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URL:  http://boards.fool.com/actually-there-may-be-if-the-children-are-under-23612651.aspx

Subject:  Re: Loss of Job Date:  1/26/2006  12:16 PM
Author:  ptheland Number:  83032 of 121252

Actually, there may be. If the children are under age 14 and the income is only interest, dividends, and/or capital gains distributions (but not capital gains from sales of fund shares), the parent can elect to report the income on his return. It's usually better for the kids to report separately, but not always.

Ok. Once again I stand corrected.

--Peter

PS - I'm having a hard time thinking of any situations where it makes sense for the parent to report the income other than problems with low income - lots of deductions that are being wasted dragging taxable income below zero. Although a mutual fund with lots of cap gain distributions and a parent with a big cap loss carryover might apply at any income level.
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