Instructions for Form 8615 state:
Form 8615 must be filed for any child who meets all of the following conditions.
The child had more than $2,600 of unearned income.
The child is required to file a tax return.
The child either:
Was under age 18 at the end of 2024,
Was age 18 at the end of 2024 and didn’t have earned income that was more than half of the child's support, or
Was a full-time student at least age 19 and under age 24 at the end of 2024 and didn’t have earned income that was more than half of the child's support.
(Earned income is defined later. Support is defined below.)
At least one of the child's parents was alive at the end of 2024.
The child doesn’t file a joint return for 2024.
Saving for College states: Cash support includes money and gifts to the student, as well as money paid to someone else on the student’s behalf. Cash support also includes payment of bills for housing, food, clothing, car payments, medical and dental care, and college costs that the student is responsible for paying.
As @DianeW777 stated, the money in a savings account does not count for support.
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