If your child’s only income had been from interest and dividends, you may be eligible to report the income on
your own tax return. However, you mentioned that the 1099-B
reported a gain of $5282.76. By gain, I am assuming you mean that some stocks or securities were sold and the
proceeds were $5282.76. If that is the
case, then your daughter’s income will need to be reported on her own tax
return.
Even if the total amount of the $5282.76 was not capital gains due
to taking the basis into account, there is not a provision for reporting that
on your return instead of on your daughter’s.
You should complete your own return first because when you are
working on your daughter’s return, you will need some information from your
return to fill in Form 8615.
Take a look at the information below to learn more about the “Kiddie
Tax” and also see What
is IRS Form 8615.
NOTE:
If the gains you refer to
are capital gain distributions, then you may qualify to
report the income on your own return using Form 8814 rather than filing a
separate return for your daughter if that option is better for you.
https://ttlc.intuit.com/replies/3302004
edited 2/21/16 7:03 am PST to add "NOTE"
