A dependent child who has earned more than $14,600 of earned income (tax year 2024) typically needs to file a personal income tax form. Earned income includes wages, tips, salaries, and payment from self-employment.
A dependent child who receives more than $1,300 in investment income in 2024 is required to file a tax return. Investment income includes interest and dividend payments.
Other factors to consider about future tax return filing requirements: wanting to claim federal and state withholding refunds from earned income; self-employment will require payment of SE tax; financial assistance for school will require possibly filing of 1098-T and 1099-Q forms by the dependent and/or parents, etc.
For more information, please read TurboTax Help article:; Tax Filing Requirements for Children
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