Does my child need to file a return if I received a 1099-DIV and 1099-B for their UTMA account? 1099-DIV is for $125 and the 1099-B is less than $1. No other income.

ksarikhani · ‎February 28, 2025

I’m the custodian for my child’s account, but both 1099s show their name and it lists their SSN as the recipient. Child is preteen with no other form of income and is my dependent.

DawnC · ‎February 28, 2025

No. It doesn't need to be reported. If your dependent child made less than $1,300 in interest, dividends, and capital gains distributions combined, and that was their sole source of income, the child's income doesn't need to be reported on any tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

DawnC · ‎February 28, 2025

No. It doesn't need to be reported. If your dependent child made less than $1,300 in interest, dividends, and capital gains distributions combined, and that was their sole source of income, the child's income doesn't need to be reported on any tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

ksarikhani · ‎February 28, 2025

Perfect. Thank you so much.

Expert does your taxes

Do it yourself

Resources

Support

Does my child need to file a return if I received a 1099-DIV and 1099-B for their UTMA account? 1099-DIV is for $125 and the 1099-B is less than $1. No other income.