Did you ever figure out how to file the 1099 MISC for your child's YouTube royalties? I am facing the same issue now. I saw a video saying that I had to order a 1099 MISC form from the IRS and had to file it by Jan 31 (It's already Jan 29 so that is not going to happen on time). They said in the video that you need to file the 1099 MISC to your child for the income earned under your name as a Parent Nominee (as if you are paying it out to them) and then you need to file a return under your childs name for income they earned as self employment (royalities). My son's earnings were approx $350 or so and then he turned 18 that year and switched his AdSense account over to his own name. I wouldn't mind just paying the taxes on the $350 myself since I read the penalty for filing the 1099 MISC late can be $60+ and then I would have him just file a return for the money earned under his name. Any additional info? I wish I had known this earlier! Step 4 does not allow me to proceed when trying to enter the 1099 MISC in Turbotax.
