Does my 17 year old need to file taxes after receiving a 1099-misc

MB73 · ‎February 3, 2020

My son was self-employed and received a 1099-misc with box 7 filled out for $4320. Does he need to file taxes?

DawnC · ‎February 3, 2020

Yes. Even if you're a dependent, you'll generally need to file your own 2019 tax return if:

Your earned income (money you made by working) exceeds $12,200
Your unearned income (interest, dividends, capital gains, etc.) exceeds $1,100
Your business or self-employment net income (gross minus expenses) is at least $400
Your gross income (earned plus unearned) exceeds the larger of $1,100 or your earned income (up to $11,850) plus $350

Make sure he indicates someone else can claim him if you are still claiming him as a dependent. If that was his only income, he won't owe income tax, but he will owe Self-Employment tax for social security and medicare taxes.

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View solution in original post

DawnC · ‎February 3, 2020

Yes. Even if you're a dependent, you'll generally need to file your own 2019 tax return if:

Your earned income (money you made by working) exceeds $12,200
Your unearned income (interest, dividends, capital gains, etc.) exceeds $1,100
Your business or self-employment net income (gross minus expenses) is at least $400
Your gross income (earned plus unearned) exceeds the larger of $1,100 or your earned income (up to $11,850) plus $350

Make sure he indicates someone else can claim him if you are still claiming him as a dependent. If that was his only income, he won't owe income tax, but he will owe Self-Employment tax for social security and medicare taxes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Does my 17 year old need to file taxes after receiving a 1099-misc