Message Font: Serif | Sans-Serif
No. of Recommendations: 0

For this year's stock losses, file Form 1040 with Schedule D. If he can't use the losses this year because he doesn't have enough income, there is a worksheet to fill out which will allow him to carry the losses forward until such time that he can use them.

As to your past filing practices... You may want to amend your returns for the past three years. You can never include your son's gains or losses on your return. Under certain circumstances, you can include a minor's dividend and interest income on your return using Form 8814, but these only apply to a minor under age 14. Your son should have been filing his own returns (if he had sufficient income or needed to establish carryovers).

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.