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

[HelenaC · Accepted solution]

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:

• Tax Filing Requirements for Children - TurboTax Tax Tips & Videos
• At What Income Does a Minor Have to File an ... - TurboTax - Intuit

[LindaBelmont]

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.