You dug up old information. The amount is now $4700 of income. (not $4300) That refers to any income OTHER than Social Security income. So....as stated to you, the few dollars of interest do not exceed $4700, and does not interfere with the adult child claiming them. These "elderly" people are not required to file a tax return. The parents did not have enough income to be required to file a tax return. Not a joint return. Not separate returns.
The adult child who claims them gets a $500 credit for other dependents on their own return, which reduces their own tax liability.
This is what the adult child gets:
https://ttlc.intuit.com/questions/4499708-what-is-the-500-credit-for-other-dependents-family-tax-cre...
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
