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Business & farm
@Bsch4477 wrote:Assuming the amount was other income in box 3 she would not have a filing requirement for her income so you can ignore it.
Assuming the daughter is a dependent, the daughter needs to file her own return because she does have a filing requirement. That amount exceeds the "Unearned" income threshold for filing as a dependent, and the daughter likely will be subject to the Kiddie Tax.
‎January 19, 2024
11:59 AM
1,126 Views