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posted Apr 24, 2025 10:13:23 PM

Income Earned as A Minor Lower than Standard Deduction

I am a minor and earned less than the standard deduction on a 1099. Why do I still owe taxes? My employer are my parents. As a minor, I should be exempt from FICA and Medicare/SS taxes, correct?

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1 Replies
Level 15
Apr 25, 2025 3:41:15 AM

Age is not a factor for payment of Social Security and Medicare Taxes.  If you are not receiving a W-2 from your employer then you are Self-Employed.  If you have a net profit from the self-employment you will owe Self-Employment taxes on the income.  You pay SE Taxes of 15.3% on your SE income, which is both the employer and employee portion of SS and Medicare taxes.

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