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My son has earned income and unearned income
My 17 year old son made $3063 of earned income and $841.23 of unearned income. Does he need to file federal taxes? I found the below requirements , however I am confused about the 3rd bullet and if that applies to my son or not.
If a child has both earned and unearned income, that child must file a return for 2021 if:
- unearned income is over $1,100.
- earned income is over $12,550, or.
- earned and unearned income together totals more than the larger of (1) $1,100, or (2) total earned income (up to $12,200) plus $350.
‎April 15, 2022
8:52 AM