Can I 1099 My Minor Child?

Curious as to what can I 1099 My Minor Child implies? Read our breakdown and key takeaways.

If you receive an award and the payment was $600 or more during the year, you should receive a Form 1099-MISC, Miscellaneous Income. The 1099-MISC will show the amount of the award in box 3, Other Income. There is no withholding on this payment unless you failed to provide your taxpayer identification number.