Series E and I Bonds redeemed in minors/childs name does the interest get reported to the Child's social or parent's social?

[cbusa]

When a minor has e and/or I bonds that are redeemed that are in the minors name does the interest get reported to the child's social or the parent's social?

[Bsch4477]

The individual whose name and social security number are associated with the bonds report the income assuming that they have a filing requirement. 

[Hal_Al]

For bonds cashed in 2023, a form 1099-INT will be issued in January 2024.  It will have the "recipient's" name and SS#.

A child usually files a separate return from his parents*. But, If his only income is from interest (including cashed  savings bonds) and dividends, Alaska PFD or capital gains distributions shown on a 1099-DIV, there is a provision for entering it on your return, using form 8814. In TurboTax, Enter at Less common income / Child's income.

*You do not, usually,  report his/her income on your return. If it has to be reported, at all, it goes on his own return. If your dependent child is under age 19 (or under 24 if a full time student), he or she must file a tax return for 2022 if he had any of the following:

1.          Total income (wages, salaries, taxable scholarship etc.) of more than $12,950 (2022).
2.          Unearned income (interest, dividends, capital gains, unemployment, taxable portion of 529 distribution) of more than $1150 (2022) ($1250 for 2023).
3.          Unearned income over $400 (2022) and gross income of more than $1150 (2022)
4.          Household employee income (e.g. baby sitting, lawn mowing) over $2300 ($12,950 if under age 18)
5.          Other self employment income over $432, including money on a form 1099-NEC

Even if he had less, he is allowed to file if he needs to get back income tax withholding. He cannot get back social security or Medicare tax withholding.

In TurboTax, he indicates that somebody else can claim him as a dependent, at the personal information section.

[Opus 17]

If the child's only income is interest and dividends, it can sometimes be reported on a parent's tax return.  If the child has any other kind of income, then all their income (including interest and dividends) must be reported on their own return.

However, even if the child's only income is interest and dividends, and if the amount is less than $2300, then the child will pay no tax if the child reports it on their own return, but the parent probably would pay tax.  If the amount is more than $2300, you may need to speak with a tax advisor or prepare some test returns to see which way is best to report it.

https://www.irs.gov/taxtopics/tc553