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.
A T account is a graphic representation of a general ledger account. The name of the account is placed above the T (sometimes along with the account number). Debit entries are depicted to the left of the T and credits are shown to the right of the T.The grand total balance for each T account appears at the bottom of the account.he T account is a fundamental training tool in double entry accounting, since you need to see how one side of an accounting transaction is reflected in another account. This approach is not used in single entry accounting, since only one account is impacted by each transaction.