Re: 1099-Div UTMA brokerage accts
Expert Alumni

Get your taxes done using TurboTax

The 28% capital gains tax rate applies to sales of collectibles and that is what is reported in box 2(d) on the form 1099-DIV. I'm not sure where you saw a question regarding that in TurboTax, I just see this screen when I enter dividend income for a child in TurboTax:

 

 

You can prepare her tax return for no additional charge since you are using the desktop version of TurboTax.

 

If any of the children have unearned income under $1,100, then they don't need to file a tax return and their income does not need to be reported on anyone else's tax return.

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