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Cassandra, Tax Preparer
Category: Tax
Satisfied Customers: 306
Experience:  8yrs experience in taxation for individuals. CTEC Registered and an Authorized E-filer with the IRS
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I babysit in my home. How do I claim this money ...

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I babysit in my home. How do I claim this money on our income taxes? We use Turbo Tax to figure our taxes.
HelooCustomerand welcome to just answer

Line 21 which is Misc income is not for self employment income. Babysitting is self employment income. It is probable that if the IRS has not done yet that they will question your Misc. income.

Self employment income should be reported on a Schedule C. With the Schedule C, you will also be able to take deductions against your income, such as food you might buy and feed the children, toys or even gas for taking kids to the park, school, appointments and etc. Once you figure out what your income minus expenses are on your schedule C, then that would be your net self employment income. On net income you will also be required to file a Schedule SE. This schedule is to figure your Self employment taxes which is 15.3% of your net profits.

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