Do I need to add a 1099-INT for a dependant child who earned $145 interest in their savings account?

I have received the 1099-INT from the bank. TurboTax only gives me the option to put the 1099-INT under either my husband, me, or both of us, so I'm wondering what I do?

332

Expert Alumni

Jan 26, 2021 10:14:57 AM

No, you do not need to add your dependent child's 1099-INT for $145 interest if that was your dependent's only income.

Level 2

Oct 15, 2023 11:50:13 PM

Thanks. Does this apply to the state (California) as well?

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Do I need to add a 1099-INT for a dependant child who earned $145 interest in their savings account?