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Retirement tax questions
I would suggest that paying a child to make his own bed or clean his own room is very unlikely to be regarded as "earned income" in an IRS audit. "Earned income" means income from a job. Activities such as babysitting for another family, walking a neighbor's dog or giving a neighbor's child swimming lessons on the other hand likely would qualify.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
‎January 8, 2024
10:00 AM