Solved: What do I do with a W2 I received for my child? It is under $500 for the year. His other income (from savings) is also under $500.
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
johnrabaey
New Member

What do I do with a W2 I received for my child? It is under $500 for the year. His other income (from savings) is also under $500.

 
1 Best answer

Accepted Solutions
RichardG
New Member

What do I do with a W2 I received for my child? It is under $500 for the year. His other income (from savings) is also under $500.

Your son's wage income is not reported on your tax return.  His combined wages and unearned income is below the filing threshhold of $1,050, so he is not required to file a return, and you are not required to report his savings income on your return in this case.  If taxes were withheld from his pay, you might consider filing a return for him to get a refund for him.

View solution in original post

1 Reply
RichardG
New Member

What do I do with a W2 I received for my child? It is under $500 for the year. His other income (from savings) is also under $500.

Your son's wage income is not reported on your tax return.  His combined wages and unearned income is below the filing threshhold of $1,050, so he is not required to file a return, and you are not required to report his savings income on your return in this case.  If taxes were withheld from his pay, you might consider filing a return for him to get a refund for him.

View solution in original post

Dynamic AdsDynamic Ads
v
Privacy Settings