Minor taxes

Forum|Forum|4 years ago
February 15, 2022
1 reply
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My 16y old gets survivors benefit. He received a Form SSA-1099-SM which is over 9,000. Also a Form 1098-T in box 1 and 5 is 1,690. Would he file and I still could clam him as my dependent?

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AmyC

Employee

No, he does not need to file. He may be your dependent The scholarship and tuition cancel each other out. You should always check to see if you can claim him and if he needs to file a return by taking these short quizzes:

Do I Need to File a Tax Return?

Whom May I Claim as a Dependent?

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Hal_Al

Employee

Social security payments to children.

If the Social Security (SS) payments, including SS disability, were under his/her SS number (as they usually are), it does not get reported on your return. If it does need to be reported, it would go on his/her individual return. If that was his/her only income, it does not get reported at all. She does not need to file a tax return.

SS is only taxable & reportable when added to sufficient other income. Social security only becomes taxable, when his income, including 1/2 his social security, reaches $25,000

You may still claim him, as a dependent, as long as he is not providing more than 1/2 his own support (including the social security being spent on him). Any part of his SS $ put into savings does not count as support.

Note that the requirement is not that you provide more than 1/2 his support (as it is with non child dependents , but only that he didn't provide 1/2.

The support value of the home, provided by the parent, is the fair market rental value of the home plus utilities & other expenses divided by the number of occupants.

The IRS has a worksheet that can be used to help with the support calculation. See: http://apps.irs.gov/app/vita/content/globalmedia/teacher/worksheet_for_determining_support_4012.pdf