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Does this kid need to file a return?


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Ugh, ugh.  So I get the kid's statements mixed up all in with dad's.  Kid has $109 in dividend income and two stock sales.  Stock sales are a total of $1083 in proceeds, sold for a loss all Box A.

Someone please tell me I don't have to file the kid's return.

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If the proceeds are reported, I doubt it.  A client sends me their granddaughter's brokerage statement mixed in with their stuff.  In 2020 she had $200 in dividends and $2700 in proceeds w/ a $6 loss.  In 2019 she had $150 in dividends and $3600 in proceeds w/ a $32 loss.  I didn't prepare a return for her either year and they haven't heard from the irs about it.  I'm assuming the irs computer would have spit out a letter by now. 

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