The Wall Street Journal today says that the Kiddie Tax was corrected last year and that for 2018 and 2019 we can choose between the old rule (capital gains taxed at parents' rate) and the now-repealed new rule (capital gains taxed at trust rates).
How do I do this? I have TurboTax Basic for 2018, Deluxe for 2019. So I fire up TTax 2018 and open the young person's tax return to file a 1040-X. Will all the instructions be there?
(I work only with the forms, I don't use Step-by-Step unless I'm forced to.)
And am I assured that TTax 2019 will have this option built in? I did a rough cut last month on the young person's taxes and saw nothing to indicate that the law has changed.
Thank you!
