LedgerCore Financial

Tax Talk Tuesdays!

We get many questions during tax season (and throughout the year), and we’ll be sharing some of them - and the answers - here through April 15th:

Question:

My child earned some income in 2025. Do they have to file a tax return?

Answer:

Dependent children under the age of 19 (or 24 if they are a full-time student) *must* file tax returns if the following are true:

* They have interest, dividends, or capital gains that, when combined, total greater than $1,350

* They have W-2 wages that total more than $15,750

* They have net self-employment income (reported on 1099-MISCs or 1099-NECs, minus deductible expenses) greater than $400

* They have any two or all three of the above, and the total of all types is more than $1,350

If none of the above scenarios is true, then your child is not required to file a tax return!

But… they are always *allowed* to file a tax return, even if they aren’t *required* to… and even when they’re not *required* to file, they’ll/you’ll still *want* them to file if they had any W-2 wages from which income tax was withheld… because they will receive a refund of ALL of that withholding!

As always, ask your tax preparer for more information!