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Get your taxes done using TurboTax
Thank you for the reply, Mike9241!
It seems that the late hour at which I posted my question caused me to ask it poorly.
I have other self-employment income from freelance writing work and freelance audio-visual work done during 2022. My wife also has a small amount of W-2 income, so we definitely have to file taxes.
Regarding boosting income - the AGI for my wife and I is below the point that maximizes the Additional Child Tax Credit. Using the IRS formula, our income isn't high enough above the base $2,500 to maximize the $1,500 refundable portion of the Additional Child Tax Credit for our three children. Therefore, adding the money I was paid to renovate my grandmother's house as self-employment income increases our overall tax refund.
What I was really wondering was if income earned from renovating a relative's house counted as self-employment income, or if I need to report it on my return under miscellaneous income, hobby income, or something else. Thank you so much!