If you are receiving income for providing child care in your home then you report that income and expenses on a Schedule C for self-employment. If you have net income of $400 or more from self-employment then you will have to pay Self-Employment taxes, which are a separate tax and not included in federal income taxes.
SSI is Supplemental Security Income and is not from the Social Security Administration. It is designed to help aged, blind, and disabled people, who have little or no income; and. It provides cash to meet basic needs for food, clothing, and shelter. SSI is not reported on a tax return.
Social Security Retirement/Disability/Survivors benefits are reported on a form SSA-1099 and the benefits received are to be entered on a federal tax return. The benefits may be taxable depending on the amount of other income you have entered on your tax return.
Up to 85% of Social Security Retirement/Disability/Survivors benefits becomes taxable when all your other income plus 1/2 your social security reaches:
- Married Filing Jointly - $32,000
- Single or Head of Household - $25,000
- Married Filing Separately - 0
Standard deductions for 2023
- Single - $13,850 add $1,850 if age 65 or older
- Married Filing Separately - $13,850 add $1,500 if age 65 or older
- Married Filing Jointly - $27,700 add $1,500 for each spouse age 65 or older
- Head of Household - $20,800 add $1,850 if age 65 or older
