- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Do I enter 1099-DIV and 1099-B from Custodial Account on my return or my child's who it is for?
Topics:
June 4, 2019
2:44 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
If that is the only income your child had in 2016 and it less than $1050, it doesn't need to be reported anywhere.
However, if your child had more unearned income than $1050, but less than $10,500, then you have a choice to either report it on your child's tax return or your own tax return. To report it on your own tax return do a Search (top right corner) for "8814". Then click on "Jump to 8814" and enter the information from Form 1099-DIV and then repeat the search for "1099-B"
Read more about it here: https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/Tax-Filing-Requirements-for-Children/I...
June 4, 2019
2:44 PM