My sister is 14 and she’s planning to do art commissions on PayPal. If she makes under $400 a year does she have to pay taxes?
She’s most likely going to make like $50 a year, but does she have to pay taxes?
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If that is the total of all her income, then she would not have to pay federal income tax or self-employment tax. In some places, she might have to pay state or local taxes.
If she also has enough other income to be required to pay taxes on any of her income, then she must pay tax on this income as well.
no
Under $400 for the entire year, no.
She can't get a PayPal account at 14. They will keep the money when she cannot age verify.
If that's her only income for the entire year she is not required to file.
Note that she cannot have a PayPal account until she turns 18.
No, she doesn’t have to may taxes since her income is so insignificant.