Get the free 2012 Form 8814. Parents' Election To Report Child's Interest and Dividends

Page 3 Form 8814 (2012) General Instructions Future developments. For the latest information about developments related to Form 8814 and its instructions, such as legislation enacted after they were

How to fill out 2012 form 8814 parents

How to fill out 2012 form 8814 parents

1. Step 1: Obtain a copy of the 2012 form 8814 from the IRS website or your local IRS office.
2. Step 2: Read the instructions provided with the form carefully to familiarize yourself with the requirements and procedures.
3. Step 3: Gather all the necessary information and documents to complete the form, such as your parents' tax information and relevant financial records.
4. Step 4: Fill in the form by following the instructions and providing accurate information. Pay attention to the specific sections and lines that require details about your parents' income and any applicable adjustments.
5. Step 5: Double-check all the filled-in information for accuracy and completeness. Make sure you haven't missed any required fields.
6. Step 6: Sign and date the form at the designated places.
7. Step 7: Include any additional supporting documents or schedules, if required.
8. Step 8: Make a copy of the completed form and all supporting documents for your records.
9. Step 9: Submit the filled-out form 8814 and all supporting documents to the IRS by mail, using the address provided in the instructions.
10. Step 10: Keep track of the status of your submission and follow up with the IRS if necessary.

Who needs 2012 form 8814 parents?

1. The 2012 form 8814 parents is required by taxpayers who have children with unearned income.
2. Parents of children who received income from investments, dividends, or capital gains in 2012 may need to fill out this form.
3. It is important for parents to determine if their child's unearned income exceeds a certain threshold specified by the IRS.
4. If the child's unearned income exceeds the threshold, the parents are required to use form 8814 to report and calculate the tax liability associated with the child's income.
5. Parents who are eligible to use form 8814 can benefit from the potentially lower tax rates on their child's investment income.
6. Ultimately, the determination of whether someone needs to fill out form 8814 parents depends on the child's unearned income and the specific tax regulations in effect during the tax year 2012.

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What is form 8814 parents election?

Form 8814 parents election is used by parents to report their child's investment income on their own tax return.

Who is required to file form 8814 parents election?

Parents are required to file form 8814 parents election if their child has investment income.

How to fill out form 8814 parents election?

Form 8814 parents election requires parents to report their child's investment income, calculate the child's tax, and elect to report the child's income on their own tax return.

What is the purpose of form 8814 parents election?

The purpose of form 8814 parents election is to allow parents to include their child's investment income on their own tax return.

What information must be reported on form 8814 parents election?

Parents must report their child's investment income, calculate the child's tax using the Kiddie Tax rules, and elect to include the child's income on their own tax return.