Discussion:Invesment Income of Minor Children

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Discussion Forum Index --> Tax Questions --> Invesment Income of Minor Children


TimCPA (talk|edits) said:

3 April 2007
My client has two children, 17 yrs. old and 14 yrs. old. Each child has investment income of approximately $1,300. Should the parents include this income on their tax return? Thanks.

Deback (talk|edits) said:

April 3, 2007
Use either Form 8814 on the parents' return or file returns for each of the minors, as normal--whichever results in the lowest tax, including tax preparation fees.

TimCPA (talk|edits) said:

3 April 2007
Thank you!

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