Question

K-1 for Child's Custodial Account

Forum|Forum|5 years ago
March 23, 2021
1 reply
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I received a K-1 for an investment my child has in their custodial account. But the K-1 came in my name, not my child's. What do I do with the K-1? Do I report this on my own tax filing? My child does not need to file because their total income is below the thresholds.

P

PattiF

It depends, whose social security number is on the K-1? If it is yours, then you would include this with your tax return; if it is the child's social security number, then just keep this for your records.

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