How much can I make as a daycare provider before I am responsible for reporting child care income?
If you provide daycare services with the intention of making a profit, you’re considered self-employed and responsible for reporting child care income. So, report self-employment income and expenses on Schedule C. If your net income minus expenses is $400 or more, you’ll also need to:
- File Schedule SE
- Pay self-employment taxes
Related Resources
What are at-risk limits, and how can they help you reduce your reported income? Learn more about at-risk rules and get tax answers at H&R Block.
Do you need to report your social security disability income on your tax return? Learn more from the tax experts at H&R Block.
Learn more about how Roth IRA contributions are taxed with help from the experts at H&R Block.
Contributing to an IRA is beneficial, but what if you’ve converted a traditional IRA to a Roth IRA? How should that be reported on your taxes? Learn more with H&R Block.
