How do I report my child's investment income in 20...

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How do I report my child's investment income in 2020?

Here, we define "child" as a dependent under the age of 19 (24 if a full-time student) as of December 31, 2020.

  • If your child's only income is unearned and doesn't exceed $1,100, it doesn't need to be reported
  • If your child's unearned income is $12,400 or more, they will need to file their own return

Your child will also need to file if their unearned income is between $1,100 and $12,400, but in certain situations this income can be included on your return. Use TurboTax to help you figure out how to best report this income:

  1. Open or continue your return if you don't already have it open.
  2. Search for child income and select the Jump to link in the search results.
  3. Answer Yes to both Any Child's Income? and Child Required to File?
  4. Select Continue on the Reporting Your Child's Income screen.
  5. We'll ask you a series of questions to determine if the income can be included on your return or if your child needs to file their own return.

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