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Im having to file a form 8615 for the first time but i am not sure as to why this year around. I am 21 years old and worked as well as went to school like previous years but I’m confused as to wh

 
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4 Replies
Irene2805
Expert Alumni

Im having to file a form 8615 for the first time but i am not sure as to why this year around. I am 21 years old and worked as well as went to school like previous years but I’m confused as to wh

Check your entries for unearned income [like interest, dividends, capital gains, rents & royalties].  If it exceeded $2,200, that would trigger Form 8615.

 

Form 8615 must be filed for anyone who meets all of the following conditions:

 

1. You had more than $2,200 of unearned income

2. You are required to file a tax return.

3. You were either:

  • Under age 18 at the end of 2019,
  • Age 18 at the end of 2019 and didn’t have earned income that was more than half of your support, or
  • A full-time student at least age 19 and under age 24 at the end of 2019 and didn’t have earned income that was more than half of your support. [Earned income is anything that is not considered unearned income.]

4. At least one of your parents was alive at the end of 2019.

5. You don’t file a joint return for 2019. 

Im having to file a form 8615 for the first time but i am not sure as to why this year around. I am 21 years old and worked as well as went to school like previous years but I’m confused as to wh

I did not have any unearned income which is why I am confused and I cannot seem to find anything if I might have accidentally hit yes instead of no 

Im having to file a form 8615 for the first time but i am not sure as to why this year around. I am 21 years old and worked as well as went to school like previous years but I’m confused as to wh

I did not have any unearned income which is why I am confused and I cannot seem to find anything if I might have accidentally hit yes instead of no 

JosephF8
Expert Alumni

Im having to file a form 8615 for the first time but i am not sure as to why this year around. I am 21 years old and worked as well as went to school like previous years but I’m confused as to wh

What is unearned income?

Unearned income is income that doesn't involve active work or a business activity, such as:

  • Taxable scholarships
  • Interest, dividend, or investment income
  • Retirement or Social Security income
  • Alimony or child support
  • Unemployment or worker's comp
  • Gifts, prizes, awards, or winnings
  • Inheritances
  • Income received while incarcerated, even if it involves active work

The taxable scholarship might apply to your situation.

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