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March 6, 2025
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Teen Brokerage Account Statement - Do I need to include in my taxes?

  • March 6, 2025
  • 1 reply
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My teen has a separate youth brokerage account. His 2024 tax reporting statement shows the following non-zero amounts in the 1099-DIV section: Total Ordinary Dividends ($150), Qualified Dividends ($64), Foreign Tax Paid ($1.09).  Nothing on the 1099-INT section.  Realized gain of $210 on the 1099-B section.

 

Do I need to include any of this on my tax return or file his tax return separately?  He did not have any other income.

Best answer by Bsch4477

You don’t have to include their income on your return and they have no filing requirement. But if they file they can get the one dollar of foreign tax paid back. 

1 reply

Bsch4477Answer
Employee
March 6, 2025

You don’t have to include their income on your return and they have no filing requirement. But if they file they can get the one dollar of foreign tax paid back. 

sking10Author
March 6, 2025

Thank you.  For future reference, what is the income threshold for teens beyond which they must file a return?

Employee
March 6, 2025