My 9 year old's custodial account had dividends and interest totaling $1,130.47 for 2018. This seems to be over the $1050 limit. How do I claim this on Turobotax?
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

My 9 year old's custodial account had dividends and interest totaling $1,130.47 for 2018. This seems to be over the $1050 limit. How do I claim this on Turobotax?

 
5 Replies
Highlighted
Level 15

My 9 year old's custodial account had dividends and interest totaling $1,130.47 for 2018. This seems to be over the $1050 limit. How do I claim this on Turobotax?

Delete duplicate answer
Highlighted
Level 15

My 9 year old's custodial account had dividends and interest totaling $1,130.47 for 2018. This seems to be over the $1050 limit. How do I claim this on Turobotax?

You can report the child's unearned income on your tax return using Form 8814 -

Enter kiddie tax in the Search box located in the upper right of the program screen.  Click on Jump to kiddie tax

Highlighted
New Member

My 9 year old's custodial account had dividends and interest totaling $1,130.47 for 2018. This seems to be over the $1050 limit. How do I claim this on Turobotax?

Thank you - I am in there but I am confused on it asking how much of the capital gains distribution is  subject to the 28% tax rate. NO idea on how to answer this - how would I know?
Highlighted
Level 15

My 9 year old's custodial account had dividends and interest totaling $1,130.47 for 2018. This seems to be over the $1050 limit. How do I claim this on Turobotax?

The bank or brokerage would have indicated that on the 1099-DIV or other document.  You can leave that field blank if you have no information concerning that 28% tax rate.  
Highlighted
New Member

My 9 year old's custodial account had dividends and interest totaling $1,130.47 for 2018. This seems to be over the $1050 limit. How do I claim this on Turobotax?

OK great - thanks so much for your help! Finished it so I should be good!
Privacy Settings