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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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June 1, 2019
12:15 AM
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June 01, 2019
12:15 AM
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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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June 1, 2019
12:15 AM
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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"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
June 1, 2019
12:15 AM
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