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Children's CD earned interest
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?
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:
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