Unearned income, also known as passive income, is derived from sources other than employment or business operations and can act as a financial safety net during times of job loss or financial crisis.

Here’s how to tell if your child needs to file a tax return and how it can impact your tax liability.

College students earning money from jobs, freelance work, or scholarships may need to file taxes depending on income type and limits. Parents can often still claim them as dependents. Filing may also ...