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Level 2
February 3, 2025
Question

non-dependent children

  • February 3, 2025
  • 3 replies
  • 3 views

I have 2 non-dependent great grandchildren, both under 9yrs. I have a small savings account for each one with a 1099int below $20. Do I need to file their 1099int?

    3 replies

    CatinaT1
    Level 15
    February 3, 2025

    No. If the interest reported on the 1099INT is listed under the child's name and social security number and this is the only income they have, they have no filing requirement. Additionally, you would not include this income on your return if the form lists the child's social security number.

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    Mike9241
    Level 15
    Level 15
    February 3, 2025

    whose social security number is on the 1099 forms? if it's the children you probably should give the forms to the parents because if the kids need to file that income will need to be included in their returns. 

    Mike9241
    Level 2
    February 3, 2025

    Thank you, That Makes it much simpler!