Parent'S Election To Report Child'S Interest And Dividends Form 8814 (1991)
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28814
Parent’s Election To Report Child’s Interest and Dividends
OMB No. 1545-1128
Form
See instructions below and on back.
Attachment
Department of the Treasury
40
Attach to Parent’s Form 1040 or Form 1040NR.
Sequence No.
Internal Revenue Service
General Instructions
Had no estimated tax payments for
How To Make the Election. To make
1991.
the election, complete and attach Form
Purpose of Form. Use this form if you
Did not have any overpayment of tax
8814 to your tax return and file your
are a parent and choose to report the
shown on his or her 1990 return applied
return by the due date (including
income of your child on your return. If
to the 1991 return.
extensions). A separate Form 8814 must
you do, the child will not have to file a
be filed for each child whose income
Had no Federal income tax withheld
return. You can file this form if your child
you choose to report.
from his or her income (backup
meets all of the following conditions:
withholding).
Caution: The Federal income tax on
Was under age 14 on January 1,
The parent(s) must also qualify as
your child’s income may be less if you
1992.
explained on page 2 of these
file a tax return for the child instead of
Had income only from interest and
instructions.
making this election. This is because you
dividends (including Alaska Permanent
Step 1 is used to figure the amount of
cannot take certain deductions that your
Fund dividends).
the child’s income to report on the
child would be entitled to on his or her
parent’s return. Step 2 is used to figure
own return. For details, see Deductions
Had gross income for 1991 that was
an additional tax that must be added to
You May Not Take on page 2.
more than $500 but less than $5,000.
the parent’s tax.
(Instructions continue on back.)
Name(s) shown on parent’s return
Your social security number
Child’s name (first, initial, and last)
Child’s social security number
Caution: If more than one Form 8814 is attached, check here
Figure amount of child’s interest and dividend income to report on your return
Step 1
1a
Enter your child’s taxable interest income. If this amount is different from the amounts shown
1a
on the child’s Forms 1099-INT and 1099-OID, see the instructions
b Enter your child’s tax-exempt interest
income. DO NOT include this amount
1b
on line 1a
2a Enter your child’s gross dividends (including any Alaska Permanent
Fund dividends). If none, enter -0- on line 2c and go to line 3. If your
child received any capital gain distributions or dividends as a
2a
nominee, see the instructions
b Enter your child’s nontaxable distributions (from Form 1099-DIV, Box
2b
1d) included on line 2a
2c
c
Subtract line 2b from line 2a
3
Add lines 1a and 2c. If the total is $1,000 or less, skip lines 4 and 5 and go to line 6. If the
total is $5,000 or more, do not file this form. Your child must file his or her own return to report
3
the income
4
4
Base amount
1,000
00
5
Subtract line 4 from line 3. (If filing more than one Form 8814 or if line 2a includes any capital
gain distributions, see the instructions.) Also include this amount in the total on Form 1040,
line 22, or Form 1040NR, line 22. In the space next to line 22, enter “Form 8814” and show
5
the amount. Go on to line 6 below
Figure your tax on the first $1,000 of child’s interest and dividend income
Step 2
6
500
00
6
Amount not taxed
7
7
Subtract line 6 from line 3. If the result is zero or less, enter -0-
8
Tax.
If the amount on line 7 is $500 or more, enter $75 here. (Also, see the Note
below.)
8
If the amount on line 7 is less than $500, multiply the amount on line 7 by
15% (.15) and enter the result here. (Also, see the Note below.)
Note: Include the amount from line 8 in the tax you enter on Form 1040, line 38, or Form
1040NR, line 36. On Form 1040, also enter the amount from line 8 in the space provided
next to line 38. On Form 1040NR, enter the amount from line 8 in the space provided next
to line 36. (If filing more than one Form 8814, see the instructions.)
8814
For Paperwork Reduction Act Notice, see back of form.
Cat. No. 10750J
Form
(1991)
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