My 18 year old received a 1099 after I already filed and claimed his interest on my tax return

[Stefanilynn77]

Hello, 

My son turned 18 in August of 2024 and is a Senior in high school. He received a 1099 for the interest on his savings account but my husband and I already filed our return and claimed his interest on our taxes using schedule B. Do I need to amend and file a 8814? Or do I amend and remove his interest completely and have him file his own? I’m so confused. I don’t want him to be in trouble for not filing if he has to

[KrisD15]

No if the interest was 1,300 or less and he earned no other income. 

(although he turned 18, he would still be considered as your dependent since he was a student for at least part of at least 5 months and also did not supply more than half his own support) 

If this was the case, you needn't amend nor have the dependent file.

If this was not the case, please clarify by adding to this thread. 

Please see Pub 501 Table 2 2024 Filing Requirements for Dependents for more information 

[Stefanilynn77]

His interest was 1498 but he had no other income

[MonikaK1]

Because your dependent son had unearned income (interest) of more than $1,300, as pointed out by @KrisD15, he is required to file a tax return. If preparing the return in TurboTax, be sure to indicate that he can be claimed as a dependent.

Single dependents (unless they are over 65 or blind) are required to file a return if any of the following apply :

• Their unearned income was more than $1,300.
• Their earned income was more than $14,600.
• Their gross income was more than the larger of:
  • $1,300, or
  • Their earned income (up to $14,150) plus $450.

See this TurboTax tips article for more information about who is required to file a tax return.

@Stefanilynn77