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JD6
New Member

I cashed in some savings bonds for my daughter's college tuition. Some of the bonds I purchased were in my daughter's name, some in mine. We both got 1099-int. What doIdo

 
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DawnC0
Intuit Alumni

I cashed in some savings bonds for my daughter's college tuition. Some of the bonds I purchased were in my daughter's name, some in mine. We both got 1099-int. What doIdo

You will enter the 1099-INT forms that are in your name on your return.  

Your daughter's 1099-INT forms may or may not have to be reported.  Does she have to file a return?  In most cases, no. If your dependent child made less than $1,100 in interest, dividends, and capital gains distributions combined, and that was their sole source of income, the child's income does not need to be reported on any tax return.

If the child earned over $1,100, simply open your return, search for child income, and then click the "Jump to" link in the search results. We'll ask a series of questions to determine if their income needs to be reported on a tax return. It's your option to report it on your return or their return if it does, in fact, have to be reported.

Note: If the child's income is $12,200 or more, it must be on the child's tax return. It can't be included on the parents' tax return.

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2 Replies
DawnC0
Intuit Alumni

I cashed in some savings bonds for my daughter's college tuition. Some of the bonds I purchased were in my daughter's name, some in mine. We both got 1099-int. What doIdo

You will enter the 1099-INT forms that are in your name on your return.  

Your daughter's 1099-INT forms may or may not have to be reported.  Does she have to file a return?  In most cases, no. If your dependent child made less than $1,100 in interest, dividends, and capital gains distributions combined, and that was their sole source of income, the child's income does not need to be reported on any tax return.

If the child earned over $1,100, simply open your return, search for child income, and then click the "Jump to" link in the search results. We'll ask a series of questions to determine if their income needs to be reported on a tax return. It's your option to report it on your return or their return if it does, in fact, have to be reported.

Note: If the child's income is $12,200 or more, it must be on the child's tax return. It can't be included on the parents' tax return.

View solution in original post

DawnC0
Intuit Alumni

I cashed in some savings bonds for my daughter's college tuition. Some of the bonds I purchased were in my daughter's name, some in mine. We both got 1099-int. What doIdo

Please see answer above..
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