Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
barkel618
New Member

Do I need to claim the $98.00 my 16 year old earned on 1099-div. It is an UTMA account and I am cust FBO of the account but it is in her social security number

 
1 Best answer

Accepted Solutions
DeniseF1
New Member

Do I need to claim the $98.00 my 16 year old earned on 1099-div. It is an UTMA account and I am cust FBO of the account but it is in her social security number

No. If the 1099-DIV has your child's Social Security Number on it then you would not report this income unless the child had more than $1050 of investment income in 2017.

View solution in original post

1 Reply
DeniseF1
New Member

Do I need to claim the $98.00 my 16 year old earned on 1099-div. It is an UTMA account and I am cust FBO of the account but it is in her social security number

No. If the 1099-DIV has your child's Social Security Number on it then you would not report this income unless the child had more than $1050 of investment income in 2017.

View solution in original post

Dynamic AdsDynamic Ads
v
Privacy Settings