If your child meets all of the following conditions, you can claim your child's interest or dividends on your return:
- The child was under age 19 (or under 24 if a full-time student) at the end of 2019.
- The child's only income was from interest and dividends, including capital gain distributions and Alaska Permanent Fund dividends.
- Their gross income for 2019 was less than $11,000
- The child is required to file a 2019 return
- The child does not file a joint tax return for 2019
- There were no estimated tax payments for the child for 2019 (including any over payment of tax from his or her 2018 return applied to 2019 estimated tax)
- There was no federal income tax withheld from their income
Keep in mind that you as a parent must also qualify to make this election. You qualify for this election if you file Form 1040, Form 1040-SR and any of the following apply to you:
- You are filing a joint return for 2019 with child's other parent
- you and the child's other parent were married to each other but file separate returns for 2019 and you had the higher taxable income
- Were unmarried, treated as unmarried for federal income tax purposes, or separated from the child's other parent by a divorce or separate maintenance decree.
Review the Instructions for Form 8814