1099B college student

[bekzm]

A college student - well the parents - cashed in stock for her college which was the college student for years in the amount of $6650. But the cost basis is more than what the cost is which will result in a loss. Will the loss go on the parents or the college student who did not work - I thought I remember reading that since it is a loss - it will be recorded on the college students tax return in case the loss can be carried over for next year if she works the next year. Did I dream it since it is tax season and February almost March.
Thanks

[S T]

1099b

1099B capital gain/loss or 1099 INT/DIV, follows the social security number.

So it should be reported on the student's return if that is the SS# issued in.

Don't forget to check on the form 8615 form if there is any investment income more than $1800.

Sandy

[bekzm]

Thank you

Thanks - I was going to do it under the daughters SS# but tired and wasn't thinking too much. But there is no other income on it just the sale.