Should I get a 1099 form or not?
Ok, well I'm a dependent on my parents, since I'm only 19 and going to college, but I also did a little job last year as a sub-contractor for Vector Marketing, and after 'quitting' in 3 months, only made $329.20. It's bad, I know. So do I need to report it or what? I'm told that Vector won't bother giving me a 1099, since it's usually only if you make $600 or more. But I'm not sure if i should leave out the $329.20 I did make when my dad files the taxes. Any idea on what I should do?
Asked By: quikboy - 3/19/2011
Best Answer - Chosen by Asker
Because you are a dependent being claimed on someone else's tax return and the amount is below the $600 dollar mark you need not do anything... More
Answered By: daisy2003_21 - 3/19/2011
Additional Answers (4)
Vector doesn't have to issue the 1099-Misc as it's below the $600 reporting requirement. (They could, but they don't have to.) You, on the other hand, do have a legal requirement to list 100% of your income. You list it on schedule C-EZ.
Answered By: the tax lady - 3/19/2011
It's listed on your return, not your dad's. If it was your only income for the year, you don't have to file since it was less than $400.
Answered By: Chas - 3/19/2011
You aren't likely to get a 1099. But if you file your own return for any reason (like other income for example) yes you must include the 329. If that was your only income for the year, there's no need to file.
Answered By: Judy - 3/19/2011
You must include the money on your taxes, even if you do not get a 1099.
Answered By: StephenWeinstein - 3/19/2011
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