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Get your taxes done using TurboTax
As rjs states above, you can't add regular capital gains in an UTMA account to a parent's return.
However, if the child has only capital gains distributions from a mutual fund (reported on 1099-DIV) then the income can be reported on the parent's return.
However, you can't import this type of data - you'd need to manually input in the area for child's income reported on parent return. This goes in the section for "child's income" under Less Common Income in TurboTax.
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March 24, 2025
7:35 AM