To report your child's income on your return, simply follow these instructions and we'll apply the Kiddie Tax calculations. Related Information: What is the Kiddie Tax?
T Accounts The simplest account structure is shaped like the letter T. The account title and account number appear above the T. Debits (abbreviated Dr.) always go on the left side of the T, and credits (abbreviated Cr.) always go on the right.
1. An entry in an account that represents an increase in the value of assets or a decrease in the amount of liabilities. It is conventional to make debit entries on the left-hand side of a written record of an account. Compare âcreditâ.