Form 8615 PDF Details

Form 8615 is used to report taxes on qualified dividends and capital gains for individuals. The form is also used to determine if you are eligible for the reduced tax rates on, dividends and long-term capital gains. This article will provide an overview of Form 8615, including how to file it, who needs to file it, and when it is due. Form 8615 is used by taxpayers reporting qualified dividends and capital gains from taxable securities and mutual fund shares sold during the year. Eligible taxpayers may be able to claim a reduced tax rate on their qualifying dividends and long-term capital gains. Generally, the Form 8615 must be attached to your federal income tax return (Form 1040) if you: 1) received more than $1,000 in qualified dividends or 2) had net long-term capital gain of more than $1,500 from sales of taxable securities during the year." Who needs to file Form 8615? When is it due? Get answers to these questions and more in this article.

QuestionAnswer
Form NameForm 8615
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesOMB, 12a, Worksheet, 1040A

Form Preview Example

Form 8615

 

TAX FOR CERTAIN CHILDREN WHO

OMB No. 1545-0074

 

 

 

 

HAVE UNEARNED INCOME

2013

Department of the Treasury

 

▶ Attach only to the child's Form 1040, Form 1040A, or Form 1040NR.

Attachment

 

 

▶ Information about Form 8615 and its separate instructions is at www.irs.gov/form8615.

Internal Revenue Service (99)

 

Sequence No. 33

Child’s name shown on return

 

Child's social security number

 

 

 

 

 

Before you begin: If the child, the parent, or any of the parent’s other children for whom Form 8615 must be filed must use the Schedule D Tax Worksheet or has income from farming or fishing, see Pub. 929, Tax Rules for Children and Dependents. It explains how to figure the child’s tax using the Schedule D Tax Worksheet or Schedule J (Form 1040).

A Parent’s name (first, initial, and last). Caution: See instructions before completing.

 

 

 

 

B Parent’s social security number

 

 

 

 

 

 

 

 

 

 

 

C Parent’s filing status (check one):

 

 

 

 

 

 

 

 

 

 

Single

Married filing jointly

Married filing separately

Head of household

 

Qualifying widow(er)

 

 

 

 

 

 

 

 

 

 

Part I

 

Child’s Net Unearned Income

 

 

 

 

 

 

 

 

1

Enter the child’s unearned income (see instructions)

. . . . . . . . .

1

 

 

2

If the child did not itemize deductions on Schedule A (Form 1040 or Form 1040NR), enter

 

 

 

 

$2,000. Otherwise, see instructions

. . . . . . . . .

2

 

 

3

Subtract line 2 from line 1. If zero or less, stop; do not complete the rest of this form but do

 

 

 

 

attach it to the child’s return

. . . . . . . . .

3

 

 

4

Enter the child’s taxable income from Form 1040, line 43; Form 1040A, line 27; or Form 1040NR,

 

 

 

 

line 41. If the child files Form 2555 or 2555-EZ, see the instructions .

. . . . . . . . .

4

 

 

5

Enter the smaller of line 3 or line 4. If zero, stop; do not complete the rest of this form but do

 

 

 

 

attach it to the child’s return

. . . . . . . . .

5

 

 

Part II

 

Tentative Tax Based on the Tax Rate of the Parent

 

 

 

 

 

 

 

 

6

Enter the parent’s taxable income

from Form 1040, line 43; Form 1040A, line 27; Form 1040EZ,

 

 

 

 

line 6; Form 1040NR, line 41; or Form 1040NR-EZ, line 14. If zero or less, enter -0-. If the parent

 

 

 

 

files Form 2555 or 2555-EZ, see the instructions

. . . . . . . . .

6

 

 

7

Enter the total, if any, from Forms 8615, line 5, of all other children of the parent named above.

 

 

 

 

Do not include the amount from line 5 above

. . . . . . . . .

7

 

 

8

Add lines 5, 6, and 7 (see instructions)

. . . . . . . . .

8

 

 

9

Enter the tax on the amount on line 8 based on the parent’s filing status above (see instructions).

 

 

 

 

If the Qualified Dividends and Capital Gain Tax Worksheet, Schedule D Tax Worksheet, or

 

 

 

 

Schedule J (Form 1040) is used to figure the tax, check here . . . .

. . .

. .

▶

9

 

 

10

Enter the parent’s tax from Form 1040, line 44; Form 1040A, line 28, minus any alternative

 

 

 

 

minimum tax; Form 1040EZ, line 10; Form 1040NR, line 42; or Form 1040NR-EZ, line 15. Do not

 

 

 

 

include any tax from Form 4972 or 8814 or any tax from recapture of an education credit. If the

 

 

 

 

parent files Form 2555 or 2555-EZ, see the instructions. If the Qualified Dividends and Capital

 

 

 

 

Gain Tax Worksheet, Schedule D Tax Worksheet, or Schedule J (Form 1040) was used to figure

 

 

 

 

the tax, check here

. . .

. .

▶

10

 

 

11

Subtract line 10 from line 9 and enter the result. If line 7 is blank, also enter this amount on line

 

 

 

 

13 and go to Part III

. . . . . . . . .

11

 

 

12a

Add lines 5 and 7

12a

 

 

 

 

 

 

 

b

Divide line 5 by line 12a. Enter the result as a decimal (rounded to at least three places) . . . .

12b

× .

 

13

Multiply line 11 by line 12b

. . . . . . . . .

13

 

 

Part III

Child’s Tax—If lines 4 and 5 above are the same, enter -0- on line 15 and go to line 16.

 

 

14

Subtract line 5 from line 4

14

 

 

 

 

 

 

 

15

Enter the tax on the amount on line 14 based on the child’s filing status (see instructions). If

 

 

 

 

the Qualified Dividends and Capital Gain Tax Worksheet, Schedule D Tax Worksheet, or

 

 

 

 

Schedule J (Form 1040) is used to figure the tax, check here . . . .

. . .

. .

▶

15

 

 

16

Add lines 13 and 15

. . . . . . . . .

16

 

 

17

Enter the tax on the amount on line 4 based on the child’s filing status (see instructions). If

 

 

 

 

the Qualified Dividends and Capital Gain Tax Worksheet, Schedule D Tax Worksheet, or

 

 

 

 

Schedule J (Form 1040) is used to figure the tax, check here . . . .

. . .

. .

▶

17

 

 

18

Enter the larger of line 16 or line 17 here and on the child’s Form 1040, line 44; Form 1040A,

 

 

 

 

line

28; or Form 1040NR, line 42. If the child files Form 2555 or 2555-EZ, see the

instructions . .

18

 

 

For Paperwork Reduction Act Notice, see your tax return instructions.

Cat. No. 64113U

Form 8615 (2013)

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