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natashanicole31
Returning Member

Hi, we received 1099-B this year for our dependent child. We entered 1099-DIV, but I don't see how to enter the 1099-B Cost basis. Is there another section for this?

We have a 1099-B and a 1099-DIV, but no 1099-INT for our child, and we are including it in our married filing jointly 2021 Taxes.
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2 Replies

Hi, we received 1099-B this year for our dependent child. We entered 1099-DIV, but I don't see how to enter the 1099-B Cost basis. Is there another section for this?

Sorry ... but if the child had sales they MUST file their own return reporting all their income.  Only interest and dividends can be entered on the parent's return.  

Hi, we received 1099-B this year for our dependent child. We entered 1099-DIV, but I don't see how to enter the 1099-B Cost basis. Is there another section for this?

And since your child has to file their own return for it then enter all their income on it, not on yours.

 

To file a separate return for your dependent you need to set up a new account.  Online is only good for one return per account.  You can use the same email address for 5 accounts.

 

How to start a new online return

Https://ttlc.intuit.com/questions/1894512-how-do-i-start-another-return-in-turbotax-online 

 

Be sure on their return they check the box that says they can be claimed on someone else’s return.  If their only income is W2 and under 12,550 they do not have to file a return except to get back any withholding taken out.

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