1099B daughter account that has to file taxes. never reeived money but shares was sold. she cannot touch this money until age 21. what do i select on turbo tax what this is?
She didn't get the money because of her age. Her account earned income and is reported. If her only income is unearned income, then we look next at the amount. According to saving for college a child’s unearned income may include:
If the child's income is $14,600 or more, it must be on the child's own tax return. It cannot be included on the parents' tax return. If less, it can go on the parent's return.
See What is the Kiddie Tax? to know what should be reported where and how.