No, you do not report it on your tax return, and if this is the only income your grandchildren have,they don't need to file tax returns and report it. The filing requirement for dependents are:
- Your earned income (money you made by working) exceeds $12,200
- Your unearned income (interest, dividends, capital gains, etc.) exceeds $1,100
- Your business or self-employment net income (gross minus expenses) is at least $400
- Your gross income (earned plus unearned) exceeds the larger of $1,100 or your earned income (up to $11,850) plus $350
But even if your income falls below these filing requirements, you'll want to file your own tax return to get a refund of any federal or state taxes withheld from your paychecks.
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