You can report your child’s UNEARNED income on your tax return by filing Form 8814, Parent's Election to Report Child's Interest and Dividends.
- To get to Form 8814 in TurboTax, type Form 8814 in Search. Hit enter. Click on Jump to form 8814.
Use Form 8814 if all you child’s only income was from interest and dividends, including capital gain distribution and Alaska Permanent Fund dividends.
If you elect not to report your child's income on your return, or you don't qualify to use Form 8814, the child must file their own return. In addition, your child may be required to file Form 8615, "Tax for Certain Children Who Have Unearned Income" as part of their income tax return.
Your child will file a return if:
- They had only unearned income (interest, dividends, capital gains) of more than $1,100;
- They had only earned income (wages, salaries, tips, fees) of more than $12,400; or
- They were self-employed with $400 or more income.
In cases of mixed income (earned and unearned), file a return if:
- Unearned income was more than $350, and gross income of more than $1,100, or
- Unearned income was $350 or less, and gross income of more than $12,400
If your child is age 18 or younger, or a full time student age 19 - 23, and required to file a return, you may be able to report their income on your return using Form 8814, "Parents' Election to Report Child's Interest and Dividends." If you report their income on your return, the child is not required to file their own return.
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