You'll need to sign in or create an account to connect with an expert.
No, either of you can report it if certain qualifications are met, but not both.
Form 1098-T - (I'm assuming it is 1098-T, since you have only mentioned 1098...) - parents report the education form, education expenses and claim an education credit if the child is claimed as their dependents. Otherwise, your daughter will claim the form and an education credit.
Form 1099-B - capital gains/losses should be reported on the child's tax return, not the parent's. Your daughter is required to file her own tax return if the unearned income (taxable capital gain) is $1050 or more.
NOTES:
No, either of you can report it if certain qualifications are met, but not both.
Form 1098-T - (I'm assuming it is 1098-T, since you have only mentioned 1098...) - parents report the education form, education expenses and claim an education credit if the child is claimed as their dependents. Otherwise, your daughter will claim the form and an education credit.
Form 1099-B - capital gains/losses should be reported on the child's tax return, not the parent's. Your daughter is required to file her own tax return if the unearned income (taxable capital gain) is $1050 or more.
NOTES:
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
2afe08450cd0
New Member
ecenurcosar
New Member
chunhuach
Level 1
tf35sc
Level 1
johndoe241004
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.