Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
chase-frankford
New Member

Do I need to file a Child's Income form if my parent is not claiming me? I cannot skip it since I've made a certain amount of gains through stocks.

 
1 Best answer

Accepted Solutions
BobinCT
Level 7

Do I need to file a Child's Income form if my parent is not claiming me? I cannot skip it since I've made a certain amount of gains through stocks.

The rule is not whether your parent claims you.  It's whether they qualify to do so.  So you need to indicate that someone can claim you and you almost certainly do need to file a tax return and will probably owe some income tax.

View solution in original post

4 Replies
BobinCT
Level 7

Do I need to file a Child's Income form if my parent is not claiming me? I cannot skip it since I've made a certain amount of gains through stocks.

The rule is not whether your parent claims you.  It's whether they qualify to do so.  So you need to indicate that someone can claim you and you almost certainly do need to file a tax return and will probably owe some income tax.
chase-frankford
New Member

Do I need to file a Child's Income form if my parent is not claiming me? I cannot skip it since I've made a certain amount of gains through stocks.

Thank you for the response. What I'm more concerned about is that I'm in the military and I'm 100% independent from my parents for 3 years now. When I enter in my parent's est. income, I owe back an additional ~$1,500 federally. Will I potentially get this money back once my parents do their taxes and do not claim me?
BobinCT
Level 7

Do I need to file a Child's Income form if my parent is not claiming me? I cannot skip it since I've made a certain amount of gains through stocks.

You should indicate that no one else can claim you.  And your parents shouldn't claim you. And you should get a question to the effect of whether your earned income provided more than 50% of your support, to which you say yes.  The child's income questions should then so away.
chase-frankford
New Member

Do I need to file a Child's Income form if my parent is not claiming me? I cannot skip it since I've made a certain amount of gains through stocks.

Ahh I'll go back and do that. Thank you so much for your time and response.
Dynamic AdsDynamic Ads
Privacy Settings
v