Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   Tax implications of 1099 income (https://www.askmehelpdesk.com/showthread.php?t=34819)

  • Sep 21, 2006, 09:09 PM
    mrterry77
    Tax implications of 1099 income
    My son has had a paper route for the past 2 years and the income has always reported on his SSN as 1099 income. The newpaper company is changing policies and will no longer hire minors. If I put the route in my name and receive a 1099 for the income and the issue a 1099 to my son paying him the entire amount. What are the tax implications for me? i.e. - self employment tax, etc.
  • Sep 22, 2006, 04:38 PM
    AtlantaTaxExpert
    That's one way to handle it. Your son would be considered a sub-contractor.

    Nothing wrong with it at all. You will have to file a Schedule C. Since all the money goes to your son, no sel-employment tax will be due.

  • All times are GMT -7. The time now is 07:40 AM.