my daughter who is minor received 400$

[manishrecw]

my daughter who is minor received 400$ reward. do I need to include that in my taxes or does she needs to file it separately . and what are the threshold limits for including these type of rewards in taxes . No state tax as we live in Florida. thanks

[DawnC]

No, do not include it on your return.    She doesn't have to report it either.  The thresholds are below.  

Even if you're a dependent, you'll generally need to file your own 2023 tax return if:

• Your earned income (money you made by working) exceeds $13,850
• Your unearned income (interest, dividends, capital gains, etc.) exceeds $1,250
• Your business or self-employment net income (gross minus expenses) is at least $400
• Your gross income (earned plus unearned) exceeds the larger of $1,250 or your earned income (up to $13,450) plus $400

[manishrecw]

thanks. to confirm my understanding , please check if this is right?

1) I never need to report any income received as award by daughter

2) she will need to file her own tax return if prizes/award amount exceeds  1250 else just enjoy your reward

[DawnC]

Yes, that is correct.