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New Member
posted Jun 3, 2019 5:14:53 PM

I filed a 104EX, but my Dad just told me that I have a Fidelity UTMA account with my name and social security number. Do i need to amend my return?

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1 Best answer
Level 15
Jun 3, 2019 5:14:59 PM

Probably, even if there wasn't a withdrawal. A UTMA account usually has income and/or capital gains and the account financial institution issues IRS 1099 forms for that income or gains. You Dad has probably been receiving those forms.

If you had enough income to be REQUIRED to file a 1040EZ, then yes you must amend. If you only filed a 1040EZ to get your withholding back, then it depends on more detail, mainly how much income was on your W-2 and 1099 forms

4 Replies
Level 3
Jun 3, 2019 5:14:55 PM

Was there a withdrawal?

New Member
Jun 3, 2019 5:14:56 PM

I meant filed a 1040EZ and no, there was no withdrawal

New Member
Jun 3, 2019 5:14:58 PM

Thank you.

Level 15
Jun 3, 2019 5:14:59 PM

Probably, even if there wasn't a withdrawal. A UTMA account usually has income and/or capital gains and the account financial institution issues IRS 1099 forms for that income or gains. You Dad has probably been receiving those forms.

If you had enough income to be REQUIRED to file a 1040EZ, then yes you must amend. If you only filed a 1040EZ to get your withholding back, then it depends on more detail, mainly how much income was on your W-2 and 1099 forms