Does my child need to file form 8615?

When you report your child's interest and dividend income on your return, file Form 8814 with your return. If your child files their own return and the kiddie tax applies, file Form 8615 with the child's return.

For 2023 tax filing, Form 8615 must be submitted if the following criteria apply: the child has unearned income exceeding the threshold ($1,100, $2,300 or $12,7500); the child cannot file a shared tax return with a spouse; at least one parent of the child is still alive.

Why is TurboTax making me file a form 8615?

Treatment of unearned income Any unearned income above $2,200, however, is taxed at the marginal tax rate of the parent(s), that is usually higher than the child's rate. This tax treatment has gained a nickname: the "kiddie tax." Calculating how much tax applies to the child's income is the purpose of Form 8615.

Purpose of Form. For children under age 18 and certain older children described below in Who Must File, unearned income over $2,300 is taxed at the parent's rate if the parent's rate is higher than the child's. If the child's unearned income is more than $2,300, use Form 8615 to figure the child's tax.

Does the parent or child file form 8615?

When you report your child's interest and dividend income on your return, file Form 8814 with your return. If your child files their own return and the kiddie tax applies, file Form 8615 with the child's return.

Who is required to file form 8615?

Form 8615 must be filed with the child's tax return if all of the following apply: You had more than $2,300 of unearned income. You are required to file a tax return.

Why does TurboTax want me to fill out form 8615?

Treatment of unearned income Any unearned income above $2,200, however, is taxed at the marginal tax rate of the parent(s), that is usually higher than the child's rate. This tax treatment has gained a nickname: the "kiddie tax." Calculating how much tax applies to the child's income is the purpose of Form 8615.

Who needs to file form 8615?

Form 8615 must be filed with the child's tax return if all of the following apply: You had more than $2,300 of unearned income. You are required to file a tax return.

Get Form8615

Q: Does my child need to file form 8615?

When you report your child&#039;s interest and dividend income on your return, file Form 8814 with your return. If your child files their own return and the kiddie tax applies, file Form 8615 with the child&#039;s return.

Q: Does the parent or child file form 8615?

When you report your child&#039;s interest and dividend income on your return, file Form 8814 with your return. If your child files their own return and the kiddie tax applies, file Form 8615 with the child&#039;s return.

Q: Who is required to file form 8615?

Form 8615 must be filed with the child&#039;s tax return if all of the following apply: You had more than $2,300 of unearned income. You are required to file a tax return.

Q: Who needs to file form 8615?

Form 8615 must be filed with the child&#039;s tax return if all of the following apply: You had more than $2,300 of unearned income. You are required to file a tax return.

The parent s other children for whom Form 8615 must be filed must use the Schedule D Tax Worksheet or has income from farming or fishing, see Pub. 929, Tax Rules for Children and Dependents. It explains how to figure the child s tax using the Schedule D Tax Worksheet or Schedule J (Form 1040). A Parent s name (first, initial, and last). Caution: See instructions before completing. C Parent s filing status (check one): Single Part I 1 2 3 4 5 7 8 9 Married filing separately Parent.

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