Question

I have a custodian investment account for my 17 year old son. Do I report that 1099 on my taxes or on his?

No text available

Whose name is on the 1099? If it is yours, include it. If it has your son's name, you may need to file a return for him.

Single dependents— . You must file a return if any of the following apply.

1. Your unearned income was more than $1,100.

2. Your earned income was more than $12,550.

3. Your gross income was more than the larger of— a. $1,100, or b. Your earned income (up to $12,200) plus $350.

1 reply