- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Question on forgetting to file something on taxes
Posted on 2/7/14 at 10:09 am
Posted on 2/7/14 at 10:09 am
I have an investment account for my daughter who is 4. She received like $10 in dividends last year that I forgot to claim. Should I go through the trouble of filing an amended or put it on this years return or don't do anything. Also, she received more dividends this year. Would I just put those under my income?
3
Posted on 2/7/14 at 10:19 am to LSU1018
It's a very small amount, but the firm will report it to the IRS.
Posted on 2/7/14 at 11:27 am to Oenophile Brah
I'm pretty sure there is a dollar threshold for someone who is under 15 or so before they have to report it.
It's actually a pretty decent tax shelter up to a point to put some of your investments in your childs name.
It's actually a pretty decent tax shelter up to a point to put some of your investments in your childs name.
Posted on 2/7/14 at 11:32 am to TJG210
For unearned income that threshold is $950
Posted on 2/7/14 at 11:51 pm to LSU1018
Don't report it. The cost outweighs the benefit of doing that.
Posted on 2/8/14 at 6:22 am to LSU1018
If the account is in her name don't bother, it is well below the threshold and is not reportable.
If the account is in *your* name then it isn't your daughter's account and it is reportable as income to you. Go ahead and include it in your return but don't bother amending a past return, it isn't worth it. If the IRS cares (they probably won't) they'll just send a bill and charge a buck extra in interest and that's it.
If the account is in *your* name then it isn't your daughter's account and it is reportable as income to you. Go ahead and include it in your return but don't bother amending a past return, it isn't worth it. If the IRS cares (they probably won't) they'll just send a bill and charge a buck extra in interest and that's it.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News