Get Irs 8615 2024-2025

Filling out the IRS 8615 form is essential for certain children who have unearned income. This guide aims to provide clear, step-by-step instructions tailored to help users with varying levels of experience complete the form accurately online.

Follow the steps to accurately complete the IRS 8615 online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin by entering the child’s name and social security number in the designated fields. This information is crucial as it identifies the child for tax purposes.
3. Input the parent’s name and social security number. Ensure accuracy, as this information is linked to the child's tax calculation.
4. Select the parent's filing status by checking one of the provided options: single, married filing jointly, married filing separately, head of household, or qualifying surviving spouse.
5. In Part I, enter the child’s net unearned income on line 1. If the child did not itemize deductions, enter $2,600 on line 2. Subtract line 2 from line 1, and if the amount is zero or less, discontinue filling out the form, but remember to attach it to the child’s return.
6. Provide the child's taxable income from Form 1040 or 1040-NR on line 4. Enter the smaller amount of line 3 or line 4 on line 5. If this is zero, stop and attach the form to the return.
7. In Part II, enter the parent's taxable income from Form 1040 or 1040-NR on line 6 and provide any totals from other children on line 7, if applicable.
8. Calculate the sum of lines 5, 6, and 7 on line 8, then determine the tax on this total based on the parent's filing status for line 9.
9. Input the parent's tax from line 16 of Form 1040 or 1040-NR on line 10, and subtract this from line 9 to complete line 11.
10. Add lines 5 and 7 together for line 12a and calculate the decimal for line 12b as instructed.
11. Multiply line 11 by the result from line 12b to find the tentative tax on line 13.
12. In Part III, subtract line 5 from line 4 on line 14 and calculate the tax applicable for this amount based on the child's filing status on line 15.
13. Finally, add lines 13 and 15 to arrive at the total tax. If lines 4 and 5 are identical, enter -0- on line 15 and proceed to line 16.
14. Complete line 16 by entering the larger amount from lines 16 or 17 and ensure this is recorded appropriately on the child's Form 1040 or 1040-NR.
15. Once you have filled out all required sections, make sure to save your changes, download a copy, print it, or share it as needed.

Complete your IRS forms online confidently and accurately.