IRS 8814 2013 free printable template

Form Department of the Treasury Internal Revenue Service 99 Parents Election To Report Child s Interest and Dividends OMB No. 1545-0074 Information about Form 8814 and its instructions is at www.irs.gov/form8814. Multiply line 6 by line 7. Enter the result here. See the instructions for where to report this amount on your return. Add lines 9 and 10. 1040NR line 21. In the space next to line 21 enter Form 8814 and show the amount. Add lines 9 and 10. 1040NR line 21. In the space next to line...

How to fill out IRS 8814

How to fill out IRS 8814

1. Obtain IRS Form 8814 from the IRS website or your tax software.
2. Fill out your name, Social Security number, and filing status at the top of the form.
3. Report your child's name and Social Security number in the designated area.
4. Complete Part I by entering your child's interest and dividend income.
5. Transfer the total income from Part I to your Form 1040 or 1040-SR.
6. Complete Part II to calculate the tax on your child's income based on the tax rate.
7. Review the form for accuracy and sign where indicated before submitting.

Who needs IRS 8814?

1. Parents or guardians who have children under the age of 19 (or under 24 if a full-time student) who have unearned income.
2. Taxpayers who want to report their child's income on their own tax return instead of filing a separate return for the child.
3. Individuals who need to take advantage of the option to combine their child’s income with their own for tax purposes.

People Also Ask about

How to fill out tax form 8814?

2:33 15:45 IRS Form 8814 (Kiddie Taxes) - How to Complete - YouTube YouTube Start of suggested clip End of suggested clip You can't make this election on the 8814. Okay you're gonna have to file a separate 1040 for thatMoreYou can't make this election on the 8814. Okay you're gonna have to file a separate 1040 for that child. So again this this form 8814. Can only be used if the income.

What is the form 8814 for?

About Form 8814, Parent's Election to Report Child's Interest and Dividends | Internal Revenue Service.

What is 8814 filing requirement?

If you are a parent who has a child with investment income, you may need to file Form 8814, Parent's Election to Report Child's Interest and Dividends. This form is used to report the child's investment income on the parent's tax return, rather than on a separate tax return for the child.

Should I file 8814 or 8615?

If you are completing the parents' return, DO NOT enter the information for Form 8615 Tax for Certain Children Who Have Unearned Income but DO complete Form 8814 Parents' Election To Report Child's Interest and Dividends.

Who is required to file 8814?

If you are a parent who has a child with investment income, you may need to file Form 8814, Parent's Election to Report Child's Interest and Dividends. This form is used to report the child's investment income on the parent's tax return, rather than on a separate tax return for the child.

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What is IRS 8814?

IRS Form 8814 is used by parents to report their child's unearned income on their tax return, allowing the parent to include the child's income on their own tax return instead of filing a separate return for the child.

Who is required to file IRS 8814?

Parents are required to file IRS 8814 if they have a child under the age of 19 (or under 24 if a full-time student) who has unearned income exceeding a certain threshold, and they wish to report that income on their own tax return.

How to fill out IRS 8814?

To fill out IRS 8814, parents need to provide their child's name, Social Security number, and the amount of unearned income. They will also need to perform calculations to determine how much of the child's income is taxable and include that amount in their own tax return.

What is the purpose of IRS 8814?

The purpose of IRS 8814 is to simplify the tax filing process for families with minor children who have unearned income, allowing parents to report this income under their tax return rather than filing separate returns for their children.

What information must be reported on IRS 8814?

The information that must be reported on IRS 8814 includes the child's name, Social Security number, the amount of unearned income earned by the child during the tax year, and calculations showing how much of that income is subject to tax.