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What are the reporting requirements for self-employed people?

Excerpted from "Social Security Handbook". See the up-to-date, official Social Security Handbook at ssa.gov.

1416. What are the reporting requirements for self-employed people?

If you are self-employed and have net earnings of $400 or more in any taxable year, you must:

  1. Complete Form 1040 (U.S. Individual Income Tax Return) including Schedule C (Farmers use Schedule F instead of Schedule C);

  2. Complete Schedule SE (Computation of Social Security Self-Employment Tax); and

  3. Send the return and schedules to IRS with the balance of any self-employment tax that is due.

Last Revised: March, 2001


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