Tax For Children Under Age 14 (Form 8615 1994) (Page 2 of 2) in pdf

Form 8615 (1994)

Page

Amended Return.—If after the child’s

child files Form 2555, Foreign Earned

the parent’s

the amount on

filing status

AND

Form 8615,

return is filed, the parent’s taxable

Income, or Form 2555-EZ, Foreign

is:

line 8, is over:

income is changed or the net investment

Earned Income Exclusion, has a net loss

Single

$55,100

income of any of the parent’s other

from self-employment, or claims a net

children is changed, the child’s tax must

operating loss deduction, do not use the

Married filing jointly or

Qualifying widow(er)

$91,850

be refigured using the adjusted amounts.

worksheet below. Instead, use the

Married filing

If the child’s tax is changed as a result

worksheet in Pub. 929 to figure the

separately

$45,925

of the adjustment(s), file Form 1040X,

amount to enter on line 1.

$78,700

Head of household

Amended U.S. Individual Income Tax

Worksheet (keep a copy for your records)

Return, to correct the child’s tax.

If the Capital Gain Tax Worksheet is

Alternative Minimum Tax.—A child

used to figure the tax, enter on Form

Enter the amount from the

whose tax is figured on Form 8615 may

8615, line 9, the amount from line 13 of

child’s Form 1040, line 22;

owe the alternative minimum tax. For

Form 1040A, line 14; or

that worksheet. Also, enter the amount

Form 1040NR, line 23,

details, get Form 6251, Alternative

from line 4 of that worksheet in the

whichever applies

Minimum Tax—Individuals, and its

space next to line 9 of Form 8615.

instructions.

Enter the child’s earned

Line 10.—If the parent filed a joint

income (defined below)

return, enter the tax shown on that

Line Instructions

plus any deduction the

return even if the parent’s spouse is not

child claims on Form 1040,

the child’s parent. If the parent filed

Section references are to the Internal

line 28, or Form 1040NR,

line 28, whichever applies

Form 8814, enter “Form 8814” and the

Revenue Code.

total tax from line 8 of Form(s) 8814 in

Subtract line 2 from line 1.

Lines A and B.—If the child’s parents

the space next to line 10 of Form 8615.

Enter the result here and

were married to each other and filed a

on Form 8615, line 1

If line 6 includes any gain taxed to a

joint return, enter the name and social

trust under section 644, add the tax

security number (SSN) of the parent who

Earned income includes wages, tips,

imposed under section 644(a)(2)(A) to

is listed first on the joint return. For

and other payments received for

the tax shown on the parent’s return and

example, if the father’s name is listed

personal services performed. Generally,

enter the total on line 10. Also, enter

first on the return and his SSN is

earned income is the total of the

“Section 644” next to line 10.

entered in the block labeled “Your social

amounts reported on Form 1040, lines 7,

security number,” enter his name on line

Line 15.—Figure the tax using the Tax

12, and 18; Form 1040A, line 7; or Form

A and his SSN on line B.

Table, Tax Rate Schedule X, or the

1040NR, lines 8, 13, and 19.

Capital Gain Tax Worksheet, whichever

If the parents were married but filed

Line 2.—If the child itemized

applies. If line 14 is more than $55,100

separate returns, enter the name and

deductions, enter on line 2 the greater

and includes any net capital gain, the

SSN of the parent who had the higher

of:

tax may be less if the Capital Gain Tax

taxable income. If you do not know

$600 plus the portion of the amount

Worksheet is used to figure the tax. See

which parent had the higher taxable

on Schedule A (Form 1040), line 29, or

Pub. 929 for details on how to figure the

income, see Pub. 929.

Schedule A (Form 1040NR), line 18, that

net capital gain included on line 14 and

If the parents were unmarried, treated

is directly connected with the production

how to complete the worksheet.

as unmarried for Federal income tax

of the investment income on Form 8615,

Line 17.—Figure the tax as if these rules

purposes, or separated either by a

line 1; OR

did not apply. For example, if the child

divorce or separate maintenance decree,

$1,200.

can use the Capital Gain Tax Worksheet

enter the name and SSN of the parent

to figure his or her tax, complete that

who had custody of the child for most of

Line 6.—If the parent’s taxable income is

worksheet.

the year (the custodial parent).

less than zero, enter zero on line 6. If the

parent filed a joint return, enter the

Exception. If the custodial parent

taxable income shown on that return

Paperwork Reduction Act Notice.—We

remarried and filed a joint return with his

even if the parent’s spouse is not the

ask for the information on this form to

or her new spouse, enter the name and

child’s parent. If the parent transferred

carry out the Internal Revenue laws of

SSN of the person listed first on the joint

property to a trust which sold or

the United States. You are required to

return, even if that person is not the

exchanged the property during the year

give us the information. We need it to

child’s parent. If the custodial parent and

at a gain, include any gain that was

ensure that you are complying with

his or her new spouse filed separate

taxed to the trust under section 644 in

these laws and to allow us to figure and

returns, enter the name and SSN of the

the amount entered on line 6. Enter

collect the right amount of tax.

person with the higher taxable income,

“Section 644” and the amount to the

even if that person is not the child’s

The time needed to complete and file

right of the line 6 entry. Also, see the

parent.

this form will vary depending on

instructions for line 10.

individual circumstances. The estimated

Note: If the parents were unmarried but

Line 9.—Figure the tax using the Tax

average time is: Recordkeeping,

lived together dur ing the year with the

Table, Tax Rate Schedules, or the

13 min.; Learning about the law or the

child, enter the name and SSN of the

Capital Gain Tax Worksheet, whichever

form, 12 min.; Preparing the form,

parent who had the higher taxable

applies. If any net capital gain is

45 min.; and Copying, assembling, and

income.

included on lines 5, 6, and/or 7, the tax

sending the form to the IRS, 17 min.

Line 1.—If the child had no earned

on the amount on line 8 may be less if

If you have comments concerning the

income (defined later), enter the child’s

the Capital Gain Tax Worksheet can be

accuracy of these time estimates or

adjusted gross income from Form 1040,

used to figure the tax. See Pub. 929 for

suggestions for making this form

line 32; Form 1040A, line 17; or Form

details on how to figure the net capital

simpler, we would be happy to hear from

1040NR, line 32.

gain included on line 8 and how to

you. You can write to both the IRS and

If the child had earned income, use

complete the worksheet. The Capital

the Office of Management and Budget

the following worksheet to figure the

Gain Tax Worksheet should be used to

at the addresses listed in the

amount to enter on line 1. But if the

figure the tax if:

instructions of the tax return with which

this form is filed.

Printed on recycled paper

Tax For Children Under Age 14 (Form 8615 1994) Page 2

Related Articles

Related forms

Related Categories