1. Yes, if your child made an excess contribution for 2024 then you will need request the withdrawal of excess contribution plus earnings by the due date to avoid the 6% excess contribution penalty. The earnings are taxable in the year the excess contribution was made.
2. Yes, if the self-employment net income (gross minus expenses) is less than $400 and the child has no other income then the child isn't required to file a return. Please see Do I need to file my own taxes if I'm a dependent? for details.
3. No, you do not report this on the parent's tax return
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