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New Member

I claim my son as a dependent, he received 1099-INT for interest on savings bonds used to pay college tuition. Does he claim this amount or do I and where does it go?

 
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Level 4

I claim my son as a dependent, he received 1099-INT for interest on savings bonds used to pay college tuition. Does he claim this amount or do I and where does it go?

You can elect to claim your son's income on your own tax return if his interest income is less than $10,500, he made no estimated tax payments during the year, and he had no income tax withheld at the source, parents can generally elect to claim his investment income on their own return.

Please follow the directions below to enter your son's 1099-INT in TurboTax:

  1. Open (continue) your return in TurboTax.
  2. In the search box, search for 1099-INT (upper- or lower-case, with or without the dash) and then click the "Jump to" link in the search results.
  3. Answer Yes when asked if you received any interest income. Savings Bond interest goes in box 3.


If the “jump to” is not working, click on the following tabs:

  • Federal Taxes
  • Wages & Income
  • I’ll choose what I work on
  • Scroll down to Interest and Dividends
  • Select Interest on Form 1099-INT, click Start, Update or Revisit to the right of this category (see image below)
  • Follow the screens to enter the 1099-INT. Savings Bond interest goes in box 3.
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New Member

I claim my son as a dependent, he received 1099-INT for interest on savings bonds used to pay college tuition. Does he claim this amount or do I and where does it go?

For my 11yr old daughter who has a 1099-INT of $189, the "Learn More" notes under "Wages & Income", "Interest and Dividends", "Interest on 1099-INT" are telling me not to input her 1099-INT here. 

 

But under "Wages & Income",  "Less Common Income", "Child's Income" it's telling me I need to file a separate tax return for my 11yr old daughter who has a 1099-INT for $189.   Is this correct, or is there somewhere I can input this on my return?  Thanks

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Expert Alumni

I claim my son as a dependent, he received 1099-INT for interest on savings bonds used to pay college tuition. Does he claim this amount or do I and where does it go?

For your 11 year old dependent daughter, you do not need to put her investment income on your tax return, and she does not need to file a tax return for only $189 of interest income.

 

Only when your child's unearned (e.g., interest or investment) income exceeds $1,100 does she need to either file a separate tax return or report the income on your tax return using Form 8814.

 

See the TurboTax article at this link for more information on the tax return filing requirements for childre....

 

Table 2 from IRS Publication 501 has the rules for when a dependent must file a tax return.

 

@mbularz

 

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