Kid tax and account question

need4buck

My son has over $1400 in dividends this past year. This is the first year I'm doing taxes myself and am glad I've found FTUSA. Do I need to set up a separate account here in order to file his taxes? Or is there an option to create another "within the family" tax return under just my account?

Thank you!

KeriC

@needabuck
You can either include your child's investment income on your return or file a separate return for your child—both options are acceptable. If you decide to include it on your tax return, and if your return has already been filed, you will need to amend your return to add your child's investment income.

There are circumstances in which it may need to be entered on the child's own return. For more information on whether or not this amount of investment income needs to be reported, please see: https://www.irs.gov/taxtopics/tc553

We don't have a way to associate family accounts. Each separate return does require a different account with a unique username.