We can no longer claim my son as a dependent. Do his Gross Proceeds and Realized Gain from 1099-B still get reported on our return?

[Coleen3 · Accepted solution]

No, he would file his own return. The filing requirement for a single person is $12,000. If his proceeds are less than this amount and he has no other income, he is not required to file. However, if he has a loss greater than $3,000, he may want to file anyway so he can carry the loss forward to future years.

[sgkibean]

Thank you, Coleen!  I filed his taxes for him and did include this, since his income was over $12,000.

[Coleen3]

My pleasure!. I'm glad it was helpful.