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Retirement tax questions
No, the IRS receives tax forms and I am assuming your child did not due to sporadic activities for income. The income can be claimed as misc income.
To enter the income follow these steps:
- Go to Federal section
- Scroll down to Less Common Income
- Select Miscellaneous Income, 1099-A, 1099-C selection
- Select Other Reportable Income, START
- Any other taxable income, select YES
- Enter description, something like odd jobs
- Enter the amount
- Click Continue
Then you can enter the IRA contributions. See Where do I enter my traditional or Roth IRA contributions?
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‎April 11, 2023
2:11 PM