Endless loop on Form worksheet 8615 and completion of Schedule D for dependent children filing separately

[shanleigh]

I have 2 dependent children (under 18 years) that both have unearned income from the sale of stocks (both long-term & short-term). Besides reporting my own Taxable income, each requires that I report the other sibling's:

Form 8615, Line 4

Form 8615, Line 5

Net Qualified Dividends

Total Net Capital Gain

Net Capital Gain

I *think* I have the correct line 4&5 by going in to forms and writing down what I saw on 1 kid and reporting it on the other (saving & backing out), but the other lines are blank because I think it grabs from a completed 1040 and I can't complete a 1040 for either without inputting this information. Help! Where can I get these numbers? is this the dividends that I entered for 1099-DIV? Is total net cap gain = Div+ Int+1099-B totals? 

[PattiF]

If a child's income includes a 1099-B, sale of securities. This will need to go on a separate tax return for the child. Enter the 1099-B along with their other unearned income on theirr tax return.

In fact, you can only report her unearned income on your return if the only income she had for the year was interest, dividends, and capital gains distributions (reported on a 1099-DIV).

Please see Figure 1 in IRS Publication 929, Tax Rules for Children and Dependents

[shanleigh]

Yes, @PattiF , both children are filing their own returns. On each Child's return, I am required to report not only my taxable income, but also information about their sibling's unearned income from the sale of stocks. The problem is I have to "complete" Child A's 1040 to get the information required to be reported on Child B's Schedule D and Form 8615. I cannot complete Child A's 1040 without providing information form Child B's Schedule D & Form 8615. And Vice Versa. SO, I need to figure out the required numbers listed above without using TurboTax to guide me. Hence, my questions:

Where can I get these numbers for

Net Qualified Dividends

Total Net Capital Gain

Net Capital Gain

is "Net Qualified Dividends" the dividends that I entered for 1099-DIV? Is "Total Net Cap Gain" =1099-Div+ 1099-Int+1099-B totals? What is the difference between  "Total Net Cap Gain" and "Net Capital Gain"?