I am a cammodel and didn't know about filing taxes and I'm claimed dependent on my parents taxes, is there a way they wont find out I worked as a cammodel from my taxes?

[suzaa23]

I know I am silly and should have read the consequences but, I became a cam girl now I am worried my parents will know I am a cam girl after seeing my taxes (if they do). Is there a way that they won't be able to see it because I really can't have them finding out I have been camming and I am scared. I cashed out about 108 dollars from the cam site I work on.

[SweetieJean]

Please remove the site name from your post.

[TaxGuyBill]

You said you "cashed out about 108 dollars".  Did you have more that you COULD have 'cashed out'?  If so, you probably need to count that as income.

If you are required to file a tax return because your income is over the Standard Deduction (usually $6300, unless you also have "unearned" income), there ARE some circumstances when your parents could need to know how much you make (but they don't necessarily need to see the tax return itself).  For example, if someone in your family did not have health insurance, or had health insurance through the Healthcare Marketplace, your parents would need know how much total income you had.

[Hal_Al]

If that is your only income, you do not need to file a return at all, since the amount is under $400*.

If you do need to file, there is no reason they need to see or even know about your return. You file a separate return for your income. Your income does not go on their return. 

There is a rule that says IF somebody else can claim you as a dependent, you are not allowed to claim your own exemption. If you have  sufficient income (usually more than $6300),  you can & should still file taxes, you just don’t get your own $4000 exemption (deduction). In TurboTax, you indicate that somebody else can claim you as a dependent.

*A dependent  must file a tax return for 2016 if he had any of the following:

1.         Total income (wages, salaries, taxable scholarship etc.) of more than $6,300 (2016).

2.         Unearned income (interest, dividends, capital gains) of more than $1050 (2016).

3.         Unearned income over $350 and gross income of more than $1050

4.         Household employee income (e.g. baby sitting, lawn mowing) over $2000 ($6300 if under age 18)

5.         Other self employment income over $400, including box 7 of a 1099-MISC

 Even if he had less, he is allowed to file if he needs to get back income tax withholding. He cannot get back social security or Medicare tax withholding.

 He doesn’t get his own $4050 exemption (deduction), when he files. In TurboTax, he indicates that somebody else can claim him as a dependent, at the personal information section.

You will have use a separate TT account from your parents and have a separate e-mail account. You should be able to do this for free. See https://turbotax.intuit.com/taxfreedom

[Hal_Al]

There is one rare situation where, for tax purposes, your parents would need to know about your income. That is if they have a custodial account (UTMA or UGMA) set up for you. The income from that kind of account can  sometimes  be reported on the parent's return. If they are filing that income, while you are filing the cammodel income, a conflict will occur on the IRS computers.

[suzaa23]

So does that mean I don't really need to do anything about that right? What if I have a retail job is that the only thing I will need to file and worry about then?

[Opus 17]

If you have more than $6300 income from your retail job, or if you have less but file a return to claim a refund of your withholding, then you must include ALL your income, including the cam income.

You will want to use the Tax Freedom edition, which includes the self employment schedule C at no additional cost
(unlike the normal free version which charges an upgrade for self employment). If your income is less than $31,000, you can file using the TaxFreedom edition, which includes complicated forms not normally included in the "regular" free version of Turbotax. The IRS requires it to be a separate web site. <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/taxfreedom/">https://turbotax.intuit.com/taxfreedom/</a>

[Opus 17]

A dependent always reports income earned from working on a separate return in their own name.  This does not affect the parents' ability to claim the child as a dependent unless the dependent earned so much that they paid more that half their own living expenses (for dependents who are under 19, or full time students under 24, and treated as living at home).  For dependents who are over the age limit but still supported by their parents, they can't be claimed as dependents if they earn more than $4050 for 2016.)

Your tax return is private and is not shared with your parents.

As mentioned above, you do not need to file a tax return unless your self employment income is more than $400, or your total income is more than $6300.  However, if you do file a return for any reason, you must report this income along with the rest.