I worked at a regular job from Jan.-May of this year, and earned roughly $4,500 from that job. Starting in April I also started generating income from the web.. ebay, affiliate programs, etc. I have averaged $500/month since June.. leaving me with (so far) $6,500; With a projected income of about $9k-$10k for this year.
When I filed my return last year, I made 15k (before taxes) and got a refund of around 6k (for my EIC).. so I know I won’t be expecting close to that amount this year because I didn’t make as much money, but.. will my self-employed earnings count towards my EIC payout as income? Or will they only count the earnings I made at my regular job?
If I continue to be self-employed and it is my only income for the next year, will I still be eligible for EIC next year?
From what I understand I will file schedule SE with my 1040? Anyone with any advice, I’d greatly appreciate it. This will be my first time ever having to file taxes like this.