What tax form(s) do I need to enter a child's inheratnce from a Traditional IRA?

lawre51 — Sat, 01 Jun 2019 04:39:30 GMT

I need to know what federal and state forms to send in to both taxing agencies. My granddaughter inherited the money from her grandmothers traditional IRA. Edward Jones sent her the amount in one check.

This is unearned income of the child. If the child's tot...

dmertz — Sat, 01 Jun 2019 04:39:32 GMT

This is unearned income of the child. If the child's total unearned income is more than $1050, you must report this on the child's own tax return. Otherwise, it is not reportable and no income tax return for the child is needed if there is no other reason that the child must file a tax return. Under no circumstances is this reportable on your own tax return.

topic What tax form(s) do I need to enter a child's inheratnce from a Traditional IRA? in Retirement tax questions

What tax form(s) do I need to enter a child's inheratnce from a Traditional IRA?

This is unearned income of the child. If the child's tot...