Do parents have to claim 1099-DIV for child's IA/UTMA ?

Forum|Forum|7 years ago
May 31, 2019
2 replies
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We have two children that each received a 1099-DIV form. Husband's name is listed first on form and then the child (Age 15 & 12). Each with total gain of only $35.10. Are we responsible for claiming this or is the child? Does the child even have to file if this is only income?

Best answer by Heather_Billings

If the 1099-DIV are listed in the SSN of you or your husband - then yes, you need to report this income on your return.

If the 1099-DIV are listed in the SSN of your child(ren) - then unless they had more than $1,050 of investment income in 2014, no you do not need to report this anywhere. No return is needed for the child.

H

Heather_BillingsAnswer

Employee

If the 1099-DIV are listed in the SSN of you or your husband - then yes, you need to report this income on your return.

If the 1099-DIV are listed in the SSN of your child(ren) - then unless they had more than $1,050 of investment income in 2014, no you do not need to report this anywhere. No return is needed for the child.