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October 27, 2021
Question

Loss of Self employment work due to the pandemic

  • October 27, 2021
  • 1 reply
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Almost all of my self employed income comes from art and theatre based work and all that shut down during the pandemic. Do I still have to file Self employment taxes and a Schedule C even if most of my numbers (income and expenses) will be 0 for this last year? 

    1 reply

    rjs
    October 27, 2021

    If your net self-employment income is $400 or more you are required to report it on Schedule C. If it's more than $432 there will be some self-employment tax.