My 19-year-old child is a full-time student by the end of 2024. He only has $400 in interest and $200 in 2024. No other income. Do I need to file Form 8814? I looked at the instruction, it says :
" You can make this election if your child meets all of the following conditions.
• The child was under age 19 (or under age 24 if a full-time
student) at the end of 2024. Full-time student is defined below.
• The child’s only income was from interest and dividends,
including capital gain distributions and Alaska Permanent Fund
dividends.
• The child’s gross income for 2024 was less than $13,000.
•
The child is required to file a 2024 return.
For the one '
The child is required to file a 2024 return."- since he does not have any other income, and his interest and dividend amount is low,
1. Is he required to file a tax return?
2. If he does not need to file, does that mean I don't need to file form 8814?
Thank you!
The Child does not need to file a tax return and you do not need to complete a Form 8814 for your tax return. His income is below the minimums required to file.
Thank you! So this amount (400+200) does not need to be reported at all, correct?
@tianwaifeixian wrote:
Thank you! So this amount (400+200) does not need to be reported at all, correct?
Correct.