topic Should I file the 1099-B for an account that we were custodian for my daughter? Or should it be filed under her taxes for 2018? in Retirement tax questions

Should I file the 1099-B for an account that we were custodian for my daughter? Or should it be filed under her taxes for 2018?

bergeron-bunch — Tue, 04 Jun 2019 22:10:06 GMT

A custodial account is under the child's social security...

Leonard — Tue, 04 Jun 2019 22:10:07 GMT

A custodial account is under the child's social security number.

However, since she is your child and dependent, there is a provision for entering it on your return, using form 8814. But, this can only be done if her only income is from interest and dividends.

Because there are no interest or dividends reported on Form 1099-B your daughter will have to report the 1099-B on her own tax return.

[Edited 03/12/219 | 1:45pm PDT]

And a 1099-B isn't either interest or dividends. She nee...

BobinCT — Tue, 04 Jun 2019 22:10:09 GMT

And a 1099-B isn't either interest or dividends. She needs her own return.

I have edited my answer to clarify the reporting of your...

Leonard — Tue, 04 Jun 2019 22:10:10 GMT

I have edited my answer to clarify the reporting of your daughters custodial account.

Right, but if they are filing a return for their daughter...

BobinCT — Tue, 04 Jun 2019 22:10:12 GMT

Right, but if they are filing a return for their daughter for the 1099-B they should also put any dividends or interest on her return, as well.