Form 8615 still not available
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Level 2

Form 8615 still not available

Form 8615 is still not available and the availability date has changed multiple times.  When will this form be available?

7 Replies
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Expert Alumni

Form 8615 still not available

Unfortunately, the release date for Form 8615 has been moved to March 6.  We do apologize for the inconvenience--we are working to release the form as soon as we can.

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Level 2

Form 8615 still not available

I hope that TT let's us know when we have to find another means to file our tax return because of this 8615 issue.  The date keeps moving closer to April 15th!  Very disappointed this year.  

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Expert Alumni

Form 8615 still not available

Form 8615, Tax for Certain Children who have Investment Income is expected to be available on 03/06/2020. 

The IRS has to finalize and approve the form before the form is available on TurboTax.

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Returning Member

Form 8615 still not available

I am using Windows Desktop version.

 

I have two kids who need to file Form 8615.  For each kid, I need to enter the Net Qualified Dividends, Total Net Capital Gain, and Net Capital Gain of the other kid.  These information should available from the other children's 8615 Worksheet, page 2 Line 5 Worksheet.

 

However, 8615 Worksheet, page 2 Line 5 Worksheet is not available when I click YES to the question "Would you like to calculate your tax based on pre-TCJA rules?"  When I click NO to this question, I was able to see the worksheet for one of the two kids.  Please tell me what to do.

 

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Expert Alumni

Form 8615 still not available

It depends. The rules following the Tax Cuts and Jobs Act are more favorable than the pre-TCJA rules for Form 8615. For more information, click on the article: SECURE Act Retroactive Change to Kiddie Tax

In general, to report your children's unearned income on your return, follow these steps: How do I report my child's investment income?

 

 

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Level 2

Form 8615 still not available

The form was released, but the non-pre-TCJA form seems to be reporting a tax of $0 on Form 8615 line 7. but then the Line 7 Worksheet form has the correct tax value. This seems the be a software issue, the tax can't possibly be $0. How do I fix this? Wait for a software update or can I manually override?

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Expert Alumni

Form 8615 still not available

Something to understand.  If you choose the Pre-TCJA rate on the screen ( parents' rates), your parent's qualified dividends and capital gain information are relevant in the calculation.  Therefore, you will see the Qualified Dividends and Net Capital Gain worksheet line 5 information.  However, if you do not choose the Pre-TCJA rate, it will be calculated with the estate and trust rate.  Your parent's qualified dividends and capital gain information would not matter.  Thus, you will not see the worksheet line 5 related information.  

 

@confused_me

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