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If you are babysitting in your own home you are getting self-employment income. If you earned even $400 then you are required to file a tax return and pay self-employment tax for Social Security and Medicare. You can also prepare a Schedule C for your business expenses----such as toys you purchased to amuse the child you cared for, food, snacks, etc. etc. etc. You say that you are a stay at home parent so if you have a dependent child to claim you may get earned income credit and the child tax credit, which are refundable credits.
https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922
https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax
https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c
https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct
You can use any version of the CD/download but if you use online TurboTax you will need to use Premium in order to prepare your Schedule C.
Or—-Use this IRS site for other ways to file for free. There are 8 free software versions available from the IRS Free File site
https://apps.irs.gov/app/freeFile/
https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit
https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant
@breannad373 If you were babysitting so that the child's parents could work, then it is likely that they will enter the childcare credit on their own tax return. They are going to need either your Social Security number or your Tax ID and will enter that and the amount you were paid. The amount you enter on your own tax return must match. If you do not want to give out your Social Security number, then get a Tax ID from the IRS.
https://www.irs.gov/individuals/international-taxpayers/taxpayer-identification-numbers-tin
Q. I was paid to babysat my nephew. Can I still get a tax refund, from the refundable tax credits?
A. Yes. Self employment income is "earned income" and qualifies for the "Additional Child Tax Credit" and the "Earned Income Credit".
The money you hear about people getting for just filing a tax return claiming kids requires them to have some earned income (wages or self employment). Without earned income, they are not eligible for the "refundable" Earned Income Credit or Additional Child Tax Credit. Both credits are calculated on the amount of earned income you have. No earned income means no "refund". A small amount of earned income means a small refund. The child tax credit does not "kick in" unless you have at least $2500 of earned income.
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