Get the free 2013 Form 8814. Parents' Election To Report Child's Interest and Dividends

Caution: DRIFTNET FOR FILING This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is providing for your information as a courtesy. Do not file draft forms.

How to fill out 2013 form 8814 parents

How to fill out 2013 form 8814 parents

1. First, you will need to gather the necessary information such as your personal details, your parents' details, and your income information.
2. Then, you should download the 2013 form 8814 parents from the official IRS website or obtain a physical copy from the IRS office.
3. Next, carefully read the instructions provided with the form to understand the requirements and guidelines for filling it out correctly.
4. Begin filling out the form by entering your personal information in the designated fields, including your name, address, and social security number.
5. Move on to the section where you need to provide your parents' information, such as their names, social security numbers, and relationship to you.
6. Make sure to accurately report your parents' income for the year 2013, including any investments or other sources of earnings.
7. Double-check all the information you have entered to ensure accuracy and completeness.
8. If applicable, attach any supporting documents or schedules as instructed on the form.
9. Once you have completed filling out the form, sign and date it.
10. Finally, make a copy of the filled-out form for your records and mail it to the IRS address specified in the instructions.

Who needs 2013 form 8814 parents?

1. Individuals who were required to file a tax return for the year 2013 and met certain criteria involving their parents may need to fill out form 8814 parents.
2. Specifically, anyone who is single, under the age of 24, and had unearned income that exceeded a certain threshold ($2,000 in 2013) may be required to file this form.
3. The purpose of form 8814 is to report a child's unearned income (such as dividends or interest) that is taxed at the parents' tax rate instead of the child's own tax rate.
4. Parents who need to report their child's unearned income on their tax return may also need to use form 8814.
5. It is recommended to consult the IRS guidelines or a tax professional to determine if you meet the requirements for filling out form 8814 parents.

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What is form 8814 parents election?

Form 8814 is used by parents to report a child's income on their tax return when the child’s income is over a certain limit.

Who is required to file form 8814 parents election?

Parents or guardians are required to file form 8814 if their child has unearned income over a certain limit.

How to fill out form 8814 parents election?

Form 8814 requires reporting the child's unearned income, calculating the child's tax, and electing to report the child's income on the parent's tax return.

What is the purpose of form 8814 parents election?

The purpose of form 8814 is to allow parents to report a child's income on their tax return and potentially save on taxes by utilizing the child's lower tax rate.

What information must be reported on form 8814 parents election?

Form 8814 requires reporting the child's unearned income, calculating the child's tax using the parent's tax rates, and electing to include the child's income on the parent's tax return.