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Jcecocn
New Member

Filing 8814 after Turbotax already imported 1099-DIV to my file

When I logged in to my brokerage inside of the turbotax application, it imported all of my 1099s, INT and DIV. But, it also imported in my childrens' UTMA 1099-DIV information in to my file.

 

To be clear, I am the custodian of the UTMAs, but the 1099-DIVs are in their name, with their SSNs on them.

 

So, my questions:

  1. Do I manually delete the 1099-DIVs imported by Turbotax and manually create the 8814s myself (the income is within the $1,050-$10,500 range where I can report on my 8814)
  2. Since the 1099-DIVs were issued in the childrens' names, to I need to list any of the dividends as nominee dividends?
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1 Reply
Kat
Level 15
Level 15

Filing 8814 after Turbotax already imported 1099-DIV to my file

Since you're choosing to include this income in your tax return, TurboTax will generate Form 8814 for you as you go through the interview in the program.  You won't need to delete the childrens' imported info, as it is designated using their name(s) and SSNs.   I just filed for my daughter, whose son had a very small amount of dividend income.  The program worked like a dream and created Form 8814 for the joint return of my daughter and husband.  The TurboTax FAQ below will explain how to  enter the income into your TT program.  

 

https://ttlc.intuit.com/questions/2899934-how-do-i-report-my-child-s-investment-income

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***

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