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Does my 9 year old have to pay taxes on interest income?
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My 9 year old received a combined tax statement for 2010, (FORM 1099-INT, INTEREST INCOME) for just over $82. As he obviously doesn't work, and has no income, does he truly need to pay taxes on this (or rather, do I have to pay taxes on this)? This was a CD set up for his education, but was not...
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