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rlbradsher
New Member

My underage kids have a CD that earns interest one is for $60 and the other is $30, Do I claim this interest income on my return?

 
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DoninGA
Level 15

My underage kids have a CD that earns interest one is for $60 and the other is $30, Do I claim this interest income on my return?

No, you do not enter the dependent child's unearned income on your tax return.  If the child has unearned income of less than $1,050 and no other income they do not report the interest received on a tax return.

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DoninGA
Level 15

My underage kids have a CD that earns interest one is for $60 and the other is $30, Do I claim this interest income on my return?

No, you do not enter the dependent child's unearned income on your tax return.  If the child has unearned income of less than $1,050 and no other income they do not report the interest received on a tax return.

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