Get the free gov/form8814

22 Sep 2017 ... See Form 8814, Parents' Election to Report Child's Interest and Dividends. If you make this choice, the child does not file a return. Your child must file their own tax return if they

How to fill out govform8814

How to fill out govform8814:

1. Ensure that you have all the necessary information and documents before starting the form.
2. Begin by entering your personal information, such as your name, address, and social security number, in the designated fields.
3. Fill out the sections regarding your dependents, if applicable, providing their names, relationship to you, and social security numbers.
4. Proceed to the income section, where you will report the qualified dividends and capital gain distributions from your child's investments. Include the necessary details, such as the payer's name, EIN or SSN, and the amounts received.
5. Move on to calculating the income tax. Follow the provided instructions to determine the tax using the appropriate tax rates and worksheets.
6. If you are eligible for any credits or deductions, make sure to complete the corresponding sections accurately.
7. Review all the information you have entered to ensure its accuracy and completeness.
8. Sign and date the form, providing your phone number and occupation.
9. Keep a copy of the completed form for your records.

Who needs govform8814:

1. Individuals who have dependents with investment income may need to fill out govform8814.
2. This form is specifically designed for taxpayers who need to report the qualified dividends and capital gain distributions received by their child or dependent.
3. It is important to note that this form is only applicable to individuals who meet certain criteria, such as having a child or dependent who has not reached the age of 19 or who is a full-time student under the age of 24. Additionally, the investment income of the child or dependent must exceed a certain threshold for this form to be required.

Remember, it is always advisable to consult with a tax professional or refer to the official instructions provided by the IRS to ensure accurate completion of any tax form.

For pdfFiller’s FAQs

What is govform8814?

Govform8814 is a form used for reporting the income of a minor child.

Who is required to file govform8814?

Parents or guardians of minor children who have unearned income are required to file govform8814.

How to fill out govform8814?

Govform8814 can be filled out by providing information on the child's income, deductions, and calculating the tax owed.

What is the purpose of govform8814?

The purpose of govform8814 is to report and pay tax on a minor child's unearned income.

What information must be reported on govform8814?

Information such as the child's income, deductions, and tax owed must be reported on govform8814.

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