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.
As the term credit relates to accounting, Bookkeeping Basics explains that the credit column is the right side of a ledger, and it records the payments to an account. The debit column is on the left side, and it records the expenses and debts to an account.