PattiF
Expert Alumni

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If your child's only income is unearned and doesn't exceed $1,100, it doesn't need to be reported. No return is needed for the child.

 

But, you also don't need to file a return for nine cents. The IRS guideline is to round amounts to whole dollars on a return. This amount would be rounded to zero and there is no requirement to file a return for these few cents. The IRS will not be looking for this amount to be reported. 

 

Here is an IRS Topic No. 533  on a Child's Investment and Other unearned Income when the income from the UTMA is higher.

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