Yes, per the IRS "The Internal Revenue Service reminds Alaskans that the Alaska Permanent Fund Dividend is taxable income for both adults and children, and must be reported on a Federal income tax return."
For more information, please click this IRS link: https://www.irs.gov/uac/a-reminder-to-alaskans
In TurboTax, you may need to do the following:
- Federal
Taxes
- Wages &
Income
- Less Common
Income
- Child's
Income (Under Age 24), Click Start
- Any Child's
Income?, click Yes
- Child
Required to File?
click Yes
- Then, Reporting
Your Child's Income- You may be able to report your child's income on your
return, using Form 8814, "Parents' Election to Report Child's
Interest and Dividends".
