Solved: My 2 year old dependent got a 1099-div with less than 350 in boxs 1a and 1b. Do I file it somehow?
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My 2 year old dependent got a 1099-div with less than 350 in boxs 1a and 1b. Do I file it somehow?

 
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My 2 year old dependent got a 1099-div with less than 350 in boxs 1a and 1b. Do I file it somehow?

You don't have to file a federal income tax return for your daughter and you don't have to claim the $350 dividend income, on your federal income tax return. The 2016 Filing Requirement for Dependents, with only unearned income, is $1,050. See the screenshot below.

The IRS also has a cutoff level for "unearned income," such as dividends or interest. If your child's income is above this year's level, she has to file; below that point, she isn't required to file a tax return.

Related information:

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My 2 year old dependent got a 1099-div with less than 350 in boxs 1a and 1b. Do I file it somehow?

You don't have to file a federal income tax return for your daughter and you don't have to claim the $350 dividend income, on your federal income tax return. The 2016 Filing Requirement for Dependents, with only unearned income, is $1,050. See the screenshot below.

The IRS also has a cutoff level for "unearned income," such as dividends or interest. If your child's income is above this year's level, she has to file; below that point, she isn't required to file a tax return.

Related information:

View solution in original post

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My 2 year old dependent got a 1099-div with less than 350 in boxs 1a and 1b. Do I file it somehow?

She may have to file a state return. Check with your state department of revenue. For example, in PA she would have to file a tax return if she has over $33.00 in income.
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