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Returning Member
posted Jan 1, 2024 7:06:39 PM

YouTube earnings for a Child

YouTube requires the AdSense account to be under the name and social of someone 18+.  Therefore, the income that my son earns is reported on a 1099-MISC under my name and social.  On the 1099-MISC, it is reported as "Royalty Income".  Last year, we included it on our taxes, but I'm hoping to find a way to transfer it to him and have him file his own return with the income.  When I input the 1099-MISC income into TurboTax, the only question it asks is whether the royalty income is from a natural interest or from being self-employed. 

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1 Replies
Level 15
Jan 2, 2024 5:39:52 AM

An option is to put the income on a Sch E then enter the same amount as an expense for casual labor to push the income to the child's return.  You will need to issue the child a 1099 to report on their tax return.