Tax For Children Under Age 18 (Form 8615)
Form 8615 is used to figure your child’s tax on unearned income if the child is under 18, has over $2000 in unearned income and meets all of the following conditions, at which case the child’s unearned income is taxed at the parent’s tax rate if the parent’s rate is higher than the child’s.
If the child meets all of these conditions, Form 8615 must be filed:
- The child had more than $2000 in unearned income
- The child is required to file their own tax return
- The child must either be under 18 at the end of the tax year, was 18 at the end of the tax year and did not have earned income that attributed to more than half of their own support, or, the child was over 18 but under age 24, in school full-time, and did not provide more than half of their own support through earned income.
- At least one of the child’s parent was living at the end of the tax year
- For the tax year in question the child does not file a joint return.
To view form 8615 and its instructions, click here
For more information on Tax Rules for Children and Dependents, click here