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Small interest income only

Sorry if this is a repeated topic, but I did not find anything quite like this scenario.

 

My 18yr old has no actual income from a job, but received a 1099-int from his bank for $10.55 in interest income. That is his only income for 2023.

 

Does he need to file a return just for that??

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1 Best answer

Accepted Solutions
xmasbaby0
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Small interest income only

No.  He does not have to file a tax return for that. And it does not go on your return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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1 Reply
xmasbaby0
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Small interest income only

No.  He does not have to file a tax return for that. And it does not go on your return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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