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.
Each T-account contains the firm's sources of funds on the right side and uses of funds on the left side. The first panel of table 4 shows the items from the income statement in table 2 rearranged in T-account form.