I am working on parent's joint tax return. I downloaded all their 1099's directly to TT from their brokerage. The downloaded 1099's included those for the two kids UTMA accounts. However, these kid's 1099's show up as part of the parent's incomes and there is no way to change that to the kids. So I deleted these two UTMA 1099's.
While I haven't gotten there yet, I am wondering when I get to the kiddie tax portion of the return, will I be able to download the kid's 1099's into that section. I understand I can probably manually enter the information this year, but in future years, if the 1099 includes stock sales, it will be a real pain trying to enter the info manually.
Of course, I understand that an alternative would be for each kid to file his/her own tax return. Although, even there, I'm not sure how the download process would work because obviously the kids do not have a user name and password for the brokerage account.
