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.
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.
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