Is kiddie tax optional for the parents and the dependent child? Do we have an option to choose whether to tax the income on the parent's or child's level?
Please provide more information on how to properly complete the tax preparation in Turbo Tax when the software wants to tax the investment income on child's tax return and gives an error and tells you you need to complete additional forms with information about the parent.
The Kiddie Tax applies if your child:
Children who only have earned income from a job or self-employment, don’t make enough money to be required to file, or are filing jointly with their spouses are exempt from the Kiddie Tax.
See Kiddie Tax - for entering steps.
The Kiddie Tax applies if your child:
Children who only have earned income from a job or self-employment, don’t make enough money to be required to file, or are filing jointly with their spouses are exempt from the Kiddie Tax.
See Kiddie Tax - for entering steps.