We received a 1099-Div/Int/Misc form (below) from Fidelity for the custodial account @Fidelity for my now 15yr old
He needs to file his own return as he earned money last year while lifeguarding
Does this form/income go on his return or mine? What is being taxed, all dividends etc or just the Cap Gains Distro @amount shown below?
Thank you
Under the 1099-Div section it shows (not the actual numbers)
1a Total ordinary dividends: $123
1b qualified dividends: $120
5 Section 199A dividends $10.50
under 1099-int it shows under
1 interest income $2.52
then the Total Capital Gains Distributions Detail shows
Capital Gain Distributions Subject to Applicable Rate (m): $26.23
