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Retirement tax questions
@Tnoble wrote:
I’m in the same boat
my son lost his dad and he got his thrift savings. So I file taxes for him and I can still claim him in my taxes? My sons 1099r they took out $6,000 for federal and $0 for state.
What do I do? I’m confused.
Income paid to a child is only reported on a tax return in the child's name, it can't be added to a parent's return. This does not usually change the fact that you claim the child as a dependent on your tax return. When preparing the child's tax return, make sure to answer "yes" to the question, "can this person be claimed as a dependent by someone else?"
To prepare someone else's return in Turbotax Online, you would need a separate online account with a separate user name and password. Each online account can only prepare one return for one person.