Hello all:
Clinet has dependant son 13 yrs old, income of $1,428 on box 5 no tax withheld, how should I report it.
Clinet has dependant son 13 yrs old, income of $1,428 on box 5 no tax withheld, how should I report it.
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Why
would you report social security income for an individual with no other taxable income? -
To be clear - is the SSA 1099 form in the parent's name and SSN# or is the SSA 1099 form issued in the dependent son's name and SSN# - Look at Box 2not Box 8 Claim #
Depending - you could read more at Pub 915 and Tax Topic 423 - You have to determine who has the "legal right" to receive the SSA Benefit.
If the parent - and Parent SSN# then report with the Parent's income
Generally speaking, if in the child's name and SSN, due to a claim under a Parent Disability, or Parent reaching retirement Age, or a Parent Deceased, the child can receive the SSA benefit, and it could be the benefit would be not reportable (requiring a tax return) This of course would depend on the Child's Other Income and whether or not there is a filing requirement.
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