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Wayne Brasch
Wayne Brasch, Accountant and Business Consultant
Category: Tax
Satisfied Customers: 1298
Experience:  Master of Science in Taxation. Tax experience since 1963.
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how do I file income tax for a child actor

Customer Question

My child has made money for acting what special things do I need to know in order for her file federal income tax?
Submitted: 9 years ago.
Category: Tax
Expert:  Wayne Brasch replied 9 years ago.
Unless she received a Form W-2, you would take the income shown on the Form 1099-MISC and enter it on Schedule C. On that form, you would enter any expenses that were paid in order to earn that income. The form will result in a profit or loss at the bottom. If the profit is greater than $400, self-employment tax will apply. That tax is calculated on Schedule SE. Both of these would need to be attached to her Form 1040. She is considered to be self-employed under the above circumstances. If she received a Form W-2 where taxes were withheld, that amount would be placed on line 7, page i of Form 1040. If you are in a State that has a State income tax, the amounts of her earnings would be placed on that resident State return form.