Question by  mdjames26 (533)

Is a 19 year old who received a 1099 for less than $3000 for the year required to file taxes?

My son made less than $3000.


Answer by  Chaneygirl (1755)

He may have to and may have taxes due depending on the type of 1099 issued. Was it a 1099-Misc? then yes if it was income he earned working. There would be self employment taxes due. Was it a 1099-int, 1099-div or 1099-B? then no, there wouldn't be enough income to warrant filing a return if that's all there is.


Answer by  Kurt (4579)

Your son should prepare a tax return for the year even though he made less than $ 3000. He will probably have no tax liability, but he needs to file a return so the IRS does not start to hound him about no return was filed.


Answer by  MSH (305)

You should file to protect you child from any confusion regarding his income, not only from the IRS but if there is any financial aid issues. Also there may be a future claim of unemployment


Answer by  cgroverla (516)

Yes, he is required to file a federal tax return if he received a 1099MISC for self-employment income of more than $400. The filing requirement is due to the need to collect about 15% Social Security and Medicare taxes on his net earnings. He will not pay any income tax on this amount of income.


Answer by  EarlOfSandwich (177)

If your total income from all sources is less than the standard deduction (which is 5700 for individuals in 2009) there is no need to file federal taxes. If you had any withholdings from your income, you would want to file anyway so that you can get that money refunded. Requirements for state income taxes vary from state to state.

You have 50 words left!