MO UTMA Investment Account

[Kevin_K]

We have a MO UTMA for our 17-year old daughter which had $450 in capital gains for 2020. She has $0 in any other form of income. I believe that means that she is not required to file a return; am I correct?  If so, are we required to report that on our return since she is our dependent?  Thanks!

[Bsch4477 · Accepted solution]

She is not required to file a return. 

You need to file a return if you’re a:

• Single dependent under age 65, not blind, and any of these apply:
  • Your unearned income was more than $1,100.
  • Your earned income was more than $12,200.
  • Your gross income was more than the larger of:
    • $1,100
    • Your earned income up to $11,850 plus $350