How to handle missing 1099-INT for my newly 18-year-old's bank account?

This is the first time our family is dealing with significant bank interest that requires 1099-INT forms. While I received a 1099-INT from our main bank covering all our accounts, my son's account is missing from the form even though I can still access it as an authorized user. Some background: My oldest turned 18 in mid-2023, and his youth account automatically converted to a regular account with him as the primary owner. I'm still an authorized user, and his account appears in my online banking dashboard alongside my other accounts. The bank issued me a 1099-INT that includes interest from all our accounts (most checking accounts earned like $3 in interest) except his. We had some money sitting in savings long enough to earn reportable interest. I've checked the January 31 deadline has passed, and neither my son nor I have received a 1099-INT specifically for his account. I'm wondering if I should stop waiting for his 1099-INT to arrive and assume that since he's now the primary account holder, the bank isn't reporting his interest under my SSN anymore? His only income for 2024 would be about $3 in interest, so he'd be well below any filing requirement. I've always reported even tiny interest amounts through TurboTax, even without receiving the actual 1099-INT forms. Should I include his account's interest on my return without having the form, or is that incorrect now that he's 18? My main concern is that what I report won't match what the IRS receives from the bank, potentially triggering an audit. While I don't have anything to hide, I'd really prefer to avoid that headache by getting everything right the first time.

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19 comments

Jade Santiago

•8M

The good news is that you don't need to worry too much about this situation. When your son turned 18 and became the primary account holder, the bank should have switched the tax reporting to his Social Security Number. This means any interest earned after that point would be reported to the IRS under his name/SSN, not yours. For accounts earning only $3 in interest, banks sometimes don't issue a 1099-INT because they're only required to send these forms when interest totals $10 or more. Your son likely didn't receive one because his interest was below this threshold. You should only report interest from accounts where you're the primary owner or where you and your spouse are joint owners. Since your son is now the primary on his account, that interest belongs on his tax return (if he's required to file one), not yours. If your son's only income for the year was $3 in interest, he's well below the filing threshold and doesn't need to file a tax return at all. The IRS won't be expecting to match a $3 interest payment to anyone's return when it's below the reporting threshold.

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Jade Santiago

•8M

That's exactly right. Even though you can see the account in your online banking as an authorized user, you should not include that interest on your tax return. The interest belongs to the primary account holder (your son) for tax purposes. For your peace of mind, the $3 in interest is so minimal that it falls well below reporting thresholds for both the bank and your son's filing requirements. The IRS systems are designed to handle these small discrepancies without triggering audits or notices.

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Caleb Stone

•8M

Hey there! I went through something similar with my daughter last year. After hours of research and frustration, I found taxr.ai (https://taxr.ai) and it was seriously a game-changer for sorting out these weird family tax situations. I uploaded our bank statements and answer a few questions, and the system immediately identified that once a child turns 18 and becomes primary on an account, the interest income shifts to their tax responsibility regardless of whether a 1099-INT was issued. The tool even explained the $10 reporting threshold that banks follow for these forms. What I found most helpful was that taxr.ai explained exactly what documentation to keep in case of questions later. For small amounts like your situation, they confirmed I was overthinking it (just like you might be!). Their system can analyze all kinds of tax documents and give straightforward answers without the tax jargon.

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Caleb Stone

•8M

For joint accounts, yes absolutely! The tool analyzes who's primary vs secondary and breaks down exactly how the interest should be allocated for tax purposes. It even handles those complicated situations where ownership changed during the tax year. Tax rules are built into their system with direct IRS guidance. What makes it different from just asking random tax pros is that it applies the rules specifically to your documents. I was getting conflicting advice too, but once I uploaded my actual bank statements, the system could pinpoint exactly how my situation fit with tax regulations.

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Daniel Price

•8M

I tried taxr.ai after seeing the recommendation here, and it was exactly what I needed! I've been stressing about a similar situation with my son's account where he's primary but I'm still connected to it. The site analyzed my bank statements in minutes and confirmed I shouldn't report his interest on my taxes. It even generated a simple explanation document I could keep with my tax records that referenced the specific IRS rules. Super clear about the $10 threshold for 1099-INT forms too. What I appreciated most was being able to chat with the system to ask follow-up questions specific to my situation. When I asked "What if the bank mistakenly sends a 1099 with his interest under my SSN?" it provided step-by-step instructions for handling that scenario. Definitely recommend for anyone dealing with family account confusion!

