topic UTMA and 1099-DIV in Get your taxes done using TurboTax

UTMA and 1099-DIV

jchesko1 — Thu, 10 Apr 2025 15:27:09 GMT

I imported by tax statements from Fidelity into TurboTax. I have a UTMA account for my daughter but when I review the section she doesn't appear as an option in the drop down menu. Only my name and my wife's.

The amount of the dividends is below the income limit so they won't need to their own return.

How do I get her name added as an option when reporting the 1099-DIV?

Re: UTMA and 1099-DIV

Mike9241 — Thu, 10 Apr 2025 15:41:58 GMT

assuming 1) it's her SSN on the 1099-DIV, 2) all her income is it, and 3) the total of dividends and capital gain distributions is not greater than $1300, there is no reporting on your return and she does not have to file her own return. She's not subject to the kiddie tax (it's tax-free).

if your SSN is on it, you're going to have to report it as in an out

Re: UTMA and 1099-DIV

jchesko1 — Thu, 10 Apr 2025 16:02:49 GMT

Thank you. Her SSN# is on the form. I will delete it from the return.