Deductions & credits

We do not know what "same issue" you are having.  There are no other posts in the user forum under your username Motherof05

 

We can tell you that you are required to include all of your combined income on your tax return, including the W-2 income and self-employment income.  When you have self-employment income you pay self-employment tax for Social Security and Medicare.  And you have to prepare a Schedule C for your business expenses.   You could also owe ordinary income tax for the self-employment income.

 

You mention that you have teenagers.    You lose the child tax credit for any child older than 16; if they are older than 16 by the end of 2024, you get the $500 credit for other dependents instead.  That credit is not refundable; it reduces tax you owe.

 

If you need further help, post back in the forum with some details but no personal information.

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**