The income calculation is tricky with the Form 8615 and several worksheets that go with it. Instructions for Form 8615 and Form 8615. After much, you come to Line 13 which shows:
Figuring the Child's Tax
The final step in figuring the child’s tax is to determine the larger of:
1. The total of:
a. The child’s share of the tentative tax based on the parent's
tax rate, plus
b. The tax on the child’s taxable income in excess of net
unearned income, figured at the child’s tax rate; or
2. The tax on the child’s taxable income, figured at the child’s tax
rate.
This is the child’s tax. It is figured on Form 8615, lines 14 through
18.
Since we can't see all the worksheets, I suggest you preview your tax return and look at Form 8615 and its worksheets to determine how it calculated the answer. If your parents are high income and your income is being taxed at their rate, it could cause this tax difference.
To see your forms:
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
