https://ttlc.intuit.com/community/taxes/discussion/minor-income/01/3460616#M1292553 <P>My minor daughter, 13, who is my dependent, has earned interest on her savings account.&nbsp; The savings account is a custodian account with me as the main account holder.&nbsp; I was told by my bank that the 1099 will be filed under her SSN.&nbsp; The interest is $200.&nbsp; Do I need to include this on my tax return?&nbsp; Does she need to file taxes herself for the interest (she has no other income)?</P> Wed, 05 Feb 2025 18:32:08 GMT Mnhr777 2025-02-05T18:32:08Z https://ttlc.intuit.com/community/taxes/discussion/minor-income/01/3460616#M1292553 <P>My minor daughter, 13, who is my dependent, has earned interest on her savings account.&nbsp; The savings account is a custodian account with me as the main account holder.&nbsp; I was told by my bank that the 1099 will be filed under her SSN.&nbsp; The interest is $200.&nbsp; Do I need to include this on my tax return?&nbsp; Does she need to file taxes herself for the interest (she has no other income)?</P> Wed, 05 Feb 2025 18:32:08 GMT https://ttlc.intuit.com/community/taxes/discussion/minor-income/01/3460616#M1292553 Mnhr777 2025-02-05T18:32:08Z https://ttlc.intuit.com/community/taxes/discussion/re-minor-income/01/3460633#M1292554 <P>No, if this is her only income, neither of you need to report it. &nbsp;Children who have unearned income, such as interest, are not subject to tax on it until it exceeds $2,600.&nbsp;<BR /><BR />Source:<A href="https://www.irs.gov/taxtopics/tc553" target="_blank"> IRS Topic 553</A></P> Wed, 05 Feb 2025 18:36:10 GMT https://ttlc.intuit.com/community/taxes/discussion/re-minor-income/01/3460633#M1292554 SusanY1 2025-02-05T18:36:10Z