I'm custodian on my minor son's stock holdings w/ComputerShare. Do I put 1099-B and 1099-DIV forms on my joint return? Son's income is too low to require a return.

The account is a UTMA custodial account. I have put the 1099-DIVs on my return in the past, but this year have a 1099-B (sold one stock) and am now not sure if I was doing the right thing putting it on my joint return with my husband.

398

Expert Alumni

Apr 7, 2023 10:05:39 AM

Please view this IRS document as this explains how this income should be reported. In the document, it explains the reporting requirements if the child's investment income is over $2300. in this case, a 8615 would need to be filed. Turbo Tax can handle this if needed

If your child's investment income is less than $11,500 you may include this income on your own return by filing a 8814. Trubo Tax can handle this filing also. Certain other conditions must apply for the income to be included in your. Please read the additional requirements in the link provided above.

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I'm custodian on my minor son's stock holdings w/ComputerShare. Do I put 1099-B and 1099-DIV forms on my joint return? Son's income is too low to require a return.