{"id":20335,"date":"2017-06-14T12:00:00","date_gmt":"2017-06-14T12:00:00","guid":{"rendered":"https:\/\/www.hrblock.com\/tax-center\/"},"modified":"2021-07-08T14:04:21","modified_gmt":"2021-07-08T19:04:21","slug":"reporting-self-employment-income","status":"publish","type":"post","link":"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/reporting-self-employment-income\/","title":{"rendered":"I have a question about reporting self-employment income. How much self-employment income do I need to earn before havin"},"content":{"rendered":"<p>Regarding reporting self-employment income, you usually must make estimated tax payments if both of these apply:<\/p>\n<ul>\n<li>You expect to owe tax of $1,000 or more when reporting self-employment income on your return.<\/li>\n<li>You expect your withholding and credits to be less than the smaller of:\n<ul>\n<li>90% of the tax you paid on last year&#8217;s return (110% of the tax you paid if your adjusted gross income (AGI) for last year was $150,000 or more &#8212; or $75,000 if you&#8217;re married filing separately)<\/li>\n<li>90% of the tax you estimate on your current year return (66 2\/3% for farmers and fishermen)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>Estimated tax is the method you use to pay tax on income not subject to withholding, including:<\/p>\n<ul>\n<li>Self-employment income<\/li>\n<li>Interest<\/li>\n<li>Dividends<\/li>\n<li>Alimony<\/li>\n<li>Rent<\/li>\n<li>Gains from asset sales<\/li>\n<li>Prizes and awards<\/li>\n<\/ul>\n<p>You also might have to pay estimated tax if the amount of income isn&#8217;t enough that you&#8217;re withholding from your:<\/p>\n<ul>\n<li>Salary<\/li>\n<li>Pension<\/li>\n<li>Other income<\/li>\n<\/ul>\n<p>Estimated tax is used to pay both income tax and self-employment tax, as well as other taxes and amounts on your return. If you don&#8217;t pay enough by the due date of each payment period, you might be charged a penalty. This applies even if you&#8217;re due a refund.<\/p>\n<p>Your self-employment income minus expenses might be $400 or more. If so, you&#8217;re required to file Schedule SE to calculate self-employment taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Regarding reporting self-employment income, you usually must make estimated tax payments if both of these apply: You expect to owe tax of $1,000 or more when reporting self-employment income on your return. You expect your withholding and credits to be less than the smaller of: 90% of the tax you paid on last year&#8217;s return [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[24,50],"tags":[],"class_list":["post-20335","post","type-post","status-publish","format-standard","hentry","category-income","category-other-income"],"acf":[],"yoast_head":"<title>Reporting Self Employment Income | H&amp;R Block<\/title>\n<meta name=\"description\" content=\"Learn more about reporting self-employment income with advice from the tax experts at H&amp;R Block.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/reporting-self-employment-income\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"I have a question about reporting self-employment income. 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