@DJS,
Thank you for your answer. As I explained in my original post:
1. This was a joint (not custodian) account.
2. The child was the primary account holder with parent as joint account holder.
3. The child will receive the 1099-INT.
4. The interest amount was $515 (from a CD) and no other unearned income for the child, so the child does not need to pay tax on the interest.
Again, how should this be handled:
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? How?
