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Publication 929, Tax Rules for Children and Dependents

• Important Changes
• Important Reminders
• Part 1. Rules for All Dependents
• Filing Requirements
  • Earned Income Only
  • Unearned Income Only
  • Earned and Unearned Income
  • Other Filing Requirements

• Who Should File?
• Responsibility for Child's Return
• Standard Deduction
  • Standard Deduction of Zero

• Dependent's Own Exemption
• Withholding From Wages
• Part 2. Tax on Investment Income of Child Under 14
  • Which Parent's Return To Use

• Parent's Election To Report Child's Interest and Dividends
  • Effect of Making the Election
  • Figuring Child's Income
  • Figuring Additional Tax
  • Illustrated Example

• Tax for Children Under Age 14 Who Have Investment Income of More Than $1,500
  • Providing Parental Information (Form 8615, Lines A-C)
  • Step 1. Figuring the Child's Net Investment Income (Form 8615, Part I)
    • Line 1 (Investment Income)
    • Line 2 (Deductions)
    • Line 3
    • Line 4 (Child's Taxable Income)
    • Line 5 (Net Investment Income)

  • Step 2. Figuring a Tentative Tax at the Parent's Tax Rate (Form 8615, Part II)
    • Line 6 (Parent's Taxable Income)
    • Line 7 (Net Investment Income of Other Children)
    • Line 8 (Parent's Taxable Income Plus Children's Net Investment Income)
    • Line 9 (Tax on Parent's Taxable Income Plus Children's Net Investment Income)
    • Line 10 (Parent's Tax)
    • Line 11 (Tentative Tax)
    • Lines 12a and 12b (Dividing the Tentative Tax)
    • Line 13 (Child's Share of Tentative Tax)

  • Step 3. Figuring the Child's Tax
    • Line 14 (Child's Taxable Income in Excess of Net Investment Income)
    • Line 15 (Tax on Child's Taxable Income in Excess of Net Investment Income)
    • Line 16 Combined Tax
    • Line 17 (Tax at Child's Rate)
    • Line 18 (Tax)

  • Alternative Minimum Tax
  • Illustrated Example

• How To Get Tax Help

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Index

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A

• Adjusted gross income
• Adjustments to income
• Alternative minimum tax
• Alternative minimum tax

C

• Capital gain distribution
• Capital gain distribution
• Child's investment income, Alternative minimum tax
• Child's investment income, tax on, Parent's election to report the income
• Child, Earnings of
• Child, Expenses of
• Child, IRS notice sent to
• Child, Responsibility for return of

D

• Dependent, Defined
• Dependent, Social security number

E

• Earned income
• Exemption
• Exemption
• Extension of time to file

F

• Filing requirements, 65 or older or blind
• Filing requirements, Spouse itemizes
• Form, 6251
• Form, 8615
• Form, 8615
• Form, 8814
• Form, W-4

G

• Gross income

I

• Important changes
• Important reminders
• Income, Earned
• Income, Unearned
• Investment income, Form 8615 used to figure tax on
• Investment income, Tax on child's
• Itemized deductions

N

• Net capital gain
• Net investment income

P

• Parent's return, Information for Form 8615
• Parent's return, Which parent's return to use

S

• Standard deduction
• Standard deduction
• Suggestions

T

• Tax year
• Taxable income
• Taxpayer Advocate
• Trust, income from
• Trust, income from
• TTY/TDD information

U

• Unearned income

W

• Who must file a return

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