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- Re: Where to enter Section 199A Dividends and Foreign Tax for a CHILD
Where to enter Section 199A Dividends and Foreign Tax for a CHILD
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Lorendac
Level 1
06-14-2021
11:11 PM
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I see the section on the Parent's Election 8814 to enter a child's 1099-DIV information. However, I don't see a spot to enter Section 199A Dividends (Box 5 on the 1099-DIV) or Foreign Taxes (Box 7 on the 1099-DIV) on these dividends on this form.
Where do these get entered?
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George4Tacks
Level 15
06-18-2021
05:27 PM
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Notice this at the top of the form Caution: The federal income tax on your child’s income, including qualified dividends and capital gain distributions, may be less if you file a separate tax return for the child instead of making this election. This is because you cannot take certain tax benefits that your child could take on his or her own return. For details, see Tax benefits you cannot take in the instructions.
Maybe filing a separate return for the child would be a more economic approach in your case.
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