@hbl3973 , @imaattion, @Vanessa A
It was definitely a one off. There was a possibility that she could have pursued performing arts (not fine arts) 🙂 but she made a choice when she applied to college and is now almost done with freshman year of college and is pretty much on a pre-med track. The summer thing was an opportunity that came up and was kind of her last performances.
So if I read all of this correctly:
1. She is required to file, even though her total "unearned income" between the show and the check for attending admitted student day was $3500 and she had no other income (although I'm not really sure where to put that grant - other other income?)
2. Her 1099-NEC should be reported as other income
3. The standard deduction for other income is $1150
3a. The combination of 1-3 is going to make her file an 8615 form which will make her taxes higher
4a. On the 1098-T her box 5 is much smaller than box 1 and was a drop towards tuition only - nothing to file here for either her or us
4b. I do not qualify for AOC or LLC
5. No intention of paying more taxes for myself or for her to invest in IRAs for her when her tuition is huge and my personal 401k accounts have been doing nothing but bleeding everything I put into them and more for 15 months now. I can set money on fire in my back yard. :( I do appreciate the suggestion, but unfortunately I don't have extra money for investing right now.
Did I get everything?
