UTMA - Who Files? How/Where in TurboTax?

[AVW0007]

We opened an UTMA account for our daughter in 2024. I am confused on how to file.

The 2024 end of year summary document includes a 1099-INT and 1099-DIV, and all totals for these two forms are less than $500. However, the documents also include a 1099-B and some totals there are between $1500-$2000 (in the proceeds box, for example). The language on the 1099-B suggests we need to enter this information somewhere for reporting purposes.

Do we include this income on our return (my husband and I's joint filing)? If so, where specifically would we input this information into TurboTax software?

OR, do we have to file a return for our daughter? She has no other income and is under 19. If so, where specifically would be input this information into TurboTax for a return for her?

Thank you for the help!

[Mike9241]

This sounds like it is the Kiddie Tax (KT) situation

she must file a return if her gross income (unearned income) is $1300 or more. for this purpose gains but not losses from stock sales are included in gross income.  If reporting is required the parent can not include her income on their return using form 8814 because of the stock sales.  if she's required to file the return must include form 8615. This form requires that the parents complete their return first because info from that is needed for this  tax form

how is her unearned income is taxed. This is not the same as the filing requirement 

1) 1st $1300 is not taxed

2) $1300-2600 taxed at child's rate

3) over $2600 taxed at parents' rate.