If a 13-year-old has earned income of $500 and interest and dividends of $2,500,all of the income can be reported on the parent's return.

Question

Quizplus · Accepted Answer

The earned income of $500 can be reported on the parent's return, but the interest and dividends of $2,500 must be reported on a separate tax return for the 13-year-old, as it exceeds the limit for which a child's investment income can be reported on their parent's return.

If a 13-Year-Old Has Earned Income of $500 and Interest