Get the free 2014 Form 8814. Parents' Election To Report Child's Interest and Dividends

Form 8814 Department of the Treasury Internal Revenue Service (99) Parents Election To Report Child's Interest and Dividends OMB No. 15450074 2014 Information about Form 8814 and its instructions

How to fill out 2014 form 8814 parents

How to fill out 2014 form 8814 parents

1. Gather all necessary information such as income details, Social Security numbers, and any relevant tax documents.
2. Download Form 8814 from the IRS website or obtain a printed copy from a local IRS office.
3. Read the instructions carefully to understand the requirements and eligibility criteria for using this form.
4. Start by entering your personal information, including your name, address, and Social Security number.
5. Follow the prompts to accurately report your child's income, if applicable.
6. Enter the necessary information regarding your child's investments, if any.
7. Complete the worksheet provided in the form to calculate the taxable income for your child.
8. Transfer the information from the worksheet to the corresponding sections on Form 8814.
9. Double-check all entries for accuracy and ensure you have signed the form.
10. Submit the completed Form 8814 along with your tax return by the specified deadline.

Who needs 2014 form 8814 parents?

1. Parents who have a child with unearned income above a certain threshold may need Form 8814.
2. If your child's unearned income is below the threshold or they have only earned income, you may not need this form.
3. It is recommended to consult the IRS guidelines or a tax professional to determine if you qualify to use this form.

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What is form 8814 parents election?

Form 8814 parents election is used by parents to report their child's income on their tax return when the child is under 19 years old or a full-time student under the age of 24.

Who is required to file form 8814 parents election?

Parents are required to file form 8814 parents election if their child has investment income greater than $2,200.

How to fill out form 8814 parents election?

To fill out form 8814 parents election, parents need to provide information about their child's investment income and calculate the tax using the parent's tax rate.

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 tax return and potentially reduce taxes by using the parent's tax rate.

What information must be reported on form 8814 parents election?

Parents must report their child's investment income, such as interest, dividends, and capital gains, on form 8814 parents election.