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."