My minor son received a permanent fund dividend. His dad contributed 50% of it to a 529 plan. Is the entire $1,600 PFD taxable or just the $800 he received directly?

My son has $5,000 in income from his job and is required to file his own tax return, but his father refuses to provide the PFD 1099 form so we are at a loss as to what to do. The Permanent Fund Division refuses to help because his father is the custodial parent and they see this as a personal matter and not a taxation issue. As a single mom I cannot afford to hire an accountant or an attorney so I need to get this right.

921

Expert Alumni

Jun 1, 2019 11:29:48 AM

With income of $5000 (plus $800 dividend), he is not required to file a return. Minimum filing requirements are $12,000.

If he was a full-time student for at least 5 months of the year, you can claim him as your Dependent and he can still file a return (indicating he was claimed as a Dependent) to receive a refund of any Federal Tax withheld on his W-2.

It could be that his father is filing the PFD 1099 on his return, which he is allowed to do.

Here's more info:

https://ttlc.intuit.com/replies/3302274

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My minor son received a permanent fund dividend. His dad contributed 50% of it to a 529 plan. Is the entire $1,600 PFD taxable or just the $800 he received directly?