If my son used a cash app account that we created when he was a minor, for his barber business, but his 1099k is in my name , how do I claim this income ?

[DianeW777]

Your son should claim the income on his return.  You can nominee the 1099-K to your son using the steps below.

• How do I report income from self-employment?

Nominee returns. 

Generally, if you receive a Form 1099 for amounts that actually belong to another person or entity, you are considered a nominee recipient. You must file a Form 1099 with the IRS (the same type of Form 1099 you received).  You must also furnish a Form 1099 to each of the other owners. 

File the new Form 1099 with Form 1096 (this is a transmittal for the 1099) by mailing to the Internal Revenue Service Center for your area. (Provided on the Form 1096)

• On each new Form 1099, list yourself as the payer and the other owner, as the recipient. On Form 1096, list yourself as the nominee filer, not the original payer.  The nominee is responsible for filing the subsequent Forms 1099 to show the amount allocable to each owner.

You can go to the IRS website using the links below for the necessary forms. 

• Form 1096
• Form 1099-K