The person claiming the children on their return would be the ones to file either form. See Topic No. 553 Tax on a Child's Investment and Other Unearned Income (Kiddie Tax) which states:
The following two situations may affect the tax and reporting of the unearned income of certain children.
- If your child's interest, dividends, and other unearned income total more than $2,200, it may be subject to a specific tax on the unearned income of certain children. See the Instructions for Form 8615, Tax for Certain Children Who Have Unearned Income for more information.
- If your child's only income is interest and dividend income (including capital gain distributions) and totals less than $11,000, you may be able to elect to include that income on your return rather than file a return for your child. See Form 8814, Parents' Election To Report Child's Interest and Dividends.
For either situation above to apply, your child must be required to file a return. For filing requirement information, see Publication 929, Tax Rules for Children and Dependents and Do I Need to File a Tax Return?
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
