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Kiddie tax

Level 1

Tax client has 9 year old dependent child who received a 1099 with the following info:

Dividends = $700

Capital gains distribution = $30

Proceeds from sales of securities = $59,000

Cost of securities = $60,000

Short term loss = $1,000

Should I file a tax return for the child, include the info on parents return, or do nothing?


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