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 simplest general ledger is referred to as a âT-Accountâ since its depiction resembles an upper case âT.â The account name appears at the top of a sheet that is then divided into two columns. Debits always appear in the left column while credits always appear on the right side.