tax file for my daughters

Forum|Forum|3 years ago
February 24, 2023
1 reply
0 views

Hi there,

1. One daughter doesn't have the W2 do i still need to file the tax return for my daughter? I am claiming her as my dependent. She has the 1099 Q and 1099 T from her school.

2. My other daughter has a W2 . Amount is less than $4000.00 . But she has school loans and 1099T , I am planning to claim her as dependent as well . Can i still file her tax return?

Thanks

Monikak11

Level 2

For the daughter with no copy of the W-2, she can file a return without it but would need to use the Substitute W-2 process, which would require filing by mail. Fill out the W-2 in TurboTax using the information from her last pay stub or other information. Continue the W-2 interview until you see uncommon situations and select "didn't get W-2".

She should try contacting the employer for a copy of the W-2. See this article for more information.

For the daughter with a copy of the W-2, she may be required to file. Dependents are required to file if any of the following apply:

unearned income was more than $2,900 ($4,650 if 65 or older and blind).
earned income was more than $14,700 ($16,450 if 65 or older and blind).
gross income was more than the larger of:
$2,900 ($4,650 if 65 or older and blind), or
earned income (up to $12,550) plus $2,150 ($3,900 if 65 or older and blind).

If she had withholding or made any estimated tax payments for 2022, then you should file a return to claim a refund of the taxes paid.

See this article from TurboTax for more information regarding who is required to file a tax return.

Click here for information from IRS regarding who should file and who needs to file.

taxmoney101Author

Level 2

Thanks Monica. By no W2 i meant that she doesn't have any pay stub or income at all for 2022. But she has 1099 INT and 1099 Q. Does she need to file the tax return for 2022? I am claiming her dependent in our husband wife joint return

SharonD007

Level 14

It depends. If your dependent child’s only source of income was investment income and it was less than $1,150 (in interest, dividends, and capital gains), they are not required to file a tax return. Form 1099-Q only needs to be reported on the tax return of the person whose SSN is on the form if the withdrawal is more than the tuition paid in Box 1 of the 1098-T plus other adjusted qualified educational expenses. In that case, the earnings on the excess distribution would be taxable income. To find out what are qualified educational expenses, please review the Guide to Tax Form 1098-T: Tuition Statement.

Please review the TurboTax article Guide to IRS Form 1099-Q: Payments from Qualified Education Programs for further details.

You can report the 1098-T on your tax return if your daughter qualifies as your dependent. You may also qualify for the Lifetime Learning Credit or the American Opportunity Tax Credit if it is not for the same expenses that the 529 Plan was used for. For example, If the 529 Plan withdrawal was $5,000 and the tuition and qualified educational expenses are $10,000, you can claim a $1,000 lifetime learning credit on $5,000 of expenses, and the qualified expenses on your 529 plan will be reduced by $5,000.

Please see the TurboTax articles Guide to Tax Form 1098-T: Tuition Statement and What Are Education Tax Credits? For additional information.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"