I just finished doing the Form 8814 (1040) for figuring out 2014 1099 DIV amounts (child's interest and dividend to claim). Both my children are 16 & under non working students with no other form of income. They do have a custodial account that their dad is conservator (he is the "nominee" listed under the Account name on the 1099DIV and the Recipients ID#is my child's SS#. I just claim the one child that I get a tax exemption on. If I have it all straight now (after 2 hours on irs.gov and googling other's like-scenario's :0 ) I understand that if it's under the adults SS#, and not the child's, then they do not need to claim this amount on their taxes, as long as it's under $1000 . To figure this out, you need to ADD together:
Total ordinary dividends(line 1a on form 1099DIV) + Total Capital gain distribution (line 2a).
Our total was $1110.26 . Since it was under $2000, I was able to skip to line 13 and subtract the "Amount not taxed" figure of $1000 ($1110.26 line 4 - $1000 = $110.26)
Line 14 = $110.26 (says to multiply by 10% or .10) = $11.02 This is the figure you need to claim on Form 1040 Line 44. I hope this helps.
