My 16 yr old child received a 1099 MISC with amount ($3260) in box 3...what do we do?
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Generally, a child must report their income on a tax return in their own name. What is this income for?
The income is likely unearned income requiring that it be reported on the child’s return and subject to Kiddie Tax. TurboTax will handle that for you. Be sure to check the box on the child’s return saying that someone can claim them.
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