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Beth423
New Member

My son is 18 yrs old with W2 of $1,500 and capital gain distribution of $1,400. Should he file his own tax return? Can I report capital gain on 8814 and not file W2 inc.

My son is 18 yrs old earned from his part job $1,500 with $4.00 tax withheld and capital gain distribution of $1,400.  Should he file his own tax return? Or can I report his capital gain through form 8814 and not file W2 income earned from his part time job.

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Accepted Solutions
Hal_Al
Level 15

My son is 18 yrs old with W2 of $1,500 and capital gain distribution of $1,400. Should he file his own tax return? Can I report capital gain on 8814 and not file W2 inc.

He must file his own tax return, this year. Because of the W-2 income, you cannot file the capital gain on your return with form 8814.

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2 Replies
Hal_Al
Level 15

My son is 18 yrs old with W2 of $1,500 and capital gain distribution of $1,400. Should he file his own tax return? Can I report capital gain on 8814 and not file W2 inc.

He must file his own tax return, this year. Because of the W-2 income, you cannot file the capital gain on your return with form 8814.

VolvoGirl
Level 15

My son is 18 yrs old with W2 of $1,500 and capital gain distribution of $1,400. Should he file his own tax return? Can I report capital gain on 8814 and not file W2 inc.

Be sure on his return he checks the box that says he can be claimed on someone else's return.  That is Very important!

Online is only good for 1 return.  But you can use the same email address for 5 accounts.   How to start another return in the Online version      https://ttlc.intuit.com/replies/3288574

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