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Tax Question...kids pfd's #9579068 02/05/15
Joined: Nov 2006 Posts: 857 Anchorage, Alaska Wook OP Campfire Regular
OP Wook Campfire Regular Joined: Nov 2006 Posts: 857 Anchorage, Alaska	Where do I enter my kids' pfd + bank account interest in turbo tax?? I'm assuming they have to pay taxes on the pfd. Do I just enter it as another 1099-MISC on MY return?? Any help??

GB1

Re: Tax Question...kids pfd's Wook #9579110 02/05/15
Joined: Mar 2007 Posts: 56 AK G GoZags Campfire Greenhorn
GoZags Campfire Greenhorn G Joined: Mar 2007 Posts: 56 AK	Form 8814 I believe. Or they can file their own returns.

Re: Tax Question...kids pfd's Wook #9579370 02/06/15
Joined: Jan 2005 Posts: 12,359 VA kid0917 Campfire Outfitter
kid0917 Campfire Outfitter Joined: Jan 2005 Posts: 12,359 VA	under a certain amount (? 1300-1400 something like that for last year).... the child's PFD income is passive and not subject to any tax, I am thinking. I know PFD amount varies each year, and also the limit for tax free passsive income can change each year.. I don't know about the bank interest at all...

Re: Tax Question...kids pfd's Wook #9581860 02/06/15
Joined: Feb 2001 Posts: 7,985 Eagle River Alaska K kk alaska Campfire Outfitter
kk alaska Campfire Outfitter K Joined: Feb 2001 Posts: 7,985 Eagle River Alaska	I enter it Misc 1099 kk alaska Alaska 7 months of winter then 5 months of tourists

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