I'm planning on paying my kids to do some freelance work. It will probably amount to $1-2k each. My understanding is that they will need to file taxes for any amount over $600 for freelance work. The plan would be to invest in ROTH IRA accounts. I suppose they would have to report it as 1099 MISC income. Is this correct? If so, what's the best software for filing taxes for 1099 MISC income. I'm looking for cheap and easy.
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Statistics: Posted by BAM! — Mon Jul 22, 2024 2:47 am — Replies 1 — Views 170
