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I get paid in cash for babysitting for my Aunt
Babysitting income is usually self employment income. The income and expenses must be reported on Schedule C of IRS Form 1040. The IRS requires you to file if you had at least $400 in earnings from self-employment.
To enter your babysitting income into TurboTax follow these instructions:
If you're caring for a relative, and you don't have a profit motive; rather you're doing it to help the relative, you wouldn't be subject to self-employment tax. However, you would need to report the payments as taxable income on Form 1040, Line 21. While in TurboTax follow these steps:
@Tosha Kay - How old were you on 12-31-19? Did you baby sit in your aunt's home or yours? Are you your aunt's dependent?
I baby sat for income and did odd jobs
The IRS considers undocumented cash income (no W-2 or 1099-MISC), for work performed, to be self employment income. Enter at "Business Income & Expenses" and TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & medicare tax) on any profits greater than $400.
You report the income from your own records.
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