How to handle 1099-Int and 1099-DIV for a custodial account

bmshah1 — Thu, 26 Feb 2026 01:55:10 GMT

I received a 1099-INT and a 1099-DIV for a custodial account for my son. Both forms are for the same account. The form clearly shows me as a custodian for my son. I am claiming my son as my dependent on my return. He is currently in an undergraduate study program that he started last fall.

He earned some income last year through a summer internship. The income was <$3,400 well below the IRS threshold to file but he is still planning to file a return this year to get back the federal tax that was withheld from his paycheck. He is going to check the box that "someone can claim him as a dependent on their return" when filing. My question is who should be showing the 1099-INT and 1099-DIV on their returns. Is it me as a parent or is it him?

Re: How to handle 1099-Int and 1099-DIV for a custodial account

Bsch4477 — Thu, 26 Feb 2026 02:52:14 GMT

The interest and dividends are reported on his return. An amount over $2,700 would be subject to Kiddie Tax.

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How to handle 1099-Int and 1099-DIV for a custodial account

Re: How to handle 1099-Int and 1099-DIV for a custodial account