Anonymous
04/04/2024 12:25
Subject: does teen son need to file a tax return?
Anonymous wrote:Anonymous wrote:https://turbotax.intuit.com/tax-tips/family/rules-for-claiming-a-dependent-on-your-tax-return/L8LODbx94
He's a dependent.
He would have been, yes, but his employer 1090'd him. That categorizes him as self-employed/freelance/contractor. Those who work for DoorDash and the like get 1099s. They also have no taxes withheld, so the IRS will want their money, despite how meager it may be.
And the threshold for having to file is much lower at $400 for 1099 income vs the allowed W2 income.
Anonymous
04/04/2024 12:22
Subject: does teen son need to file a tax return?
Anonymous wrote:https://turbotax.intuit.com/tax-tips/family/rules-for-claiming-a-dependent-on-your-tax-return/L8LODbx94
He's a dependent.
He would have been, yes, but his employer 1090'd him. That categorizes him as self-employed/freelance/contractor. Those who work for DoorDash and the like get 1099s. They also have no taxes withheld, so the IRS will want their money, despite how meager it may be.
Anonymous
04/04/2024 12:07
Subject: does teen son need to file a tax return?
if his income weren't self-employment, $1500 would be low enough that he wouldn't have to file. But the filing threshold for self-employment is $400, see the IRS 4012 publication page A-5, chart C, #3.
Also, if he should have been an employee and the employer misclassified him, your son can report that to the Department of Labor https://www.usa.gov/job-misclassification and submit the SS-8 form to the IRS. These might not help him, but it could improve things for people in his situation in the future.
Also, if he should have been an employee and the employer misclassified him, your son can report that to the Department of Labor https://www.usa.gov/job-misclassification and submit the SS-8 form to the IRS. These might not help him, but it could improve things for people in his situation in the future.
Anonymous
04/04/2024 12:01
Subject: Re:does teen son need to file a tax return?
And if you have $1500 to spare, have him open a ROTH IRA at Fidelity. Com and start his retirement fund with any amount up to $1500. You can still do this for his 2023 earnings up until April 15, 2024.
Anonymous
04/04/2024 11:58
Subject: does teen son need to file a tax return?
Anonymous
04/04/2024 11:40
Subject: does teen son need to file a tax return?
My son turned 18 in last December 2023. he had a part time job in 2023 where he made around $1500. The employer didn't send him a w-2 and it turns out they actually go the 1099 route. but they said that if we claim our son as a dependent (we do) then he doesn't need to file. I know google is my friend and I'm working on that, but hoped someone on here could offer some insight or point me to a link that explains the responsibility for teen students who have summer jobs, when it comes to filing taxes. Thank you.