Dependent Child with a 1099-DIV and 1099-B

[powell2]

I have a dependent child with a 1099-DIV and 1099-B from a youth account (teen brokerage account) with amounts below the threshold to file. From what I understand, if the child has to file, he will file the 1099-DIV and 1099-B. However, these amounts are under the unearned income threshold to file, so I don't think he needs to file a tax return. Would you agree? Does it prevent issues when the IRS tries to reconcile 1099s with tax payer filings?

Also, do I need to report any of this on my tax return? I can't report a 1099-B on my taxes, but should I report the 1099-DIV? 

1099-DIV (Report to the IRS)

Box 1a Ttl Ordinary Dividends = .79 

Box 1b Qualified Dividends = .46

Box 2a Total Capital Gains Distribution = .02

1099-DIV (Not reported to the IRS due to de minimus rules)

Box 1a Ttl Ordinary Dividends = 3.41

Box 1b Qualified Dividends = 0

Box 2a Total Capital Gains Distribution = 0

1099-B

Total Proceeds = 31.86

Realized Gain = (5.14)

[MinhT1]

Your child income is well below the thresholds which require filing.

There will be no problem with the IRS.

Please read this TurboTax Help article.