Discussion:Form 8615 Kidde tax

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Discussion Forum Index --> Tax Questions --> Form 8615 Kidde tax

Stanacc1 (talk|edits) said:

19 March 2007
too much info to plow thru, did not understand it?

Kevinh5 (talk|edits) said:

19 March 2007
??? try reading the instructions again

Deback (talk|edits) said:

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.

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