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Koodaddy
New Member

Filing and paying taxes for on a 1099nec for a minor

So my child was issued a 1099 nec from my scorp for 7,000 and we subsequently opened a roth for that amount for tax year 2024.

1. What forms do I use to file her taxes.

I think she falls under the amount where federal taxes are owed but im thinking she needs to foke and pay self employment  taxes? Anything else that's owed  to federal government  or any other agency?

2. Im assuming turbotax can cover this simple tax return but which version. 

Thanks in advance for any advice or feedback

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1 Reply

Filing and paying taxes for on a 1099nec for a minor

Any version of the desktop download can be used for your child's self-employment income; if you use online software you will need Premium.  She will need to pay self-employment tax for Social Security and Medicare.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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