Welcome to WebmasterWorld Guest from 22.214.171.124
As a self-employed person, you are required to complete Form C to report your income/expenses. If you earn more than $400 (net), you are required to complete Form SE and attach it to your Form 1040.
For more information, consult your tax advisor or www.irs.gov.
Can anyone comment on this or tell me about his/her experience? I did not make a lot of money in 2005 (About $300). I don't think that's enough for me to pay anything. But anyway I'll probably have to report this amount. Do I need forms from Google stating how much I made? OR do I simply put this amount in some item on the regular tax forms? Thank you very much for your advice.
Since you made less than $600.00, you will probably not receive a 1099-MISC. However, you're still required to report the amount you made as income, which would be considered as "nonemployee compensation".
[edited by: bobothecat at 11:47 pm (utc) on Feb. 15, 2006]
Of course if you have other income any negative figure you come up with after hosting fees, etc, can be deducted from your other income (salary) to cut down your taxes.
Happy April the 15th!