I am totally lost on how to deal with the 1099K from Etsy. As a minor, my child had to list me as the "owner" of her Etsy shop (which I understand). Last year she sold almost $2K in items that she makes. We (she) received a 1099K for this, but it is listed under my name and SSN.
So I have seen suggestions to report this as a hobby, or as self-employment, or even as a business. She does all of the work, she pays for material from her sales etc. We just are the "listed" owner of the shop due to her age.
Of course at my tax bracket I'm getting slammed on the taxes, but I don't know if my child could file their own taxes when the 1099-K is linked to my name/SSN.
Thanks for any help with this!
