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.
Debits. 1  Record debits on the left side of an account. 2  Debits increase as credits decrease. 3  Record debits as positive numbers. 4  Debits increase asset and expense accounts. 5  Debits decrease liability, equity, and revenue accounts.