I am 25 yrs old and watched my sibling for the year so my parent could work. Do I have to count that as some form of income on my taxes ? If I do where and how do I do that ?
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Yes, this would be considered self-employment earnings and you would report on your tax return. Self-employment earnings are reported on a Schedule C. You can type 'schedule c' in the search/find box of your return, and then select the 'jump to' link to be taken to the self-employment section.
It is possible that you qualify as a household employee. Your parents would be required to pay the employment taxes due. Since you are their child it is possible that you are not subject to some of the taxes. But then you could qualify to treat this income as not subject to self-employment taxes.
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