"Christofori" <isaacpark[at]yahoo.com> wrote:

- quote -

Separate filing. You don't have a choice.

Ira Smilovitz

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"Christofori" <isaacpark[at]yahoo.com> writes:

- quote -

It can't.

- quote -

It must.

Only if the dependent's income is all interest and dividends
(and maybe capital gain distributions -- I haven't checked)
do you have the option to include his income on your return.
However, you will never be better off doing this even if
you are able to.

If there's an actual sale of securities, the dependent must
file his own return.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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"Christofori" <isaacp...[at]yahoo.com> wrote:

- quote -

You can claim your children's interest and dividends, but
not their capital gains. If the gross proceeds were more
than $850, they will have to file their own returns.

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"Christofori" <isaacp...[at]yahoo.com> wrote:

- quote -

Capital gains and losses are reported on the tax return of
the person realizing those gains and losses. This is true
even for parents of a minor child.

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"Christofori" <isaacpark[at]yahoo.com> wrote:

- quote -

If a Schedule D, line 1 or 8, transaction is involved, it
must go on the dependent's return. If the only thing
involved is mutual fund cap gain distributions and "Kiddie
Tax" applies, you can elect to include the child's income on
your return.

See the 1040 instructions.

--
Phil Marti
Clarksburg, MD

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I was wondering that my dependant's capital gain or loss can
be claimed as my gain or loss or should the capital gain or
loss be realized through the seperate filing?

Thanks in advance.

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