topic Form 8615 is Tax for Certain Children Who Have Unearned I... in After you file

I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is 1099 music. How can I find it on Turbo Tax?

jsdjd — Wed, 05 Jun 2019 04:12:13 GMT

Form 8615 is Tax for Certain Children Who Have Unearned I...

AshleyRose — Wed, 05 Jun 2019 04:12:14 GMT

Form 8615 is Tax for Certain Children Who Have Unearned Income. To find Form 8615 please follow the steps below. I have also included additional information as it pertains to Form 8615 if needed below.

Login to your TurboTax Online account.
Select the “Take me to my return” button.
Click on “Tax Tools” on the left menu bar.
Select "Tools".
Click on "Topics Search"
Type in 8615 and you should see this topic now highlighted in the list, click the "Go" button to step through the interview process and review/edit your entries.

Additional Information:

In General, the first $1,050 worth of a child's unearned income is tax-free. The next $1,050 is taxed at the child's income tax rate for 2017. Anything above $2,100, however, is taxed at the rate that applies to the child's parents, which usually is higher than the child's rate. This tax treatment has gained a nickname: the "kiddie tax." Calculating how much tax applies to the child's income is the purpose of Form 8615

How do I report my child's investment income?

https://ttlc.intuit.com/replies/4790655

See this link for additional information about Form 8615. https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Forms/What-is-IRS-Form-8615--Tax-for-Certain-...

Hello. I do not have a child or dependent. I selected no...

zackcannonzk — Wed, 05 Jun 2019 04:12:15 GMT

Hello. I do not have a child or dependent. I selected no and the review STILL has me go back every time and edit the 8615

Re: Hello. I do not have a child or dependent. I selected no...

wogga — Thu, 02 Jan 2020 01:31:43 GMT

For anyone else wading through the Form 8615 with Turbotax, it was important for me to discover I think you must go into the 'forms' part instead of the 'step by step' part of the software.

Once looking at the 8615 forms, you have to right click (on Microsoft PCs, anyway) and click "override", at which point you can control the form's calculation of whether you want the form to say "YES" or "NO" to this, the kiddie tax.

My TT had assigned the return to 8615/Kiddie tax=NO, but in the case of the return I'm doing for a college student family member, I determined that the person DID have to file 8615 with YES. After I did that, the correct kiddie tax was applied. Oh Joy! BTW I'm using the stand-alone Premier product and I'm not a tax professional.

turbotax keeps sending message government has not released form 8516 yet. when is it going to be released so i can finish doing taxes

cha41lil — Thu, 05 Mar 2020 18:04:44 GMT

tur

Re: Hello. I do not have a child or dependent. I selected no...

cha41lil — Thu, 05 Mar 2020 18:06:11 GMT

turbotax keeps stating the government has not released form 8516 yet..I need that form to complete my e-file

when is it slated to be released

Re: turbotax keeps sending message government has not released form 8516 yet. when is it going to...

TerukoL — Thu, 05 Mar 2020 18:24:18 GMT

Do you mean form 8615? Form 8615 will be available on 03/06/2020.

Please click TurboTax Federal Individual Form Availability to learn more.

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is 1099 music. How can I find it on Turbo Tax?

ChipD — Tue, 23 Feb 2021 00:07:13 GMT

I believe the unearned income calculation on the 8615 to be incorrect for TY 2020. I've read the first $2200 is tax free, then the next $2650 is taxed at 10%. Turbo tax is not doing this

https://ttlc.intuit.com/community/income/help/what-is-the-kiddie-tax/00/25913

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is 1099 music. How can I find it on Turbo Tax?

ChipD — Tue, 23 Feb 2021 00:06:32 GMT

https://ttlc.intuit.com/community/income/help/what-is-the-kiddie-tax/00/25913

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is ...

ErnieS0 — Tue, 23 Feb 2021 03:34:45 GMT

To fill out Form 8615 in TurboTax:

Type child’s income in Search in the upper right
Click Jump to child’s income

For 2020, a child must file Form 8615 if all of the following conditions apply:

The child has more than $2,200 in unearned income
The child is required to file a tax return
The child does not file a joint tax return with a spouse
At least one of the child's parents is alive
The child is within certain age limits

Learn more at What is IRS Form 8615: Tax for Certain Children Who Have Unearned Income

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is ...

ChipD — Wed, 24 Feb 2021 00:44:20 GMT

as I did further research I have since found out the link I added above was for 2018-19 only. however I still believe Turbotax is calculating unearned income incorrectly for TY 2020.

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is ...

MaryM428 — Wed, 24 Feb 2021 03:30:41 GMT

If is sometimes better to file a separate tax return for your son's unearned income. You can use TurboTax Free File to file it at no cost if the amount of income he received qualifies. Try both ways to see which gives you the best return.

Here are the directions for reporting and paying the Kiddie Tax on your return.

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is ...

ChipD — Wed, 24 Feb 2021 03:58:18 GMT

I have filed a separate tax form for my son. I feel Turbo Tax is calculating the unearned income tax incorrectly. he has unearned income over $2200. I understand the first $1100 is not taxed. how is the remaining unearned income taxed? I know I have to enter my income and it s/b at my rate but it does not seem that turbo tax is doing that.

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is ...

SForrestLO — Wed, 24 Feb 2021 17:46:40 GMT

@ChipD

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Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is ...

ChipD — Wed, 24 Feb 2021 21:46:53 GMT

Can someone answer my question above. How is unearned income taxed for a dependent on his own form if he has more than $2200 in unearned income?

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is ...

MaryM428 — Wed, 24 Feb 2021 22:04:05 GMT

You can include your child's unearned income on your tax return or you can file a separate tax return for the child. If the income requirements are met a return can be filed for no cost by using TurboTax Free File.

Here are the instructions for reporting your child's unearned income.

In 2020 many parents will have children with unearned income due to the pandemic unemployment payments.

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is ...

ChipD — Thu, 25 Feb 2021 01:34:14 GMT

thank you Mary for replying but you are not answering my question. I agree especially this year there will be thousands of people in this situation and will have not idea how the dependent will be taxed. The question is, in a high level how is the unearned income being taxed for a child that has over $2200 in unearned income?

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is ...

kip20 — Thu, 25 Feb 2021 22:19:16 GMT

FYI - turbotax didn't solve this issue and doesn't acknowledge that it is an issue. Use a different tax software - it will calculate correctly.

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is ...

kip20 — Thu, 25 Feb 2021 22:22:25 GMT

Oops. Forgot to include the numbers:

First $2200 of unearned income should be taxed at 0%.

Income after that will be taxed at whatever it would have been taxed at the parents rate.

Re: I do not see form 8615 on Turbo Tax. I need it to file my sons u earned income. All I see is ...

ChipD — Fri, 26 Feb 2021 01:46:28 GMT

thanks Kip20. I wish it was that simple. if what you said is true then turbo tax certainly has an issue. where are all the tax experts? this will be the hottest topic and thread this year. who's going to stand up?