<p>I started a small business a few years. I have made a bit of money. Much of it is invested in stocks. I didn't file any taxes/ I listed it under my EC. Will colleges need me to show them my own tax filing? Or just my parents?</p>
<p>You’ve been making money without filing taxes? That’s a problem. You should probably talk to a CPA and get some advice as to what to do about it. Don’t keep doing this - you could end up in trouble.</p>
<p>@mainelonghorn I buy and sell stuff on ebay</p>
<p>@mainelonghorn if I reported it under EC, would college need to see my own tax filing (I make less than 3k a year) </p>
<p>Sorry, I have no idea.</p>
<p>Income is income. If you are a profit, then you are legally obligated to report it to the IRS. </p>
<p>If you are applying for financial aid you will need to fill out a FAFSA, and that money from EBAY and the stocks have to be reported. If it is reported on your FAFSA, the IRS will be looking for it on a 1040.</p>
<p>some of it was made overseas, do I need to report that too?</p>
<p>
Are you US citizen or LPR? If yes, you would report worldwide incomes.</p>
<p>@4kidsdad will colleges cares/want to see it?</p>
<p>^You would report worldwide incomes on your tax return. I don’t think the admission office require to see your tax returns; however the financial aid office might.</p>
<p>It doesn’t matter if colleges want to see it; you are breaking the law by not filing a tax return and reporting it.</p>
<p>I have seen your question arise on CC many times - a student realizes - oops - on my application I talked about how I started my own (babysitting, lawncare, web design) business, but I don’t file a tax return - will colleges figure this out?</p>
<p>It does raise a red flag. No one can tell you specifically if the colleges you apply to or all colleges or colleges in general will care or want to see it.</p>
<p>Do the right thing so you can sleep at night and file a tax return for 2014 so that your FAFSA for 2015-2016 is ‘in sync’ with your college applications.</p>
<p>I’m not an expert on self-employment at all, but I think if you have over $400 of self employment earnings you need to file a return. I would think this qualifies as self employment.</p>
<p>I thought there was a minimum income one needed to achieve before a tax return was required. For single dependents I thought it was $3350. I am sure someone more knowledgeable about this can confirm.</p>
<p>@gamergal27: Self-employment income is a different animal; while it may be under the level at which INCOME tax will be owed, self employment tax (15.3%) is still due, and an income tax return must be filed.</p>