If someone (we'll call them David) is over 18 but a dependent (parent) and co-founder of a C-corporation (no payments or sales yet), how would this play into their taxes and the taxes of the person claiming them as a dependent?
David qualifies as a dependent but has a gross income of above $3000. Working a job/internship is ~$2000, ~$1000 is from a scholarship (taxable because it is received to be used as payment for services required as a condition for receiving the scholarship), and dividends are another ~$200.
How much of this is unearned vs earned income?
David would be receiving some founder's stock from the corporation as well, so it is recommended to file an 83(b). Would this be put under David's name? How should David report this to their parent if they need to?
Will David need to file any other corporation related tax forms (not majority owner and not the incorporator)?
Will David need to file income taxes separately from their parent this year?
Sorry for the super obscure post. Thanks for your help.
