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hintze017
New Member

I received 1099-DIV on my grand kids Cust UTMA-LA accounts. The amount of dividends and Capital Gains is just a little over $100. Do they have to file taxes?

 
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PaulaM
Expert Alumni

I received 1099-DIV on my grand kids Cust UTMA-LA accounts. The amount of dividends and Capital Gains is just a little over $100. Do they have to file taxes?

If the 1099-DIV is listed with your SSN, then you would report this income on your return.

If the 1099-DIV is listed with the SSN(s) of your grandchildren, then they would need to file taxes if the total of their investment income is more than $1050. See link below for when a child may have to file their own taxes.

https://www.irs.gov/pub/irs-pdf/p929.pdf

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PaulaM
Expert Alumni

I received 1099-DIV on my grand kids Cust UTMA-LA accounts. The amount of dividends and Capital Gains is just a little over $100. Do they have to file taxes?

If the 1099-DIV is listed with your SSN, then you would report this income on your return.

If the 1099-DIV is listed with the SSN(s) of your grandchildren, then they would need to file taxes if the total of their investment income is more than $1050. See link below for when a child may have to file their own taxes.

https://www.irs.gov/pub/irs-pdf/p929.pdf

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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