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Level 2
February 17, 2021
Question

How to report UTMA IN PROCONNECT online for income under $2200

  • February 17, 2021
  • 1 reply
  • 9 views
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1 reply

George4Tacks
Level 15
February 18, 2021

I assume the EIN is for the child. It goes on the child's return and you indicate that the child is claimed as a dependent. The child may owe some tax, based on the AMT. of the UTMA. 

Answers are easy. Questions are hard!
vanidosa27
Level 3
March 16, 2021

How do you report the UTMA in the child’s social security number. It’s under $300. 

sjrcpa
Level 15
March 16, 2021

If that is their only income the child does not have to file.

Otherwise report it on the child's return.

The more I know the more I don’t know.