I do understand that your son is 19 years old. That is of no consequence from a tax point of view. The amount of money and the type of money he received is of greater concern.
- All of the money you described would typically not have any taxes withheld from it. So if he did have a tax obligation, there wouldn't be anything to cover it.
- For a single taxpayer, the standard deduction is $1,100. If he exceeded this income level he will incur taxes.
- Finally, you stated that he received a 1099-MISC. This is considered self-employment and is subject to an additional 15.3%.tax.
- The rate consists of two parts: 12.4% for social security and 2.9% for Medicare.
- This tax is imposed regardless if he owes any other tax.
- However, if it is appropriate it can be avoided.
You are not self-employed, but TurboTax thinks you are because of the way you entered it on your return.
Wages & Income
Scroll to Other Common Income
Select Income from a 1099-MISC
Post your information from the form [Continue]
Describe the reason for this 1099-MISC
Post XXXX
Does one of these uncommon situations apply? = Select None of the above
Did the XXXX involve work that's like your main job? = No
How often did you get income for XXXX? = Check Got it in 2021
Did the XXXX involve an intent to earn money? = Answer No
@neef
Edited 03/14/2021
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