It depends on several things- your income and withholding from other sources, if any; your filing status; eligibility for the EIC and other credits, to name a few.I started late last year and I think made less than $500, must I still file taxes?
Any profit must be reported and income tax paid accordingly. The $400 figure is the threshold for paying FICA on profits. It is unlikely the OP will owe FICA this year.If you made over 400 gross then yes. Either way report it it helps to report the losses Cuz it transfers to owing less in w2 taxes.