Didn't file taxes last year, but am preparing for this year

Hello, I am new to the forum, though I have lurked. I'm inquiring here now because I know now I need to file taxes for 2015, because all income needs to be reported. I made the mistake of not reporting the income I made in 2014 as a college student. (I also didn't file taxes for my part time job on campus, so never received a tax return either).

2014 was my first year shopping and I made less than $100 throughout the entire year. I didn't know at the time I needed to file a Schedule C or EZ.

I want to do things right this time around. I haven't been keeping my own log of shops, but I am right now going through all the MSC sites I'm signed up with and cross checking them with my payments to fill out a detailed log of shops with the fees received.

Will this method suffice for filling out my taxes? I understand I do not necessarily need a 1099, and probably won't get one as I don't think I made more than $500 with an MSC. Also, is there anything I should know since I did not report the income from 2014?

I feel bad for having made this mistake, and as said before, I want to do it all correctly this year and from here on out.

Create an Account or Log In

Membership is free. Simply choose your username, type in your email address, and choose a password. You immediately get full access to the forum.

Already a member? Log In.

Chances are that your part time work on campus did withholding and sent you a W-2, so chances are that you overpaid taxes for 2014 because you didn't file a return to reclaim the withholding. The world will not come to an end even if there is question about 2014 because with part time employment it is unlikely you owed additional taxes. Moving right along . . .

It sounds to me as though what you are doing is what needs to be done. A contemporaneous shop log with mileage, fees, reimbursements and payments is pretty standard as basic documentation for shoppers. Receipts and/or pdfs of them are backup documentation.
Yes, the school did send me a W-2 and I just didn't do anything with it! Well that is a relief. I've been thinking about this a lot lately since this will be my first time with the Schedule C.

Thank you Flash!

Edited 1 time(s). Last edit at 02/17/2016 10:15PM by hobbyshopper.
Sorry, only registered users may post in this forum.

Click here to login