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Level 15
Level 15

Retirement tax questions

What are you "fixing" in your tax return? Are you adding unearned income, such as investment income? Unearned income is basically any income that wasn't from working. If your total unearned income is $2,200 or less you do not have to fill out Form 8615. If the changes you are making put your total unearned income over $2,200, then you have to fill out Form 8615. Your unearned income over $2,200 is taxed at your parents' tax rate. Obviously, in order to calculate the tax at your parents' rate, TurboTax needs information from your parents' tax return.


The tax at your parents' tax rate is commonly called "kiddie tax" from the days when it only applied to children under 14. The age limit has been raised to where it can apply to adult children who are still in school, but the name has stuck.