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My four year old dependent got a 1099 misc tax return for $1,000. It is listed in box 3. How do I file this?
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Get your taxes done using TurboTax
On his/her own tax return if required to file. If that is the only income then a tax return is not required.
2016 Filing requirements for dependents.
Federal Dependent filing requirements: (State requirements may be different)
1) Dependents unearned income was more than $1,050.
2) Dependents earned income was more than $6,300.
3) Dependents gross income was more than the larger of-
a) $1,050, or
b) Dependents earned income (up to $5,950) plus $350.
Or Dependent had net earnings from self-employment of at least $400.
However, if any tax was withheld, then Dependent might want to file anyway to get a refund of the tax withheld.
Also, a person that CAN be a dependent cannot claim him/her self and must check the box that says that another taxpayer can claim them (whether or not that taxpayer actually claims him/her).
Note: your state filing requirements might be different than the federal.