My kids (14 &18 yrs old) received 1099DIV from their UGMA/UTMA acct. I filled out Form 8814 for their capital gains. Do I include their capital gains with my income?
My kids (14 &18 yrs old) received 1099DIV from their UGMA/UTMA acct. I filled out Form 8814 for their capital gains. Do I include their capital gains with my income?
If you are reporting your children's unearned income on your return because of the Kiddie
Tax, you can report their interest, dividends and capital gains distributions if you qualify. If the capital gains income is not from capital gains distributions, you would not be eligible to report their income on your return. See the FAQ below, and this link: If the
child's only income is interest and dividend income (including capital gain
distributions) an...
My kids (14 &18 yrs old) received 1099DIV from their UGMA/UTMA acct. I filled out Form 8814 for their capital gains. Do I include their capital gains with my income?
If you are reporting your children's unearned income on your return because of the Kiddie
Tax, you can report their interest, dividends and capital gains distributions if you qualify. If the capital gains income is not from capital gains distributions, you would not be eligible to report their income on your return. See the FAQ below, and this link: If the
child's only income is interest and dividend income (including capital gain
distributions) an...
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