How to Claim a Dependent's 1099-INT From Savings Bonds

Depending on the situation, a parent or guardian might be able to claim a child’s interest income on their own income tax return, sparing the child the need to file a return. The child must be under 19 -- or under 24 if he's a full-time student; have gross income of less than $9,500 (as of 2012); and have income consisting only of interest or dividends. In addition, he must have paid no federal income taxes during the year. If your dependent meets all of the guidelines, you can claim his interest income on your own tax return.

Download Form 1040 and Form 8814 from the Internal Revenue Service website.

Complete Form 8814 using the information from your child’s Form 1099-INT. You should receive this form from the U.S. Department of Treasury.

Transfer the taxable amount of your child’s interest to the line labeled “Other Income” on Form 1040. Write “Form 8814” in the blank field.

Include the tax amount listed on the final line of Form 8814 on the line labeled “Tax” on your Form 1040. For example, if your child owes $50 in taxes from Form 8814 and your tax is $1,000, write $1,050 in the line labeled “Tax” on Form 1040. Check the box labeled “Form 8814” to let the IRS know that you added tax from Form 8814.


About the Author

Angela M. Wheeland specializes in topics related to taxation, technology, gaming and criminal law. She has contributed to several websites and serves as the lead content editor for a construction-related website. Wheeland holds an Associate of Arts in accounting and criminal justice. She has owned and operated her own income tax-preparation business since 2006.