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posted May 31, 2019 11:10:25 PM

How do I add my childrens' dividends from Form 1099-DIV UTMA account from Fidelity

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1 Best answer
Intuit Alumni
May 31, 2019 11:10:27 PM

Reporting your child’s dividend income is done in a different section of the program from where you would report your own interest or dividend income. 

To get to the correct section, use these steps:

  • On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)

  • This opens a box where you can type in “child income” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)

  • The search results will give you an option to “Jump to child income

  • Click on the blue “Jump to child income” link and enter your information

This will take you through a series of questions to be sure you are qualified to file Form 8814 – Parent’s Election to Report Child’s Interest and Dividends for your child’s income, and that you are electing to report it.  You will see a screen to enter your child’s information, even though you already entered it in the Dependent’s section.  Then there will be a series of questions and forms to fill in regarding the type and amounts of income your child received.  

For more information see the TurboTax article Tax Filing Requirements for Children and more information below regarding Kiddie Tax.

 

https://ttlc.intuit.com/replies/4790655


1 Replies
Intuit Alumni
May 31, 2019 11:10:27 PM

Reporting your child’s dividend income is done in a different section of the program from where you would report your own interest or dividend income. 

To get to the correct section, use these steps:

  • On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)

  • This opens a box where you can type in “child income” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)

  • The search results will give you an option to “Jump to child income

  • Click on the blue “Jump to child income” link and enter your information

This will take you through a series of questions to be sure you are qualified to file Form 8814 – Parent’s Election to Report Child’s Interest and Dividends for your child’s income, and that you are electing to report it.  You will see a screen to enter your child’s information, even though you already entered it in the Dependent’s section.  Then there will be a series of questions and forms to fill in regarding the type and amounts of income your child received.  

For more information see the TurboTax article Tax Filing Requirements for Children and more information below regarding Kiddie Tax.

 

https://ttlc.intuit.com/replies/4790655