I am not sure if I need to file federal taxes.
I made a small amount of money working for McDonnalds, not enough.
The tricky part is that I bid for a very small contract, and it was then cancelled. I was paid around $750 and I agreed to settle by refunding $400 just because I didn't want to go to arbitration. He wanted the entire amount back.
Questions:
(1) Is any money I paid back subtracted from my "self employment" income?
(2) Is anything I kept now "self employment" or another type of income?
I made a small amount of money working for McDonnalds, not enough.
The tricky part is that I bid for a very small contract, and it was then cancelled. I was paid around $750 and I agreed to settle by refunding $400 just because I didn't want to go to arbitration. He wanted the entire amount back.
Questions:
(1) Is any money I paid back subtracted from my "self employment" income?
(2) Is anything I kept now "self employment" or another type of income?
Federal Taxes: Do I Need to File
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