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Level 2
January 26, 2022
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What is proper way to included taxable interest of one of the accounts listed is actually owned by my daughter?

  • January 26, 2022
  • 1 reply
  • 21 views
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    Best answer by PattiF

    In most cases, there is no need to report interest income that is reported in a child's SSN on 1099-INT. If the amount is under $1,100 for unearned income and that was their only source of income, it doesn't need to be reported on any tax return.

     

    Here is a TurboTax help article with more information  on Reporting Interest for a Child if the unearned income from interest, dividends and capital gains is over $1,100.

    1 reply

    PattiFAnswer
    Level 15
    January 26, 2022

    In most cases, there is no need to report interest income that is reported in a child's SSN on 1099-INT. If the amount is under $1,100 for unearned income and that was their only source of income, it doesn't need to be reported on any tax return.

     

    Here is a TurboTax help article with more information  on Reporting Interest for a Child if the unearned income from interest, dividends and capital gains is over $1,100.

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