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markbyrnes2002
New Member

Do we report 1099-misc income under $5000.00 if worker is under 18?

We were told that if you are under the age of 18, you do not have to pay taxes on the first $5000.00, is that correct?

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Lisa995
Level 12

Do we report 1099-misc income under $5000.00 if worker is under 18?

1099MISC is considered self employment income.  If its over $400 then there will be some self employment taxes due, yes a return needs to be filed.

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

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1 Reply
Lisa995
Level 12

Do we report 1099-misc income under $5000.00 if worker is under 18?

1099MISC is considered self employment income.  If its over $400 then there will be some self employment taxes due, yes a return needs to be filed.

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
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