My son is 18 years old. He does not have a job. The only tax form is a 1099-MISC for winning a sweepstakes in 2022. Does he need to file taxes for that one form?
My son is 18 years old. He does not have a job. The only tax form is a 1099-MISC for winning a sweepstakes in 2022. Does he need to file taxes for that one form?
That depends. If you claim your son as your Dependent, then he can file a return indicating he is 'a dependent on someone else's return.'
The Standard Deduction for a Dependent for 2022 is limited to the greater of: (1) $1,150, or (2) your earned income plus $400.
Since he has no earned income, the standard deduction of $1,150 will be subtracted from the 1099-Misc amount, and he will pay tax on the balance. If the award was less than $1,150 he is not required to file a return.