topic TurboTax doesn't generate Form 8615 in Get your taxes done using TurboTax

TurboTax doesn't generate Form 8615

powell2 — Wed, 17 Sep 2025 17:25:37 GMT

My child received a 1099-B with Total Proceeds > $8000. However, he has a Realized Loss of -$140. If I understand correctly, I have to file taxes for him since I can't add his 1099-B to my taxes. (I filed an extension for him because we hadn't yet received a K-3.)

It also looks like he meets all the requirements to file a Form 8615. His unearned income (which I understand is gross unearned income) is > $2600. However, it looks like the TurboTax Form 8615 shows his "Net Capital Gain" to be 0. So even though he meets the requirements to file a form, since the Net Capital Gain is 0, then is no form is needed? I see a Form 8615 Worksheet, but no Form in TurboTax.

Thanks!

Re: TurboTax doesn't generate Form 8615

Bsch4477 — Wed, 17 Sep 2025 19:00:32 GMT

Kiddie tax doesn’t apply since he had no net unearned income.

Re: TurboTax doesn't generate Form 8615

AmeliesUncle — Wed, 17 Sep 2025 22:34:43 GMT

The "proceeds" are not income. Only the gain/loss is "income". In your child's case, their gross income is negative $140 (plus any other income he may have).

Unless he has other income, he isn't even required to file a tax return (assuming the 1099-B shows the Basis of the sale).

Re: TurboTax doesn't generate Form 8615

powell2 — Thu, 18 Sep 2025 18:50:00 GMT

Thanks! Good to know for the future. The 1099-B has the cost basis. However, based on previous feedback on a thread titled, "How to handle a 1099B for a custodial account," it appeared that I had to file separately for my son. I can't figure out how to attach that thread on here.

Re: TurboTax doesn't generate Form 8615

AmeliesUncle — Thu, 18 Sep 2025 18:57:11 GMT

For capital gains, "gross income" means the gain, not the proceeds.

If the gain had been enough that he had to file, yes, he would need his own tax return (you couldn't report it on your return.

Re: TurboTax doesn't generate Form 8615

Bsch4477 — Thu, 18 Sep 2025 19:52:03 GMT

Since he has a loss you might want to file a return for him to carry it forward. If his AGI is zero give him a dollar of interest to enable e-filing or mail the return.