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Do I file 1099-B for a UTMA if I bought new stock in the account with the sold funds? Total gain, including dividends/interest, less than $1,050 for the year.
Used auto-import function in Turbotax to download all investment docs. It included the 1099-DIV and 1099-B for my child's UTMA account, and says I owe taxes on them, even though the total return (from sale of stock / dividends / etc) is less than $1,050. Does Turbotax take into account fact that the account is a UTMA, or do I have to do this manually, and delete the information from Turbotax?
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‎February 23, 2021
10:32 AM