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  • 2014 Form 8615. Tax For Certain Children Who Have Unearned Income - Irs

Get 2014 Form 8615. Tax For Certain Children Who Have Unearned Income - Irs

Form 8615 Department of the Treasury Internal Revenue Service (99) Tax for Certain Children Who Have Unearned Income ? OMB No. 1545-0074 2014 ? Attach only to the child's Form 1040, Form 1040A, or.

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A child whose tax is figured on Form 8615 may be subject to the Net Investment Income Tax (NIIT). NIIT is a 3.8% tax on the lesser of net investment income or the excess of the child's modified adjusted gross income (MAGI) over the threshold amount. Use Form 8960, Net Investment Income Tax, to figure this tax.

Any unearned income above $2,300, 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.

A minor who earns less than $13,850 in 2023 will usually not owe taxes but may choose to file a return to receive a refund of tax withheld from their earnings. A child who earns $1,250 or more (tax year 2023) in "unearned income,” such as dividends or interest, needs to file a tax return.

If your child's interest, dividends, and other unearned income total more than $2,300, it may be subject to a specific tax on the unearned income of certain children. See the Instructions for Form 8615, Tax for Certain Children Who Have Unearned Income for more information.

The kiddie tax has seen many iterations, but current rules tax a minor child's unearned income—including capital gains distributions, dividends, and interest income—at the parents' tax rate if it exceeds the annual limit ($2,500 in 2023).

How to Calculate the Kiddie Tax for Tax Year 2023 (Filed in 2024) The first $1,250 of a child's unearned income is tax-free, and the next $1,250 is subject to the child's tax rate. Any additional earnings above $2,500 are taxed at the child's parents' marginal tax rate.

Form 8615 is used to report unearned income, such as interest, dividends, and capital gains, from investments by minors. The form is required when the child's unearned income exceeds certain limits set by the IRS.

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.

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

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

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
2014 Form 8615. Tax For Certain Children Who Have Unearned Income - Irs
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