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MGC94
MGC94
Level 7
February 6, 2023
Question

TD Ameritrade Custodial Account

  • February 6, 2023
  • 1 reply
  • 23 views

Taxpayer name as cust for taxpayers dependent

Recipient's TIN is the taxpayer dependents.

Dependents DOB 03/26/2010 he is 12.

Will this go on the taxpayers account?

dividends 105.84

qualified dividends 105.84

1099-B

Proceeds $107,262.26

Cost Basis $106,202.74 

Wash $594.09

 

This topic has been closed for replies.

1 reply

ljr
ljr
Level 9
February 6, 2023

No to parents return. Once the dependent has sales (1099-B) they have to file their own tax return. Only interest and dividends can be elected to be put on the parents return. 

    MGC94
    MGC94Author
    Level 7
    February 6, 2023

    even though he is 12? and doesn't work? 

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