Question

How much can I make as a daycare provider before I am responsible for reporting child care income?

Answer

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 Topics

Related Resources

If I received insurance claim income for an auto-accident injury I suffered, is this insurance claim taxable income that

If you received an insurance check for an auto-accident claim, do you report this as taxable income? Learn more from the tax experts at H&R Block.

What is adjusted gross income and what is taxable income — What’s the difference between the two?

What is the difference between taxable income and adjusted gross income (AGI)? Learn more from the tax experts at H&R Block.

How do I report gambling winnings and deduct gambling losses?

What is the process for reporting winnings from online gambling? Learn more from the tax experts at H&R Block

Income Tax – Why Do We Pay Federal Income Tax

Learn about federal income tax and why citizens pay income tax. Get a brief introduction to federal income taxes and how H&R Block can help.