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Level 2
April 6, 2021
Question

Unearned income? Is a long term gain on the sale of a stock, of a 23 year old student dependent, considered unearned income applicable and allowable to the transfer to their parents income tax return?

  • April 6, 2021
  • 2 replies
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Unearned income? Is a long term gain on the sale of a stock, of a 23 year old student dependent, considered unearned income applicable and allowable to the transfer to their parents income tax return?

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2 replies

Just-Lisa-Now-
Intuit Community Champion
April 6, 2021
investment income is unearned income, yes.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
BobKamman
Level 15
April 6, 2021

But you can't report stock sales on the parents' return.  Form 8814 allows only interest and dividends, including capital gain distributions.