It depends. The income belongs to the dependents, so whether it will be entered on your tax return, on their own tax return or not at all depends on the amount. To determine if they are required to file here are requirements.
Tax requirements for dependent children are different from those of other taxpayers.
- A dependent child who has earned more than $15,750 of earned income (tax year 2025) typically needs to file a personal income tax form. Earned income includes wages, tips, salaries, and payment from self-employment.
- A dependent child who receives more than $1,350 in investment income in 2025 is required to file a tax return. If it is below this amount then there is no need to file for the dependent.
- Investment income includes interest and dividend payments, as well as sale or redemption (sale) of stocks or bonds.
- If your child’s investment income consists only of interest and dividends, you can use IRS Form 8814 to include it on your own return and combine it with your own income. Doing this may push you into a higher tax bracket and result in higher income tax than if you prepare a separate return for your child.
- Review this link for further and more clarifying details. Tax Filing Requirements for Children
If they are below the filing threshold, then you will keep the K1s and 1099-INTs in your tax files should you need them later on for any reason. Please update with additional details and we can provide more direct guidance for you.
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