fin
ly
Dashboard
Learn
Curriculum
Simulator
Leaderboard
Classes
About
Login
Sign Up
← Lesson
Side Hustles — Taxes and Tracking Income
Question 1 of 7
Multiple choice
You earn $850 in cash from mowing lawns this summer. Do you need to report this income on your taxes?
No — cash income under $1,000 does not need to be reported
Yes — all self-employment income must be reported; the $400 threshold triggers self-employment tax, which $850 exceeds
Only if a single customer pays you more than $600
No — lawn mowing is considered a hobby, not a business
Check answer
