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Get your taxes done using TurboTax
Form 8615, Tax for Certain Children Who Have Unearned Income, is for the so-called Kiddie Tax.
"Form 8615 must be filed for anyone who meets all of the following conditions.
- You had more than $2,200 of unearned income.
- You are required to file a tax return.
- You were either: a. Underage 18 at the end of 2019, b. Age 18 at the end of 2019 and didn’t have earned income that was more than half of your support, or c. A full-time student at least age 19 and under age 24 at the end of 2019 and didn’t have earned income that was more than half of your support. (Earned income is defined later. Support is defined below.)
- At least one of your parents was alive at the end of 2019.
- You don’t file a joint return for 2019.
These rules apply if you’re legally adopted or a stepchild. These rules also apply whether or not you’re a dependent. These rules don’t apply if neither of your parents were living at the end of the year."
Find more info here.
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February 3, 2020
10:00 AM