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Dependent with unearned income

Did my dependent child (22 years old student) need to file tax returns if he had unearned income of $9,000 (Crypto)?

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Accepted Solutions
TomD8
Level 15

Dependent with unearned income

Yes.  A single dependent with unearned income over $2,800 (2021) must file a tax return.  

Page 11, https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

 

Be sure your dependent indicates on their return that they can be claimed as a dependent by someone else.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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1 Reply
TomD8
Level 15

Dependent with unearned income

Yes.  A single dependent with unearned income over $2,800 (2021) must file a tax return.  

Page 11, https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

 

Be sure your dependent indicates on their return that they can be claimed as a dependent by someone else.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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