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How do i do taxes online for free?

How do I pay taxes if I make money online?

  • Well, I make money online through a website called ShareCash. Pretty much, I earn money by getting people to download files. I just heard that I need to pay taxes? or they report my income to the IRS if I make over $600? Well, I am 17 and recently have been using my moms paypal to send my earnings to. I am starting to get near that $600 line, so my questions is.... How the **** do I pay these taxes? Lol. How do I know how much to give for taxes? How do I send the taxes? I turn 18 in February btw.

  • Answer:

    You must pay taxes if you make $400 or more doing this kind of work. Even if they do not report the income, you must report the income. First, you fill out Form 1040, Schedule C or C-EZ, and Schedule SE. These papers will tell you how much you must pay. Next, you send the money and the form and schedules to the IRS. You can pay electronically, or you can put a check or money order into an envelope and mail it.

StephenW... at Yahoo! Answers Visit the source

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Let's start with the $600. This is a rule for the payer, not you. If you have only this income and it's more than $400, you MUST file. If you have other income, and it's more than $5800, you have to report every $1. At 17, to be honest, you shouldn't have been online. Your mother is going to have to explain to the IRS that this is not *her* income.

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At the end of the year your parents will need to file an income tax and claim this as child's income (yours). Your parents will end up paying taxes on this income.- it is household income not reported elsewhere.

RBT618

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