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tam9
Level 2

Form 8615 Unearned Income / dependent

My daughter is a full time college student (20 years old), dependent, single, income with $2,800.

On her tax return (online preparation), Form 8615 is attached and the income is now $5,800 (2,800 +3,000). Just being a dependent, the income, $3,000,Form 8615
Tax for Certain Children Who Have Unearned Income will be added?
Is this correct?

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4 Replies
LeonardS
Expert Alumni

Form 8615 Unearned Income / dependent

If  any of the following apply to your daughter TurboTax will generate a Form 8615.

  • If she is younger than age 19 or a full-time student age 19-23,  she must file a tax return for 2019 if he or she had any of the following:
  • Unearned income (interest, dividends, capital gains, taxable scholarships, unemployment compensation) of more than $1,050.
  • Earned income (wages, salaries, tips, and fees) of more than $12,200.
  • Gross income (earned and unearned income) was more than the larger of:  $1,050 or earned income (up to $12,000) plus $350

 

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tam9
Level 2

Form 8615 Unearned Income / dependent

Thank you so much for your reply.

But could you explain where $3,000 come from? Is it a default amount?

LeonardS
Expert Alumni

Form 8615 Unearned Income / dependent

The $3,000 is not a default amount.  Your daughter should  review her tax return to insure that all the data was entered correctly and no incorrect amounts were entered.

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julpatmoo
Returning Member

Form 8615 Unearned Income / dependent

I found an error in the calculations associated with Form 8615.  This problem was substantiated in a reply from Intuit on 3/25/2020 stating they are aware of the problem.

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