Taxes for teens

[Anonymous]

My ds is not 18 yet but will be in June. He has been working as a bus boy this past year. My understanding was that teens do NOT need to file taxes if under 18 and under a certain amount of income (his does not come close) but I have seen otherwise on here which surprised me. What are you doing with your teens?

[Anonymous]

Curious to hear more on this topic as well.

[Anonymous]

Did he receive a w-2 for 2024?

[Anonymous]

They can file to get withholdings back depending on what they took as w/h in the first place but generally we haven't had our kids file a tax return. It wasn't worth it.

They don't need to file unless they've earned over $14,600.https://www.irs.gov/individuals/check-if-you-need-to-file-a-tax-return

[Anonymous]

If he was paid from a W-2, then no although he might get a refund.
The confusion comes when teens are paid via 1099. In a case like that, they need to file for any income over $400 and pay social security-type taxes (15%).
My DS is a tutor paid on a 1099. He owes money so we had our accountant do his taxes at the same time they did ours. (overkill, but I don't like doing taxes myself).

[Anonymous]

Anonymous wrote:If he was paid from a W-2, then no although he might get a refund.
The confusion comes when teens are paid via 1099. In a case like that, they need to file for any income over $400 and pay social security-type taxes (15%).
My DS is a tutor paid on a 1099. He owes money so we had our accountant do his taxes at the same time they did ours. (overkill, but I don't like doing taxes myself).

Yes, he got a W2.

[Anonymous]

Anonymous wrote:Did he receive a w-2 for 2024?

Yes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If he was paid from a W-2, then no although he might get a refund.
The confusion comes when teens are paid via 1099. In a case like that, they need to file for any income over $400 and pay social security-type taxes (15%).
My DS is a tutor paid on a 1099. He owes money so we had our accountant do his taxes at the same time they did ours. (overkill, but I don't like doing taxes myself).

Yes, he got a W2.

He only needs to file if they withheld taxes and he wants that money back. Just did it last night using free tax filing because DD's employer withheld about $200, which was all refunded.

[Anonymous]

The rules are on page A-4 here https://www.irs.gov/pub/irs-access/p4012_accessible.pdf

If you are claiming your child as a dependent, he is not married or blind, and his only income was paid on a W-2, he is only required to file if his 2024 income exceeds $14,600. BUT if he had federal or state income taxes withheld from his pay, he can file to see if any of it can be refunded.

[Anonymous]

Anonymous wrote:The rules are on page A-4 here https://www.irs.gov/pub/irs-access/p4012_accessible.pdf

If you are claiming your child as a dependent, he is not married or blind, and his only income was paid on a W-2, he is only required to file if his 2024 income exceeds $14,600. BUT if he had federal or state income taxes withheld from his pay, he can file to see if any of it can be refunded.

This is what I thought but a post yesterday made me doubt. Ty.

[Anonymous]

No tax on teens should be the next thing

[Anonymous]

Anonymous wrote:No tax on teens should be the next thing

Then anyone who's self-employed would "hire" their teens. The Duggars did this--they "paid" their kids to keep their own taxes low, but never actually gave them the money.

[Anonymous]

Anonymous wrote:My ds is not 18 yet but will be in June. He has been working as a bus boy this past year. My understanding was that teens do NOT need to file taxes if under 18 and under a certain amount of income (his does not come close) but I have seen otherwise on here which surprised me. What are you doing with your teens?

Think 14K earned income (including dividends) is the current tax limit.

Rumors are they might raise that to 50K, 100K or even 150K! Let's hope so.