Tax on youth account
Summary of User Inquiry and Solutions:
- The user is seeking information on the capital gains threshold required to file a tax return for a youth account.
- Fidelity suggests consulting with a tax professional to get accurate guidance, as the required amount can vary.
- Any capital gains will be reported on a 1099 form, which can be accessed through Fidelity’s website under “Accounts & Trade” and then “Tax Forms & Information.”
Here’s the full thread
How much does your capital gain need to be to file a tax return. (For a youth account)
Thanks for the question, @𝕊𝕀𝔻. We recommend consulting with a tax professional to confirm the specifics of the situation, as the amount can vary.
Please know that any gains will be reported on a 1099, which can be accessed by logging onto Fidelity.com and clicking “Accounts & Trade” and then “Tax Forms & Information.” 🟢