Got 1099-DIV (<$1000) for UTMA acct for grandchild, in child's SSN. Not my dependent. Do I or child's parent need to include 1099 on return? Child has no other income.

I know at some point it becomes taxable, and assume parent has to file for child or include on their return then. My question is does anyone have to report it now if it's less than $1100 ?

Expert Alumni

Jan 31, 2022 11:23:05 AM

There is no need to report the income if it is less than $1100. Here is more information about the income of a dependent.

Why sign in to the Community?

Got 1099-DIV (<$1000) for UTMA acct for grandchild, in child's SSN. Not my dependent. Do I or child's parent need to include 1099 on return? Child has no other income.