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patdon91
New Member

I sold stock in my children's account. They each received a tax statement. Can I report the gains on my income tax or do I have to report it on their income tax?

Taxes are significantly less if I report their profit from the sale of stocks on my tax return.

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Bsch4477
Level 15

I sold stock in my children's account. They each received a tax statement. Can I report the gains on my income tax or do I have to report it on their income tax?

It is their income and should be reported on their return.

View solution in original post

1 Reply
Bsch4477
Level 15

I sold stock in my children's account. They each received a tax statement. Can I report the gains on my income tax or do I have to report it on their income tax?

It is their income and should be reported on their return.

View solution in original post

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