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Get your taxes done using TurboTax
If you are the custodian, you should have received a Form 1099-DIV for the dividends and capital gain distributions. Your daughter should enter the 1099-DIV in TurboTax the same as if it were her own account, and not a UTMA account. It doesn't make any difference that it's a UTMA account. To enter the 1099-DIV, type 1099-div in the Search box, then click the link that says "Jump to 1099-div." TurboTax will put the income on the correct forms. Exactly where it's reported on the tax return depends on what other income she has.
March 25, 2021
11:51 AM