How do I report income from a side gig or freelance work on Form 1040?

Income from side gigs, freelance work, or other self-employment activities must be reported on Schedule C (Profit or Loss from Business) of Form 1040. On Schedule C, you’ll need to report all your income from these activities, as well as any allowable business expenses. The net profit or loss from Schedule C is then transferred to your Form 1040. If your net earnings from self-employment are $400 or more, you’ll also need to pay self-employment tax, which covers your Social Security and Medicare contributions. This is calculated on Schedule SE and reported on your Form 1040. For more details, refer to IRS Publication 334 ().