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Old 01-19-2011, 08:35 PM
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TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,057
Default Income

Nope. You must report $1 as income on Schedule C. Any income must be reported. If your profit is less than $400 you don't owe any social security tax on it, but it must be reported.
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