2019 Limits for Minor 1099-INT

Forum|Forum|6 years ago
February 6, 2020
2 replies
16 views

What are the 2019 limits for determining whether a minor must file their own tax return for unearned income on a 1099-INT?

Best answer by DoninGA

Unearned income of more than $1,100. Or you can file a Form 8814 to enter the child's unearned income on your tax return

DoninGA

Answer

Level 15

Unearned income of more than $1,100. Or you can file a Form 8814 to enter the child's unearned income on your tax return

lneil06

Level 2

My 17 year old son filed taxes this year - because someone told him his income is exempt from all taxes.

He filled only using a W2 from one of the companies he worked for. The second place he worked for sent him a 1099-MISC- showing he had nonemployee compensation of $615.00

He also failed to include 1099-int for $17.77

Does he need to refile his taxes or can this be added to next years income ?

DeanM15

Level 10

Your son needs to file an amended return.

You will need to wait until the IRS has accepted the original return before filing the amendment. If there was a refund, wait until it is received before filing the amended return. If you owed the IRS money, then wait for the payment to clear.

For TurboTax Online, simply login to your account and select “Amend a return that was filed and accepted.” If you used our CD/download product, sign back into your return and select “Amend a filed return.

You can find out more about amending a return here.

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