# how much money do I have to earn yearly to need to file taxes?



## Kerplunkenstein (Sep 3, 2015)

I'm probably at $550 (I drive VERY sparingly) and was wondering what the threshold is?


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## Older Chauffeur (Oct 16, 2014)

It's a bit complicated, so you should consult a tax professional. I think the threshold amount for self employment was $400 for the 2014 tax returns. But other income and your filing status play a role as well. Are you a dependent on someone else's return? If you have grossed $550 , and kept a record of the miles you drove for ride share purposes, you would probably not owe any tax on that specific income reported on Schedule C, where you list self employment (1099) income and expenses. For 2015 the business mileage deduction is $.575 per mile. So for every one hundred miles you drove, including "dead" miles, your income for tax purposes would be reduced by $57.50.


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## UberTaxPro (Oct 3, 2014)

Kerplunkenstein said:


> I'm probably at $550 (I drive VERY sparingly) and was wondering what the threshold is?


threshold is *net *self employment income of $400. Is the $550 net or gross? Schedule C-EZ can be used if your expenses are less than $5,000


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## Sean76 (Dec 20, 2015)

Your expenses will trump any of your earnings from Uber, you should claim 1, and post a $0 earnings at the end of the year.


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## UberPissed (Aug 13, 2014)

If it is wage income, the threshold is relatively high - around 10k if you are single, and nobody claims you as a dependent. For self employed people, its $400. You may need to file regardless - you may get a 1099 reporting 20k, and your net is only $300. The IRS will send you an underreporter notice, and you will potentially have to dispute the income through a correspondence audit or tax court. 

There may be other reasons why you would file a tax return, such as preventing against identity theft, getting refundable credits (Premium Tax Credit, EITC, Child Tax Credit, Education Credits, etc), and also to get financial aid or other public benefits.


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