My 17 year old earned around 4000 last year on youtube. The AdSense account is under my name and social because you have to be 18 so the 1099 will be assigned to me. How do I transfer the income to him so he can claim it on his own return. I've seen many post saying that since its under my SSN it is my income, but in tax pub 929, tax rules for children it says,
"Child's earnings.
For federal income tax purposes, amounts a child earns by performing services are included in the gross income of the child and not the gross income of the parent. This is true even if, under state law, the parent has the right to the earnings and may actually have received them."
So there must be a way. Can anyone help?
