Form 8615 Kiddie tax

[johnsantaclara]

Hi there,

I am 23 old student, don't have income, but I have some dividents+Interest from deposits my mom made in my name before 2018 which is coming to ~$4000. While filing via TT free file, I was prompted to fill 8615, which prompts me for my mom's info whether I choose Yes Or No for " Would you like to calculate your tax based on pre-TCJA rules?" 

I am wondering why am I being asked for parents info, as I thought choosing "No" for above should not depend on parent ? .Please also advise, if I should wait till mom files her tax return to get that info as below . Thank you.

When I chose "Fix state tax return" or "Fix Federal Tax Return", it says:

"Form 3800 : Line 10 must be entered: line 10:

10 Enter the parent's tax from Form 540, line 31. Form 540NR filers: use the

      Line 10 Smart Worksheet above. Do not include any tax from FTB 3803.

[ColeenD3]

If you are under age 24, a student and you have unearned income over $2,200, you are required to file Form 8615.

Tax for Certain Children Who Have Unearned Income

Use Form 8615, Tax for Certain Children Who Have Unearned Income (PDF) to figure your tax on unearned income over $2,200 if you're under age 18, and in certain situations if you're older (see below). Attach Form 8615 to your tax return if all of the following conditions are met.

1. Your unearned income was more than $2,200.
2. You meet one of the following age requirements:

• a. You were under age 18 at the end of the tax year,
• b. You were age 18 at the end of the tax year and you didn't have earned income that was more than half of your support, or
• c. You were a full-time student at least age 19 and under age 24 at the end of the tax year and you didn't have earned income that was more than half of your support.

1. At least one of your parents was alive at the end of the tax year.
2. You're required to file a tax return for the tax year.
3. You don't file a joint return for the tax year.

[johnsantaclara]

Thank you. I understand that I have to file 8615. My question is about Turbotax on why I am being asked for parents info when I choose No to that question as I understand that Kiddie tax doesn't depend on parents tax info

[KatrinaB48]

You are required to enter your parent's income tax information because it is used to calculate the amount of tax due. When filing your return you are required to report your parent's information as stated below:

• If your parents filed a joint return then you enter the parent that appears first on the joint return.
• If your parents filed separate tax returns then you use the parent with the highest taxable income information.
• If your parents are divorced, then you enter your custodial parent's information.

Please view this TurboTax Page for more information about figuring the tax on form 8615. 

[ttlongtimeuser]

California did not conform to TCJA changes for child's unearned income exceeding $2,200, so the form CA 3800 still requires parent's income to calculate CA tax