What is "student untaxed income"

Paying for College
1

<p>I have no income to officially report. However I get money from things like babysitting tutoring etc. Does this count as untaxed student income?</p>

2

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That would be your earned income.</p>

3

<p>I don’t know for sure, but I wonder if it would be earned income. There won’t be a W2 or 1099 if he just babysits for a variety of people.</p>

4

<p>I don’t think most people report periodic babysitting jobs. It would be different if you were doing full time day care for someone.</p>

5

<p>As some people have pointed out; it may be a good idea to consider filing a tax return to report this earned (cash) income when the student has written about the job in college application essays.</p>

6

<p>

The US tax laws say differently.</p>

7

<p>Please correct me if I am wrong, but according to the IRS, a federal tax return is required for a single, dependent minor whose earned income meets or exceeds $6100. I have definitely not made that much in 2013.</p>

<p>[Publication</a> 929 (2013), Tax Rules for Children and Dependents](<a href=“Publication 929 (2021), Tax Rules for Children and Dependents | Internal Revenue Service”>Publication 929 (2021), Tax Rules for Children and Dependents | Internal Revenue Service)</p>

8

<p>If you have a withholding, you should file the tax return even you made less than $6100. Then you may get at least part of the tax back.</p>

9

<p>You may not have to file a tax return, but that doesn’t make it ‘not income.’ For the FAFSA, you must report earned income (wages) and other income. Other income, which you asked about, can be all kinds of things, from insurance pay outs, SSI, from sale of belongings, stock sales, etc. You have to look at each asset to see if it needs to be reported on a tax return or on FAFSA.</p>

10

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</p>

<p>Same reference.</p>

11

<p>I wouldn’t report babysitting. That’s more like, compensation for volunteer work. I think of the income as the amount that would be on the W2s (or whatever form) from a company. At least, that’s all that I’m putting down for my income.</p>

12

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</p>

<p>“Compensation for volunteer work” is an oxymoron. If you’re volunteering, there is no compensation (at least, in a financial sense.) If you’re getting paid for doing something, you’re not a volunteer.</p>

<p>Payment for babysitting is earned income. Period. You don’t have to be issued a W2 (or a 1099) in order for payment for services to be considered earned income.</p>

13

<p>

That’s earned income.

It depends on the source of your earned income - wages, salary, or other (such as self-employment)</p>

14

<p>To update this thread, in case anyone else is in a similar dilemma, I spoke to my guidance counselor today and was told not to report the income, and that is what I will do.</p>

15

<p>To reply to the original question, this link explains what is included in student untaxed income.
<a href=“https://fafsa.ed.gov/fotw1314/help/faawsbs.htm[/url]”>https://fafsa.ed.gov/fotw1314/help/faawsbs.htm&lt;/a&gt;&lt;/p&gt;

16

<p>

</p>

<p>If you earned money from babysitting and tutoring, than you do have income to officially report. It might not necessarily be reported as untaxed student income, but it does need to be reported.</p>