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Do I Need to File a Tax Return with Just a 1099 - BookkeeperLive

The 1099 form reports your non-employee income to the IRS. Whether you need to file a tax return depends on the total amount of your income, your filing status, and other factors. It's advisable to consult with tax professionals or utilize tax preparation services to ensure accurate and compliant filing. tttt

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Do I Need to File a Tax Return with Just a 1099 - BookkeeperLive

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  1. Do I Need to File a Tax Return with Just a 1099?

  2. What is 1099 form? It's not a tax bill, but an information return that reports income you received from someone who isn't your employer (think freelance gigs, side hustles, or rental income). There are different types of 1099s.

  3. Common for individuals 1099-NEC: Non-employee compensation for independent contractors and freelancers. 1099-MISC: Miscellaneous income, including rent payments, royalties, and awards.

  4. You need to file taxes if Your income is above $12,950 (for singles under 65). You earn $400 or more from self-employment. You want tax credits or deductions. You got advance child tax credit payments to reconcile.

  5. Tips Consult with the professionals at BookkeeperLive at support@bookkeeperlive.com

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