that girl what she has to pay to Uncle Sam, and you better pay it in cash. Side-hustles like baby sitting can be considered self employment, and the minimum reporting amount is $400, if my quick google-fu is correct.
Source
quote:
There are some exceptions to the gross income filing requirement. The most common one is self-employment. If you have any self-employment income, such as freelancing, gig work or any "side hustles," this income is usually reported on a 1099-MISC form. You may not receive a 1099-MISC form in some cases. Regardless, you need to file a tax return if your net income for the year (income after self-employment related expenses) was at least $400.
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