# must I file if I made less than $500?



## Urbanappalachian (Dec 11, 2016)

I started late last year and I think made less than $500, must I still file taxes?


----------



## Older Chauffeur (Oct 16, 2014)

Urbanappalachian said:


> I started late last year and I think made less than $500, must I still file taxes?


It depends on several things- your income and withholding from other sources, if any; your filing status; eligibility for the EIC and other credits, to name a few.

If you have a regular W2 job, and are required to file, and are asking if you need to report rideshare income, the answer is YES. All income has to be reported. But if that's all you made from rideshare, and you kept track of mileage accrued doing it, that income should have no significant impact on your tax return. The income and expenses are reported on Schedule C, Profit and Loss from business, along with Schedule SE, self employment if needed.

Disclosure: I'm not a tax professional.


----------



## Subjugator (Jun 22, 2016)

If you made over 400 gross then yes. Either way report it it helps to report the losses Cuz it transfers to owing less in w2 taxes.


----------



## Older Chauffeur (Oct 16, 2014)

Subjugator said:


> If you made over 400 gross then yes. Either way report it it helps to report the losses Cuz it transfers to owing less in w2 taxes.


Any profit must be reported and income tax paid accordingly. The $400 figure is the threshold for paying FICA on profits. It is unlikely the OP will owe FICA this year.


----------



## Subjugator (Jun 22, 2016)

Overall just file especially if you have w2 it helps to get money back from w2. It's like standard deduction plus your bussiness loss ontop of that. It's awesome.


----------

