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New Member
posted Jun 1, 2019 10:42:25 AM

Why does a high school student who works part time owe money to state and federal

0 3 326
3 Replies
Level 15
Jun 1, 2019 10:42:26 AM

Did they receive cash income or a 1099-MISC?  Then they owe Self-Employment tax.

Level 15
Jun 1, 2019 10:42:27 AM

Because they are claimed as a dependent on a parents return they get a reduced standard deduction.

This is the tax law for dependents earning income.

Level 15
Jun 1, 2019 10:42:29 AM

Yes, see comment above if a 1099Misc was received for over $400.