There are a lot of nuances on how it could impact your taxes and/or his taxes. First, no matter what, he’ll need to file a tax return (if he’s not already doing so). Assuming he’s in high school, he may be working and filing one anyway – and you would need to include any investment gains/losses on his return.

You could be subject to the Kiddie Tax if he earns more than $2,200 in capital gains/interest (unearned income). Children pay their tax rate on any unearned income up to that threshold (which could be 0% – see capital gains tax brackets here), and above that, they pay their parent’s highest tax bracket amount, regardless if it’s higher than the child. At this point, again, it doesn’t impact YOUR taxes, only the child’s return.

Now, you can have it affect your taxes by electing to claim it. You can file Form 8814, Parent’s Election to Report Child’s Interest and Dividends, and now your child is treated as having no gross income for the year and is not required to file a return (unless they have other income).

As you can see, you can make it more complicated – you should talk to a tax professional to see if it makes sense to. But for most people, just having their child file their own return is the easiest – and it doesn’t impact your taxes at all.

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