For investment income, here is the criteria to include his income on your return.
Summary of Rules for Including Your
Child's Income on Your Tax Return
- At the
end of the tax year your child was younger than 19 or younger than 24 and
a full-time student.
- Your
child's only income was interest and dividends, including capital gains
distributions.
- Your
child's income was less than $10,500.
- Your
child would be required to file a tax return if you choose not to include
his income on your return.
- You are the kiddie-tax
parent, who is usually the one with the
highest taxable income.
- Your
child will not be filing a joint return and did not:
- pay
estimated taxes for the tax year;
- had
federal income tax withheld; or
- applied
an overpayment of tax from the previous year.
If any of the above is not true, then
you cannot include your child's income on your return; otherwise you can
file Form 8814, Parents' Election to Report Child's
Interest and Dividends with
your return. If this is not an option, you will need Form 8615
