child income

Forum|Forum|5 years ago
February 7, 2021
2 replies
12 views

My child is age 17 and received a 1099-MISC for 2020. It has $808.88 in box 3. This was from a 4H project. She had expenses of $629. Does she need to file a tax return. This is her only income.

macuser_22

Alumni - Champ

No since her total unearned income for the year is less than the $1,100 filing requirement.

EDITED: If this was for the sale of a project animal then is is earned income an the filing requirement is more then $12,400.

Also note that in the future he has a higher income that does require filing then the taxable income from a 4-H or FFA project can be reduced by expenses, cost of animal, feed, shoe]w supplies, etc.

See IRS Pub 225

https://www.irs.gov/pub/irs-pdf/p225.pdf

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

macuser_22

Alumni - Champ

@0512 above answer edited to add information.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**