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i know the laws on filing my taxes with my child under age 24.
i need to know if he HAS TO FILE A W2 IF IT IS UNDER 3,000.00, HE HAS ANOTHER W2 FOR OVER 14,000.00 THAT HE WILL BE CLAIMING AND A 1099-MISC FOR 810.00.. SO DO I FILE THEM ALL????
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Because his income is above the threshold for filing a tax return, he must report all sources of income on one tax filing: both W-2s and the 1099-misc.
Because his income is above the threshold for filing a tax return, he must report all sources of income on one tax filing: both W-2s and the 1099-misc.
" i need to know if he HAS TO FILE A W2 IF IT IS UNDER 3,000.00, HE HAS ANOTHER W2 FOR OVER 14,000.00 THAT HE WILL BE CLAIMING AND A 1099-MISC FOR 810.00.. SO DO I FILE THEM ALL???? "
Every W-2 that he received must be reported on your tax return, even if they are for small amounts. Remember that each one of those W-2’s has his Social Security number on it, and that income was reported to the IRS by the employer. You do not want to get him in trouble with the IRS for under-reporting your income.
ALL of your W-2’s must be entered on the SAME tax return. After you enter the first one, you click Add Another W-2.
MY DEPENDENT HAD A JOB
If your dependent has a W-2 for his after-school job, summer job, etc. you do not include the information on your own return. You can still claim your child as a dependent on your own return. He/she can file his own return for a refund of some of his withheld wages (he won’t get back anything for Social Security or Medicare), but MUST indicate on it that he can be claimed as a dependent on someone else’s return. (Supervise this closely or prepare it for him!)
If your dependent’s earnings were over $400 and were reported on a 1099Misc then he must file a return and pay self-employment tax for Social Security and Medicare. You may want to use this version of TT for that:
https://turbotax.intuit.com/taxfreedom/
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