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New Member
posted Jun 4, 2019 3:07:18 PM

My minor child received a 1099-R for $368 for 2016 - what are my IRS reporting requirements?

I know that I don't include it on my tax return but I am trying to determine what my reporting requirements are?  Should I start a new tax return in TurboTax for my child to find that out?

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1 Best answer
New Member
Jun 4, 2019 3:07:20 PM

If someone is claiming you as a dependent, you might need to do your own taxes. If you find yourself saying, “Yes, that’s me,” to anything below, the IRS requires that you file a tax return of your own.
  • You earned more than $6,300. 
  • You have more than $1,050 of unearned income. Unearned income is money that you get without working like interest and dividends. ( Her amount is below this)
  • Your gross income was more than the larger of (a) $1,050 or (b) your earned income (up to $5,950) plus $350.
  • You had net earnings of at least $400 from your business or self-employment.
  • You had tax taken out of your paychecks and you want it back.

https://ttlc.intuit.com/replies/3302077



1 Replies
New Member
Jun 4, 2019 3:07:20 PM

If someone is claiming you as a dependent, you might need to do your own taxes. If you find yourself saying, “Yes, that’s me,” to anything below, the IRS requires that you file a tax return of your own.
  • You earned more than $6,300. 
  • You have more than $1,050 of unearned income. Unearned income is money that you get without working like interest and dividends. ( Her amount is below this)
  • Your gross income was more than the larger of (a) $1,050 or (b) your earned income (up to $5,950) plus $350.
  • You had net earnings of at least $400 from your business or self-employment.
  • You had tax taken out of your paychecks and you want it back.

https://ttlc.intuit.com/replies/3302077