Skip to main content
April 2, 2025
Question

For UTMA, TurboTax imported my kid's 1099-DIV and 1099B

  • April 2, 2025
  • 2 replies
  • 0 views

TurboTax imported from Fidelity my kid's UTMA info (1099Div and 1099B). Should I delete these from my return? They each made less than $5000

2 replies

April 2, 2025

Your minor children need to file tax returns if their UTMA income is greater than $1250.  Either way delete them from your return.

 

@KMSapphire 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
April 2, 2025

I meant to say the gains were under $500 for each kid.

April 2, 2025