Your son will need your Social Security Number in order to claim the childcare expenses on his return.The IRS will then expect to see your return claiming that income.
Since you didn't receive a 1099-MISC, you can report your babysitting income by following the instructions below: (Note: this is Self-Employment income subject to additional Social Security taxes on your profit after expenses.)
Please feel free to post any additional details or questions in the comment section.
Type “Schedule C” in the
Search box and then select the “Jump to” link. This will take you to where you can enter any cash, personal checks or credit card payments (Form 1099-K) related to your self-employment. You may first be asked some general questions about your business. After you answer them, you’ll be taken to the
Let's get income for (your line of work) screen where you can enter this income as
Additional Income.
As a self-employed babysitter, here are some additional expenses you can deduct:
· Communication costs, for example cell phones, data plans, internet or wireless services, land or fax lines, long-distance charges, voicemail or answering services, call waiting, etc.
· If also used for personal reasons (for example, internet service), then only the proportion used in business is allowed as an expense
· Office supplies (paper, toner, writing instruments, etc.), software, stamps, envelopes, shipping materials, cleaning supplies
· Any licenses or permits that are required for your profession
· Fees and membership dues you paid to professional associations or unions
· Continuing education or certification related to your work
· Mileage accumulated during the course of your work
· However, regularly commuting to and from a fixed office wouldn't qualify
· Advertising costs, including business cards and websites
· Fees for attorneys, consultants, accountants, and other professionals
· Liability insurance, errors and omissions insurance, surety bonds
· Credit card and bank fees
· Health care premiums
· CPR certification, first aid training
· Miscellaneous supplies such as diapers, food, toys, books
· Liability insurance
· Advertising, including websites
· Cell phones, data plans, second phone line
· Vehicle expenses or standard mileage
· Work-related education or training
· Licenses and permits, membership dues
· Fees for legal or professional services (Childcare only)
These out-of-pocket expenses will offset (reduce) your earnings, lowering the amount of income you pay taxes on.
