I try to make your numbers work but could not come up with a definitive explanation. Is there a Form 8863 as part of your return?
Taxable portions of 529 distributions are considered unearned income. If your son does have $4142 of unearned income, he would need to file a return. He would also be subject to the kiddie tax given his age, full time student status and lack of earned income.
Taxable portions of 529 distributions are considered unearned income. If your son does have $4142 of unearned income, he would need to file a return. He would also be subject to the kiddie tax given his age, full time student status and lack of earned income.
Statistics: Posted by Katietsu — Sat Mar 16, 2024 10:13 pm — Replies 4 — Views 194