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Are these accounts in your children's name only? If so, it would technically go on *their* returns. So if they don't need to file, you're all set.

You have the option to report it on your return, but that's generally just for simplicity. No reason to add tax to your return if its not reportable for them.

Who Must File: Dependents (since I assume you claim them :) ):
http://www.irs.gov/publications/p17/ch01.html#d0e1974
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