Discussion:Form 8615 Kidde tax
From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Tax Questions --> Form 8615 Kidde tax
| March 19, 2007 | |
| What's your question? If a minor, under the age of 18, is required to file a tax return with investment income of over $850, then you include Form 8615 with the minor's tax return and fill out the part at the top of the 8615 worksheet in your software, taxing the minor at the parent's tax rate. It's actually very easy, if you have the parent's tax return. Enter the parent's name, social security number, taxable income, and filing status. | |
Death&Taxes (talk|edits) said: | 19 March 2007 |
| Make it simple, use the 8814 if the kid did not sell stock. Might make the parents' tax higher but sometimes you are actually able to eliminate the tax on the first $850.
Anyone ever think Proseries will reach the day the kids returns and the parents can link? Like the importing of K-1s. | |
To join in on this discussion, you must first
log in.
