helpme asked:


kids currently get $850 investment income without taxes. If this year that make only 50 in dividends and cap gain distributions, but stock price went up equivalent to $1000, can I declare (850-50) or $800 in captital gains? Effectively increasing the basis. This of course would get me to 850 total investment income. The next question would be can I then not file a tax form since I’m below 850? Thanks