The dependent minor was the primary account holder with parent as joint account holder. The minor will therefore receive the 1099-INT.
The account was a short term, high interest CD that paid $515 in interest (The account is now closed).
The child had no other income.
Because this unearned income is less than the threshold ($2,200), the child does not need to pay taxes.
However, since this is a joint account with a parent;
1. Does the parent need to show what part of the money belongs to the child/parent?
2. Is the parent required to pay taxes on the parent's share of the interest?
