I received a 1099-R for my minor son. My name also appears on the 1099-R as his parent. Is this added to my wife and I's joint return, or do we need to file for him?

[bogiemanskis]

This is from an annuity that was gifted to him and was distributed in 2016.

[MichaelMc · Accepted solution]

You probably need to file a separate return for your son. Since you mention being named as parent, I assume the annuity was titled similarly to "John Doe, parent, for Johnny Doe, a minor, under the Uniform Transfers to Minors Act" and has his Social Security number. If this is correct, and you are not in any way a co-owner, but simply a guardian/custodian, then the income cannot be reported on your tax return.

Under these circumstances, if your child is being claimed as your dependent, he must file a return if any of the following apply:

1. His unearned income was more than $1,050.
2. His earned income was more than $6,300.
3. His gross income was more than the larger of—
1. $1,050, or
2. His earned income (up to $5,950) plus $350.

If your child is not being claimed by you or anyone else as a dependent, he must file a federal tax return if his gross income is at least $10,350 for 2016.