I'm new to this and have the same scenario with similar numbers for two dependents that received 1099-Bs. One dependent received it from a custodial account, the other received it from a youth account. Can you point me to the place that states Unearned Income includes Gross Income (i.e., proceeds (box 1d on 1099-B) before cost basis (box 1E) is applied)? Maybe it's just assumed. I've read conflicting advice on this, and wanted to make sure.
So this means that I need to file taxes for both dependents, but it appears that they would not owe taxes. I would file form 1040 and 8615. I haven't figured out of to get TurboTax to complete the 8615 yet. Any suggestions?
Thanks!
