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How you report your child's investment income depends on how much they've made. A person is considered your child if they're a dependent under the age of 19 (24 if a full-time student) as of December 31, 2024.
Instructions are in the link; just choose your platform, TurboTax Online or Desktop: How to enter your child's unearned income.
Generally, you do not include your dependent child's income on your tax return.
If his only income is from interest and dividends, Alaska PFD or capital gains distributions shown on a 1099-DIV, there is a provision for entering it on your return, using form 8814. Enter at Less common income / Child's income.
But, it may be best for him to file a separate return, as qualified dividends and capital gain distributions could be taxed at a higher rate on the parent's return.
You do not report his/her income on your return. If it has to be reported, at all, it goes on his own return. If your dependent child is under age 19 (or under 24 if a full time student), he or she must file a tax return for 2024 if he had any of the following:
Even if he had less, he is allowed to file if he needs to get back income tax withholding. He cannot get back social security or Medicare tax withholding.
In TurboTax, he indicates that somebody else can claim him as a dependent, at the personal information section.
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