My only income is on a 1099-misc form for a home business. Am I able to claim my kids as dependent on this form?

[SweetieJean]

It's the regular income tax, plus the 15% self-employment tax.

[anthonycisneros3]

Self emplyment total tax is 30.3 then?

[SweetieJean]

No...it is 15%, plus whatever your regular tax rate is:
<a rel="nofollow" target="_blank" href="https://taxfoundation.org/2017-tax-brackets/">https://taxfoundation.org/2017-tax-brackets/</a>

[anthonycisneros3]

so for the w-2 will be 15% . for 1099 15%

[VolvoGirl]

Are you assuming you will pay 15% regular income tax on your total income?  It’s calculated separately but all adds up to one refund or tax due.  How much is your self employment income after expenses?  Is that all the income you will get for 2018?  Any interest, dividends, Unemployment, IRA Withdrawals, etc.?  If you are married does your spouse have income?

[VolvoGirl]

For the 2017 W2?  You need to file that separately on your 2017 return.  Did you file a 2017 return yet?  You need to file it NOW!

[xmasbaby0]

One day ago..."my accountant knows..."  Why hasn't the accountant explained some of this to you?  You could have a real-time actual conversation with your accountant and perhaps gain a clearer understanding than you are getting from this forum.