I have a Patreon account but I'm 14 years old - how would my taxes work?

This is a great question! When you're a minor earning income through platforms like Patreon, the tax situation works a bit differently than for adults. Since you're 14 and your parents likely claim you as a dependent, you may still need to file your own tax return depending on your total income. For 2025 filing (for 2024 income), if your self-employment net earnings are $400 or more, you'll need to file your own return to report this income. This is because you'll owe self-employment tax (Social Security and Medicare taxes). Even though you file your own return, your parents will still claim you as a dependent on their return. The "kiddie tax" typically applies to unearned income (like investments), not earned income from your creative work, so that's less of a concern for your Patreon earnings. For Patreon specifically, they'll send you a 1099-K if you receive more than $600 in a year (current threshold), but you're required to report all income regardless of whether you receive a tax form.

Just wanted to share my experience! My nephew was in a similar situation with his gaming channel and we were totally confused about the tax stuff until I found https://taxr.ai - it basically explained exactly what he needed to do with his content creator income. They analyzed his situation and clarified that he needed to file a Schedule C for self-employment even though he was 15, but his parents could still claim him as a dependent. The site actually walked through the specific deductions he could take for his equipment and explained how estimated quarterly taxes work when you're a minor entrepreneur.

Just wanted to update everyone! I checked out https://taxr.ai after seeing the recommendation here and it was exactly what we needed for my daughter's situation. The site spelled out that she needs to file her own Schedule C since she's making over $400, but explained we can still claim her as a dependent. The best part was that it clarified what's deductible for her jewelry business - her workspace in her bedroom, supplies, packaging materials, even part of our internet bill. It also explained that she doesn't need to worry about quarterly estimated taxes until her tax liability reaches a certain threshold. Way easier than the confusing IRS publications we were trying to decipher!

Hey there! So I've been in your exact situation but with the IRS breathing down our necks because we didn't handle the taxes right at first. After multiple failed attempts to get anyone on the phone at the IRS (waited HOURS), I found https://claimyr.com and their service literally saved us from a huge headache. They got me connected to an actual IRS agent in about 20 minutes who explained exactly how to handle my son's YouTube income. Apparently there are special rules when a dependent has self-employment income! You can see how it works in this video: https://youtu.be/_kiP6q8DX5c but basically they just get you past the hold times and connect you directly with an IRS rep who can answer your specific questions.

I owe everyone an apology and an update. After being totally skeptical about Claimyr, I decided to try it anyway because I was desperate to talk to someone at the IRS about my kid's content creation income. I was honestly shocked when they called me back in about 45 minutes (way faster than the 2+ hours I spent trying myself). Got connected to an IRS agent who specifically handles self-employment questions. The agent explained that my daughter needs to file her own Schedule SE for self-employment tax even though she's a minor, but we still claim her as a dependent. Also learned she can deduct legitimate business expenses on Schedule C which will reduce her taxable income. Sorry for being a jerk before. Sometimes skepticism gets the better of me, but this actually worked.

Keep in mind that if your parents set up your Patreon account (since you're a minor), the income might technically be considered theirs from a legal standpoint. My sister ran into this issue with her son's Twitch stream. One workaround is having your parents set up a custodial account for your business activities. This keeps everything legal while also teaching you about business management. Might be worth discussing with your parents!

Don't forget about business licenses and permits! Depending on your state/city, you might need a business license even as a minor. My kid got hit with a fine because we didn't realize he needed a business license for his online store. Also, some cities have "teen business" programs with special permits for underage entrepreneurs.

One more thing to consider - if you're earning that much at 14, you might want to look into opening a Roth IRA! You can contribute earned income (like your Patreon money) up to the annual limit or the total amount you earned, whichever is less. Starting retirement savings at your age would be AMAZING for long-term growth. Your parents would need to help set this up as a custodial account, but it's a fantastic way to start building wealth while getting tax advantages. Plus, you can actually withdraw your contributions (not the earnings) penalty-free if you need them for something like college.