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Purpose of Form. Use this form if you elect to report your child’s income on your return. If you do, your child will not have to file a return. You can make this election if your child meets all of the following conditions. The child was under age 19 (or under age 24 if a full-time student) at the end of 2023.
Attach to parents’ Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/Form8814 for the latest information. OMB No. 1545-0074. Form 8814. Department of the Treasury Internal Revenue Service. Parents’ Election To Report Child’s Interest and Dividends. Attach to parents’ Form 1040, 1040-SR, or 1040-NR.
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Purpose of Form. Use Form 8615 to figure your tax on unearned income over $2,200 if you are under age 18, and in certain situations if you are older. See Who Must File, later. Unearned Income. For Form 8615, “unearned income” includes all taxable income other than earned income.
Aug 12, 2023 · Part I: Child’s Interest and Dividends to Report on Your Return. Part II: Tax on the First $2,200 of Child’s Interest and Dividends. Video walkthrough. Frequently asked questions. What are kiddie tax rules? Who can use IRS Form 8814? When does it make sense to use IRS Form 8814? Where can I find a copy of IRS Form 8814? Related tax articles.
Form 8814 - Parents Election To Report Child Interest And Dividends. The purpose of Form 8814 is to allow parents to include a child's income on their own tax return, which may result in a lower overall tax liability for the family.
