Children's CD earned interest

[bachkerr3]

We have a 10, 8 and 6 year old that earned interest on a CD each totalling 209.69 - do I report this - do they file a tax return?

[SeanE1 · Accepted solution]

No, you will not have to report that amount of unearned income because it is not over the IRS threshold of $1,050.  I have included a Link to an article that discusses children's earned and unearned income and when a tax return is required:

https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/Tax-Filing-Requirements-for-Children/I...

[bachkerr3]

Thank you!

[SeanE1]

You're very welcome!