in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
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I am finding conflicting reports- many times on the same discussion forum post.
I have a dependent who is 11 years old and has a 1099-DIV showing $131.12 of dividends and $1,123.87 of capital gain distributions.
I am seeing one forum response to this issue seeming to indicate that it doesn't need to go anywhere if it's under $1,250 and one forum response to the same question showing that I need to report it on my wife and I's joint income tax filing.
Would someone please clarify?
Also, if I DO need to use form 8814, how do I get TurboTax to generate it for me?
thank you!
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The child files their own return taking care to say that someone else can claim them. The income is barely over the Kiddie Tax threshold so any tax due would be trivial. If triggered the program will supply the necessary form.
Thanks for the information.
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