How to Declare Income for Teenage Babysitting
Babysitting is a wise way for a teenager to earn part-time money and to save for college. While it is unnecessary for most teens to declare babysitting money for tax purposes, conditions exist when it is either wise or legally obligated. As of publication, a teen must declare an income to the Internal Revenue Service if she makes more than $5,700 from babysitting during a calendar year, according to Teens and Taxes. The teen -- or her parents -- may also wish to open a Roth IRA for her college savings, and legally declaring an income will help build the account's value.
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Instructions
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Visit the IRS website. Click on the "Form 1040-ES" link in the upper left corner of the home page.
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Download and print Form 1040-ES. Complete the form as specified per prefabricated instructions. Fill in the self-employment tax and deduction worksheet. Sign and date the form. Send the form and any prefabricated payment voucher forms necessary to your submission.
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Copy all of your completed IRS forms. Make all checks or money orders payable to the Internal Revenue Service. Send all payments and original forms to the IRS payment P.O. Box address associated with your state. Find the address and contact information of your state IRS P.O. Box on page four of the 1040-ES form. Keep your form copies for tax record purposes.
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