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Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Experience:  3+ decades of varied tax industry exp. Tax Biz owner
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MY SON RECIEVED A 1099-R CODE 4 AND HE IS ONLY 7YEARS OLD

Customer Question

MY SON RECIEVED A 1099-R CODE 4 AND HE IS ONLY 7YEARS OLD DOES HE HAVE TO FILE
Submitted: 10 months ago.
Category: Tax
Expert:  Tax.appeal.168 replied 10 months ago.

Q: MY SON RECIEVED A 1099-R CODE 4 AND HE IS ONLY 7YEARS OLD DOES HE HAVE TO FILE

A: Likely not, what is the taxable amount in box 2 of the Form 1099-R?

Customer: replied 10 months ago.
11,232.00
Customer: replied 10 months ago.
r u there
Expert:  Tax.appeal.168 replied 10 months ago.

If $11,232 is the taxable amount, a tax return would have to be filed for your son in his name. You can't report this income on your return. Refer to the following IRS webpage for more detailed information relating to when a dependent has to file a tax return.

https://www.irs.gov/publications/p929/ar02.html#en_US_2015_publink1000203743

Click on the unearned income link.

Let me know if I can be of further assistance to you regarding this matter.

Expert:  Tax.appeal.168 replied 10 months ago.

I will be leaving the computer shortly. If you require additional info, I will need to get back to you in the a.m. On the other hand, if you do not need further info, please be so kind as to positively rate my response so that I may receive credit for assisting you.