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Mgconslts
Returning Member

Kiddie Tax question

I have a question involving the kiddie tax for a friend. They do their taxes in TurboTax. In the form 8615 worksheet, it asks was the child either 18 years old or a full-time student age 19 to 23 with unearned income more than $2,200 and their earned income did not exceed ½ of their support? Can they answer no which would save a lot? The child was in this age range and a full-time student; their unearned income was more than $2,200 from an inheritance of a taxable annuity; their earned income does not exceed ½ of their support. The child is listed as a dependent on their parents’ return.

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1 Reply
AmyC
Expert Alumni

Kiddie Tax question

You must answer yes since the unearned income is more than $2,200. Unearned income above $2,200 is taxed. See What is the Kiddie Tax? The child would be listed on the return as a dependent.

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