How does income from freelance writing have to be reported?

Question

I've done some freelance writing using scriptlance.com, I have made some money but still under a $100, but I'm looking to write some more and make a more substantial extra income.

I am still filed as a dependent on my parents' income taxes, and I'm just trying to make some extra income in college.

How does this extra income have to be reported to the IRS?

Answer 1

Even though you are still being claimed on your parents income tax return, you can file your own income tax return just do not claim yourself. Ask a tax professional what the income limits are for a dependent child who is still in school but making his own money. If you start to make substantial money they will not be able to claim you.  

Answer 2

If it's your ONLY income for the year, no you do not need to report it; once you hit $400 you must report it though.

If you already have taxable income then you must report all of it from the first dollar.

Answer 3

If your total income for the year is under $400, and you don't have some other income that you file a return for, you don't have to report it.  If you go over $400, you'll file a form 1040, a schedule C-EZ, and a schedule SE.

Answer 4

Schedule C-Ez.