Yes. Since the amount is greater than $400 or more then your child is required to file a tax return. There will be self employment tax that must be paid.
- First you can use expenses that your child was required to pay to earn this income, if applicable. The net amount will then be taxed for self employment tax (social security and medicare). An estimated tax bill without expenses based on $1100 would be $155.
You could still claim your child as a dependent if this is the only income they have. You must create a new account if you use TurboTax Online or you can create a new return if you are using TurboTax CD/Download.
@gerstp
[Edited: 04/18/2022 | 8:00a PST]
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