In general, in 2020 the first $1,100 worth of a child's unearned income is tax-free. The next $1,100 is taxed at the child's income tax rate for 2020 (10%), so $111 tax sounds correct.
Click this link for more info on Form 8615.
You can include your child's income on your return under certain conditions.
This link gives info Reporting Child's Income on Parent's Return.
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