1099-B Custodian Acct - submit her own return?

Hello,

My daughter (3 years old) received a 1099-B tax form for an ETF sale ($1300 gain) and 1099-DIV ($1350 dividend).

Is there anyway to include her on my tax form? Or must I submit her own tax return due to the investment sale?

Any suggestions on free online tax return services I can use for her?

Thanks,

203

Expert Alumni

Feb 20, 2021 1:42:25 PM

The investment sale will require a separate return for your daughter. You cannot include that transaction on your return.

For more information about when you can report your child's income on your return, see the following TurboTax article:

How do I report and pay the Kiddie Tax on my 2020 return?

I cannot provide any suggestions for a free service you could use, but if you used one of the CD/downloaded versions of TurboTax, you can use the software for your own return as well as your daughter's.

Level 15

Feb 20, 2021 2:09:59 PM

because there was a stock sale in her custodial account she must file her own return and include form 8615 (turbotax will ask the necessary questions about the parents' income tax return so that needs to be done before hers.)

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1099-B Custodian Acct - submit her own return?