Question

Does my 5 year old have to file taxes for an IRA or do I have to file it under mine?

Forum|Forum|6 years ago
February 3, 2020
1 reply
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It is an IRA from a deceased family memeber

TurboTax Deluxe Online

If your five year old received a distribution from an inherited IRA, he/she may have to file a tax return if the income meets or exceeds the filing threshold. The income should NOT be included on your tax return. Income from an IRA is not considered earned income. You child will have to file a tax return if they had:

Unearned income more than $1,100.
Earned income more than $12,200.
Gross income more than $1,100, or $350 plus earned income up to $11,850, whichever is greater.

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