Welcome Guest. Register Now!  

LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-26-2012, 09:37 PM
TaxGuru's Avatar
Tax Guru
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,413
Blog Entries: 3
When should a taxpayer File Form 8814?

Form 8814 is generally filed with the parent's return to report a child's taxable income, and to determine the applicable taxes related to the child's taxable income. Per the IRS instructions. the Form 8814 can be filed if the following circumstances are present,

1)The child under age 19, or under age 24 if a full-time student at the end of 2011.

2)The child's only income was from interest and dividends, including capital gain distributions and Alaska Permanent Fund dividends.

3)The child's gross income for 2011 was less than $9,500.

4)The child is required to file a 2011 return.

5)The child does not file a joint return for 2011.

6)There were no estimated tax payments for the child for 2011

7)There was no federal income tax withheld from the child's income.

The IRS rules state that "if the child does not qualify to have his or her reported income reported on the parent's return using the 8814, he or she must file a separate tax return and include an 8615 to report the parents taxable income and tax liability to figure the child's correct tax liability."

Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.

Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
When should the taxpayer file Form 8857 Request for Innocent Spouse Relief? TaxGuru Divorce Tax Issues 0 01-22-2010 08:04 AM
Where should a taxpayer file Forms W-2c and W-3c. TaxGuru General 0 08-20-2009 01:57 PM
Can a taxpayer go directly to the IRS to receive the transcripts from Form 4506-T? TaxGuru Miscellaneous 0 07-05-2009 10:18 AM
What options does a taxpayer have if they file an extension and owe money? TaxGuru General 0 04-10-2008 12:25 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 » Income
 » IRA/Sep
 » Medical
 » Payroll
Forum for CPAs
Financial Planning