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What is proper way to included taxable interest of one of the accounts listed is actually owned by my daughter?

 
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PattiF
Expert Alumni

What is proper way to included taxable interest of one of the accounts listed is actually owned by my daughter?

In most cases, there is no need to report interest income that is reported in a child's SSN on 1099-INT. If the amount is under $1,100 for unearned income and that was their only source of income, it doesn't need to be reported on any tax return.

 

Here is a TurboTax help article with more information  on Reporting Interest for a Child if the unearned income from interest, dividends and capital gains is over $1,100.

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1 Reply
PattiF
Expert Alumni

What is proper way to included taxable interest of one of the accounts listed is actually owned by my daughter?

In most cases, there is no need to report interest income that is reported in a child's SSN on 1099-INT. If the amount is under $1,100 for unearned income and that was their only source of income, it doesn't need to be reported on any tax return.

 

Here is a TurboTax help article with more information  on Reporting Interest for a Child if the unearned income from interest, dividends and capital gains is over $1,100.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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