Depending on his total income, you may be able to include it on your tax return, or he may need to file his own. If it is more than $1250, he will need to file his own return - but you can do that for him of course. If it is less than that, you can put it on your return.
- Tax requirements for dependent children are different from those of other taxpayers.
- A dependent child who has earned more than $13,850 of earned income (tax year 2023) typically needs to file a personal income tax form. Earned income includes wages, tips, salaries, and payment from self-employment. This threshold increases to $14,600 for 2024.
- A dependent child who receives more than $1,250 in investment income in 2023 ($1,300 in 2024) is required to file a tax return. Investment income includes interest and dividend payments.
- If your child’s investment income consists only of interest and dividends, you can use IRS Form 8814 to include it on your own return and combine it with your own income. Doing this may push you into a higher tax bracket and result in higher income tax than if you prepare a separate return for your child.
Dependent's Income
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