I started a redbubble with the some art I do for fun.
I’m 18 and still live at home, so it’s just a hobby for me. I just made my first “sale” which was less than $2. But I’m worried I’ll end up with tax issues if things ever pick up.
Do you have to file taxes if you don’t make much money on it?
- NALv 71 year ago
Keep track of your uncome and expenses.
In the USA, you trigger a filing requirement if your net earnings are $400 or more even if this is your only income.
Oddly, redbubble, etal, only send a form if you make $600 or more. Even if you don't get a form, you include the income.
- danxp2Lv 61 year ago
In the USA, for Self employed income over 600 dollars, thr IRS requires you to file and pay at least self employment taxes on the gross income. (Gross income is basically total sales for the year)
This would Social security medicare taxes both employee and employer parts 15.3 % of the income. If you have other employment, or income sources that require you to file anyway this hobby income should to be reported as well.