Get the free Form 8612

Form 8612 is used by real estate investment trusts (REITs) to figure and pay the excise tax on undistributed income under section 4981. The form helps calculate the tax due based on the required distribution

How to fill out form 8612

How to fill out Form 8612

1. Obtain a copy of Form 8612 from the IRS website or your tax professional.
2. Enter your child's name and Social Security number at the top of the form.
3. Complete Part I by indicating your relationship to the child and the child's age.
4. In Part II, fill in the child's income information as required.
5. Calculate the total tax using the provided instructions and enter the result in the appropriate section.
6. Review your entries for accuracy and completeness.
7. Sign and date the form at the bottom.
8. Submit Form 8612 with your federal tax return.

Who needs Form 8612?

1. Form 8612 is required for parents or guardians of children who have a certain amount of unearned income.
2. Specifically, it is needed if you are claiming the child as a dependent and their unearned income exceeds the threshold set by the IRS.

People Also Ask about

What is Form 8612?

A Real Estate Investment Trust (REIT) required to file a return on Form 8612, “Return of Excise Tax on Undistributed Income of Real Estate Investment Trusts,” or a Regulated Investment Company (RIC) required to file a return on Form 8613, “Return of Excise Tax on Undistributed Income of Regulated Investment Companies,”

When I sell a stock, what taxes do I pay?

If you sell stocks for a profit, your earnings are known as capital gains and are subject to capital gains tax. Generally, any profit you make on the sale of an asset is taxable at either 0%, 15% or 20% if you held the shares for more than a year, or at your ordinary tax rate if you held the shares for a year or less.

What is the IRS form for real estate sale?

File Form 1099-S, Proceeds From Real Estate Transactions, to report the sale or exchange of real estate.

Do I need to list every stock transaction on form 8949?

Enter all sales and exchanges of capital assets, including stocks, bonds, and real estate (if not reported on line 1a or 8a of Schedule D or on Form 4684, 4797, 6252, 6781, or 8824). Include these transactions even if you didn't receive a Form 1099-B or 1099-S (or substitute statement) for the transaction.

Do you get a 1099 when you sell stock?

Form 1099-B reports transaction proceeds from broker transactions or bartering networks. If you've sold stocks, bonds, or other securities, you'll receive a 1099-B from each broker by February 17th. This form contains vital details, such as the item description, purchase and sale dates, and any federal tax withheld.

What is the excise tax for a REIT 4?

A REIT using this strategy would owe a 4% nondeductible excise tax to the extent that the amount that it actually distributed during 2024 (including the December declaration described above) was less than 85% of its ordinary income and 95% of its capital gain net income (other than any retained capital gain on which

What tax documents do I need if I sold stock?

Form 8949 is required for anyone who sells or exchanges a capital asset, such as stocks, land, or artwork. It tracks both short-term and long-term transactions, with different tax implications for each.

What tax forms do I need if I sold stock?

You must report all 1099-B transactions on Schedule D (Form 1040), Capital Gains and Losses and you may need to use Form 8949, Sales and Other Dispositions of Capital Assets. This is true even if there's no net capital gain subject to tax.

For pdfFiller’s FAQs

What is Form 8612?

Form 8612 is the 'Return of Excise Taxes Related to Excess Tax Benefit Transactions' used to report certain excise taxes.

Who is required to file Form 8612?

Generally, corporations and other entities that have excess tax benefit transactions may be required to file Form 8612.

How to fill out Form 8612?

To fill out Form 8612, follow the instructions provided with the form, including providing necessary details about the excess tax benefits and calculating any excise taxes due.

What is the purpose of Form 8612?

The purpose of Form 8612 is to report and pay specific excise taxes related to excess tax benefit transactions.

What information must be reported on Form 8612?

Form 8612 requires reporting of details related to the excess tax benefits, the calculating of any taxes owed, and relevant entity identification information.