@Campandy wrote:
Do I need to report a 1099-Misc received for my minor child for rodeo winnings less than $10,000? If so, can I report it on my tax return.
Is your child a dependent (of you or anyone else)? I will assume so.
Which box of Form 1099-MISC are the rodeo winnings in. I assume it's in box 3.
If the dependent child's rodeo winnings are more than $1,150 (for 2022) the child is required to file a tax return and report the winnings. (I don't know why you think $10,000 is a significant cutoff point.)
Does your child have any other income besides the rodeo winnings? If so, the child might have to file a tax return even if the rodeo winnings are $1,150 or less.
You cannot report your child's 1099-MISC income on your tax return. If the child is required to file, the child must file his or her own tax return.
If the rodeo winnings are more than $2,300 (for 2022) the amount over $2,300 will be taxed at the parents' rate. (The tax on a child's unearned income at the parents' rate is commonly called "kiddie tax.") Form 8615 will be included in the child's tax return to calculate the tax at the parents' rate.
