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My daughter received a 1099-int for a saving account we established for her. She is 11. Interest income is $2.85, Fed tax withheld $0.69. Do we need to file this?

 
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2 Replies
jeffrey17
New Member

My daughter received a 1099-int for a saving account we established for her. She is 11. Interest income is $2.85, Fed tax withheld $0.69. Do we need to file this?

The threshold for unearned income for a child is $1,100. She is not required to file a return.

DavidD66
Expert Alumni

My daughter received a 1099-int for a saving account we established for her. She is 11. Interest income is $2.85, Fed tax withheld $0.69. Do we need to file this?

As stated by jeffrey17, your daughter is not required to file a tax return.  Neither is it necessary for you to claim the investment income on your tax return. 

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