What income did your son receive? Was there anything other than W-2 and the 1099-NEC?
Unearned Income for purposes of Form 8615
Unearned income includes all taxable income other than earned income. Unearned income includes taxable interest, ordinary dividends, capital gains (including capital gain distributions), rents, royalties, etc. It also includes taxable social security benefits, pension and annuity income, taxable scholarship and fellowship grants not reported on Form W-2, unemployment compensation, alimony, and income (other than earned income) received as the beneficiary of a trust.
Who Must File Form
IRS Form 8615 must be filed for any child who meets all of the following conditions.
- 1. The child had more than $2,200 of unearned income.
- 2. The child is required to file a tax return.
- 3. The child either:
- a. Was under age 18 at the end of 2020,
- b. Was age 18 at the end of 2020 and didn’t have earned income that was more than half of the child's support, or
- c. Was a full-time student at least age 19 and under age 24 at the end of 2020 and didn’t have earned income that was more than half of the child's support.
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