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February 20, 2022
Question

I only made $200 this year, do I have to file? It was as a freelancer, am I exempt from filing since my income was so low?

  • February 20, 2022
  • 1 reply
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I saw that it said an Illinois exemption of $2050, have been living with family rent free and have made practically no money ($200). Do I have to file?

1 reply

February 20, 2022

Yes, you do need to file the tax return. If your income is less than your standard deduction, you generally don’t need to file a return (provided you don't have a type of income that requires you to file a return for other reasons, such as self-employment income). Standard deduction for a single filer is $12,550 and since you made less then $12,550, you are in most cases not required to file a tax return.

 

However, if you freelance, do gig work, or run a small business, you'll always have to pay self-employment tax on your 1099 income, even if it's much less than the standard deduction. So in your cases, while your income is less then standard deduction, since its self employed income, you will have to file the tax return.