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← 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
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