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wh921
New Member

Last year, my son's investment income was enough that TurboTax made me file taxes separately for him. This year his income was lower. Can I file his income under mine?

 
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Coleen3
Intuit Alumni

Last year, my son's investment income was enough that TurboTax made me file taxes separately for him. This year his income was lower. Can I file his income under mine?

For investment income, here is the criteria to include his income on your return.

Summary of Rules for Including Your Child's Income on Your Tax Return

  • At the end of the tax year your child was younger than 19 or younger than 24 and a full-time student.
  • Your child's only income was interest and dividends, including capital gains distributions.
  • Your child's income was less than $10,500.
  • Your child would be required to file a tax return if you choose not to include his income on your return.
  • You are the kiddie-tax parent, who is usually the one with the highest taxable income.
  • Your child will not be filing a joint return and did not:
    • pay estimated taxes for the tax year;
    • had federal income tax withheld; or
    • applied an overpayment of tax from the previous year.

If any of the above is not true, then you cannot include your child's income on your return; otherwise you can file Form 8814, Parents' Election to Report Child's Interest and Dividends with your return. If this is not an option, you will need Form 8615


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2 Replies
Coleen3
Intuit Alumni

Last year, my son's investment income was enough that TurboTax made me file taxes separately for him. This year his income was lower. Can I file his income under mine?

For investment income, here is the criteria to include his income on your return.

Summary of Rules for Including Your Child's Income on Your Tax Return

  • At the end of the tax year your child was younger than 19 or younger than 24 and a full-time student.
  • Your child's only income was interest and dividends, including capital gains distributions.
  • Your child's income was less than $10,500.
  • Your child would be required to file a tax return if you choose not to include his income on your return.
  • You are the kiddie-tax parent, who is usually the one with the highest taxable income.
  • Your child will not be filing a joint return and did not:
    • pay estimated taxes for the tax year;
    • had federal income tax withheld; or
    • applied an overpayment of tax from the previous year.

If any of the above is not true, then you cannot include your child's income on your return; otherwise you can file Form 8814, Parents' Election to Report Child's Interest and Dividends with your return. If this is not an option, you will need Form 8615


TomD8
Level 15

Last year, my son's investment income was enough that TurboTax made me file taxes separately for him. This year his income was lower. Can I file his income under mine?

The FAQ describes the process for this in TurboTax:  https://ttlc.intuit.com/questions/2899934-how-do-i-report-my-child-s-investment-income

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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