Do I need to report my child's 1099-INT on my return?
In most cases, no. If your dependent child made less than $1,050 in interest, dividends, and capital gains distributions combined, and that was their sole source of income, the child's income does not need to be reported on any tax return.
Otherwise, here's how to enter your child's 1099-INT:
- Sign in to TurboTax and select Take me to my return.
- Click and search for child income.
- Select the Jump to link.
- We'll ask a series of questions to determine if their income needs to be reported on a tax return. It's your option to report it on your return or their return.
Note: If the child's income is $10,500 or more, it must be on the child's tax return. It can't be included on the parents' tax return.