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R. Klein, EA
R. Klein, EA, Enrolled Agent
Category: Capital Gains and Losses
Satisfied Customers: 263
Experience:  Over 20 Years experience in resolving tough tax cases
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I'm preparing my special needs son's taxes. , he re

Customer Question

I'm preparing my special needs son's taxes. For 2015, he received $8200 in social security. + $900 in capital gains from a small special needs grantor type trust fund. The amounts are such that he would not file a return but the 1041 from the trust is filed as an entity only with the requirement that the gains be reported on the grantor's individual return. Should I file my son's return or not?
Submitted: 10 months ago.
Category: Capital Gains and Losses
Customer: replied 10 months ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 10 months ago.
Don't need the phone call; just fiddling around exploring.
Expert:  levr replied 10 months ago.
Can you specify what amounts are reported on K1 ?ONLY $900 in capital gains ?Or there are other reporting?Do you claim your son as a dependent?
Expert:  levr replied 10 months ago.
Let me know if you still need any help.