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.
The first categorization of accounts is whether the account is an asset account, liability account, equity account, income or expense account, cash account [edit]. In general, debits increase the left side, and credits increase the right side (of the equation: assets= liabilities + equity). Hence,