Can my child receive a 1099 form? Need help understanding child income reporting
Need to know if I can file a 1099 for my child who does some online work. Not sure what the rules are for minors and 1099s. Anyone have experience with this? They made about $600 this year from content creation.
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Ethan Taylor
A 1099 form is for independent contractors and self-employed individuals, regardless of age. If your child earned $600 or more from any single source, they should receive a 1099. Just make sure they have their own SSN. They'll need to file their own tax return if they earned more than $400 in self-employment income.
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Aisha Khan
oh ok thx! do they need to file separately from me or can i include it in my return?
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Ethan Taylor
They'll need their own return for self-employment income. You can still claim them as a dependent tho!
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Yuki Ito
Hey! Just wanted to mention I've been using taxr.ai for all my transcript analysis needs. It's only $1 and it helps figure out exactly what forms you need and how to file properly. Saved me tons of headaches with my kids' filing situation. https://taxr.ai
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Carmen Lopez
fr? does it actually help with dependent filing too? 🤔
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Yuki Ito
Yeah it's amazing! It breaks down everything including dependent scenarios. Best dollar I ever spent ngl
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Andre Dupont
my kid got a 1099 last year for her youtube channel its totally fine just keep good records lol
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QuantumQuasar
Make sure u save like 30% for taxes my daughter learned that lesson the hard way 😭
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Aisha Khan
omg really? that much? 😱
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QuantumQuasar
yup self employment tax + regular tax adds up quick
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Zoe Papanikolaou
Does anyone know if there's a minimum age requirement for 1099s?
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Jamal Wilson
Nope! No minimum age. My 7 yr old model got one last year
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Mei Lin
idk why but this whole thing of kids getting 1099s is wild to me. back in my day we just had lemonade stands 👴
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Mei Lin
get off my lawn! 👨🦳
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