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Sophia Bennett

•8M

If you're still waiting for clarification from the bank, you might want to try Claimyr (https://claimyr.com). I was in a similar situation last year where some 1099 forms had incorrect SSNs after my kids turned 18, and the bank's customer service wait times were ridiculous. Claimyr got me connected to an actual human at the bank in about 15 minutes, when I had previously been spending hours on hold. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c The bank representative quickly confirmed that after my child turned 18, the interest reporting responsibility transferred to them, and explained why no 1099-INT was issued for amounts under $10. They even sent me an official email confirming this for my records, which gave me peace of mind for tax filing.

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Sophia Bennett

•8M

They don't just call for you - they have technology that navigates phone trees and holds your place in line. When they reach a human representative, you get a call to connect with that person. It essentially handles the painful waiting part of customer service calls. There's really no catch - they just figured out how to efficiently work through phone systems. I was skeptical too, but after spending 3+ hours on multiple calls getting nowhere with my bank about missing tax forms, I tried it out of desperation. Got connected to a bank rep in about 12 minutes who actually had the authority to help with tax document questions.

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Olivia Evans

•8M

I just had to come back and say that Claimyr actually worked! After posting my skeptical comment, I decided to try it for my bank 1099 situation. I've been trying to reach my bank for TWO WEEKS about a similar family account issue. Used the service yesterday afternoon, and they got me through to a bank specialist in under 20 minutes. The representative confirmed exactly what others have said here - once my daughter turned 18, her account's interest is reported under her SSN, not mine, and no 1099-INT is issued for amounts under $10. They even sent me an email confirming this policy that I can keep with my tax records. Honestly shocked at how easy the whole process was compared to my previous attempts. Wish I'd known about this service years ago for all the hours I've wasted on hold!

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Zoey Bianchi

•8M

One thing to consider that nobody mentioned yet - if your son's account was changed to his SSN mid-year when he turned 18, there might be partial year reporting. The bank might have reported the interest earned before his birthday under your SSN, and interest after his birthday under his. For such small amounts it probably doesn't matter much, but it's good to understand how the split works. When my son turned 18, the bank actually sent me a partial year 1099-INT for the first half of the year, and sent him one for the second half.

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Zoey Bianchi

•8M

The bank should handle the splitting automatically in their reporting systems. Usually they'll only issue the 1099-INT forms if either portion exceeds the $10 threshold though, which is probably why neither of you received one. For very small amounts like $3 total for the year, the IRS truly doesn't care which return it appears on (if at all). Their matching systems are designed with thresholds that ignore these tiny discrepancies. If you're using tax software, just include any interest you're reasonably sure belongs to you, and your son can do the same if he files.

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Christopher Morgan

•8M

I work at a credit union (not a tax pro) and see this confusion all the time. Here's the simple version: banks track interest by SSN/TIN for tax reporting. When your son turned 18 and became primary, the system should have switched the taxable interest to report under his SSN. Banks only send 1099-INTs when interest is $10+, which is why nobody got a form. The $3 interest is still technically taxable income, but it's so small the IRS doesn't really track it. For your records, you should only report interest from accounts where YOUR SSN is the primary tax reporting number. Your son would report his if he files (which he doesn't need to with only $3 income).

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Isabella Oliveira

•5M

For custodial investment accounts, it's different than regular bank accounts. When you're the custodian on an UTMA/UGMA account, the investment income (interest, dividends, capital gains) is typically reported under the child's SSN, but you as the custodian are responsible for filing their tax return if required. The key difference is that custodial accounts are already set up with the child as the beneficial owner from the start, so the tax reporting stays with their SSN even while you manage the account. Regular bank accounts like the original poster's situation involve a change in primary ownership when the child turns 18. If your teenagers' investment accounts are earning significant income, you'll likely receive 1099s under their SSNs and may need to file returns for them depending on the amounts and types of income involved.

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