Reply To: parent with taxable Betterment – need tax returns?

Home Fairmark Forum Retirement Savings and Benefits parent with taxable Betterment – need tax returns? Reply To: parent with taxable Betterment – need tax returns?

#4919
kaneohe
Participant

p.6 on this Pub 17 for 2009 gives a chart for when you must file. You can google each yrs Pub 17 to find the thresholds for each yr. The 2019 version suggests you may not need to file if income is 12K and parent is single and not a dependent. Be sure to read the footnotes esp re: SS.

The thresholds have increased over time so it is possible that earlier filings were required.

Since income is near threshold and at low rates, leaving account alone might be better than transfer to you and higher rates.