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February 4, 2024
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Do I need to add the interest from my childs savings account?

  • February 4, 2024
  • 1 reply
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I have a savings account for my child in her name as the primary. Do i need to add the interest she received into her account on my tax form?
Best answer by DoninGA

If the interest earned on the child's account was $1,250 or less you do not need to enter the interest earned by the child on your tax return.

1 reply

DoninGA
DoninGAAnswer
Employee
February 4, 2024

If the interest earned on the child's account was $1,250 or less you do not need to enter the interest earned by the child on your tax return.