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2011 1040x

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2011 1040x

2011 1040x 31. 2011 1040x   Tax on Unearned Income of Certain Children Table of Contents What's New Introduction Useful Items - You may want to see: Which Parent's Return To UseParents Who Do Not File a Joint Return Parent's Election To Report Child's Interest and DividendsEffect of Making the Election Figuring Child's Income Figuring Additional Tax Tax for Certain Children Who Have Unearned IncomeProviding Parental Information (Form 8615, lines A–C) Step 1. 2011 1040x Figuring the Child's Net Unearned Income (Form 8615, Part I) Step 2. 2011 1040x Figuring Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) Step 3. 2011 1040x Figuring the Child's Tax (Form 8615, Part III) What's New Net Investment Income Tax. 2011 1040x . 2011 1040x  For tax years beginning after December 31, 2012, a child whose tax is figured on Form 8615 may be subject to the Net Investment Income Tax (NIIT). 2011 1040x NIIT is a 3. 2011 1040x 8% tax on the lesser of the net investment income or the excess of the child's modified adjusted gross income (MAGI) over the threshold amount. 2011 1040x Use Form 8960, Net Investment Income Tax, to figure this tax. 2011 1040x For more information on NIIT, go to www. 2011 1040x irs. 2011 1040x gov and enter “Net Investment Income Tax” in the search box. 2011 1040x Introduction This chapter discusses the following two rules that may affect the tax on unearned income of certain children. 2011 1040x If the child's interest and dividend income (including capital gain distributions) total less than $10,000, the child's parent may be able to choose to include that income on the parent's return rather than file a return for the child. 2011 1040x (See Parent's Election To Report Child's Interest and Dividends , later. 2011 1040x ) If the child's interest, dividends, and other unearned income total more than $2,000, part of that income may be taxed at the parent's tax rate instead of the child's tax rate. 2011 1040x (See Tax for Certain Children Who Have Unearned Income , later. 2011 1040x ) For these rules, the term “child” includes a legally adopted child and a stepchild. 2011 1040x These rules apply whether or not the child is a dependent. 2011 1040x Useful Items - You may want to see: Publication 929 Tax Rules for Children and Dependents Form (and Instructions) 8615 Tax for Certain Children Who Have Unearned Income 8814 Parents' Election To Report Child's Interest and Dividends Which Parent's Return To Use If a child's parents are married to each other and file a joint return, use the joint return to figure the tax on the child's unearned income. 2011 1040x The tax rate and other return information from that return are used to figure the child's tax as explained later under Tax for Certain Children Who Have Unearned Income . 2011 1040x Parents Who Do Not File a Joint Return For parents who do not file a joint return, the following discussions explain which parent's tax return must be used to figure the tax. 2011 1040x Only the parent whose tax return is used can make the election described under Parent's Election To Report Child's Interest and Dividends . 2011 1040x Parents are married. 2011 1040x   If the child's parents file separate returns, use the return of the parent with the greater taxable income. 2011 1040x Parents not living together. 2011 1040x   If the child's parents are married to each other but not living together, and the parent with whom the child lives (the custodial parent) is considered unmarried, use the return of the custodial parent. 2011 1040x If the custodial parent is not considered unmarried, use the return of the parent with the greater taxable income. 2011 1040x   For an explanation of when a married person living apart from his or her spouse is considered unmarried, see Head of Household in chapter 2. 2011 1040x Parents are divorced. 2011 1040x   If the child's parents are divorced or legally separated, and the parent who had custody of the child for the greater part of the year (the custodial parent) has not remarried, use the return of the custodial parent. 2011 1040x Custodial parent remarried. 2011 1040x   If the custodial parent has remarried, the stepparent (rather than the noncustodial parent) is treated as the child's other parent. 2011 1040x Therefore, if the custodial parent and the stepparent file a joint return, use that joint return. 2011 1040x Do not use the return of the noncustodial parent. 2011 1040x   If the custodial parent and the stepparent are married, but file separate returns, use the return of the one with the greater taxable income. 2011 1040x If the custodial parent and the stepparent are married but not living together, the earlier discussion under Parents not living together applies. 2011 1040x Parents never married. 2011 1040x   If a child's parents have never been married to each other, but lived together all year, use the return of the parent with the greater taxable income. 2011 1040x If the parents did not live together all year, the rules explained earlier under Parents are divorced apply. 2011 1040x Widowed parent remarried. 2011 1040x   If a widow or widower remarries, the new spouse is treated as the child's other parent. 2011 1040x The rules explained earlier under Custodial parent remarried apply. 2011 1040x Parent's Election To Report Child's Interest and Dividends You may be able to elect to include your child's interest and dividend income (including capital gain distributions) on your tax return. 2011 1040x If you do, your child will not have to file a return. 2011 1040x You can make this election only if all the following conditions are met. 2011 1040x Your child was under age 19 (or under age 24 if a full-time student) at the end of the year. 2011 1040x Your child had income only from interest and dividends (including capital gain distributions and Alaska Permanent Fund dividends). 2011 1040x The child's gross income was less than $10,000. 2011 1040x The child is required to file a return unless you make this election. 2011 1040x The child does not file a joint return for the year. 2011 1040x No estimated tax payment was made for the year, and no overpayment from the previous year (or from any amended return) was applied to this year under your child's name and social security number. 2011 1040x No federal income tax was taken out of your child's income under the backup withholding rules. 2011 1040x You are the parent whose return must be used when applying the special tax rules for children. 2011 1040x (See Which Parent's Return To Use , earlier. 2011 1040x ) These conditions are also shown in Figure 31-A. 2011 1040x Certain January 1 birthdays. 2011 1040x   A child born on January 1, 1995, is considered to be age 19 at the end of 2013. 2011 1040x You cannot make this election for such a child unless the child was a full-time student. 2011 1040x   A child born on January 1, 1990, is considered to be age 24 at the end of 2013. 2011 1040x You cannot make this election for such a child. 2011 1040x Full-time student. 2011 1040x   A full-time student is a child who during some part of each of any 5 calendar months of the year was enrolled as a full-time student at a school, or took a full-time on-farm training course given by a school or a state, county, or local government agency. 2011 1040x A school includes a technical, trade, or mechanical school. 2011 1040x It does not include an on-the-job training course, correspondence school, or school offering courses only through the Internet. 2011 1040x How to make the election. 2011 1040x   Make the election by attaching Form 8814 to your Form 1040. 2011 1040x (If you make this election, you cannot file Form 1040A or Form 1040EZ. 2011 1040x ) Attach a separate Form 8814 for each child for whom you make the election. 2011 1040x You can make the election for one or more children and not for others. 2011 1040x Effect of Making the Election The federal income tax on your child's income may be more if you make the Form 8814 election. 2011 1040x Rate may be higher. 2011 1040x   If your child received qualified dividends or capital gain distributions, you may pay up to $100 more tax if you make this election instead of filing a separate tax return for the child. 2011 1040x This is because the tax rate on the child's income between $1,000 and $2,000 is 10% if you make this election. 2011 1040x However, if you file a separate return for the child, the tax rate may be as low as 0% (zero percent) because of the preferential tax rates for qualified dividends and capital gain distributions. 2011 1040x Deductions you cannot take. 2011 1040x   By making the Form 8814 election, you cannot take any of the following deductions that the child would be entitled to on his or her return. 2011 1040x The additional standard deduction if the child is blind. 2011 1040x The deduction for a penalty on an early withdrawal of your child's savings. 2011 1040x Itemized deductions (such as your child's investment expenses or charitable contributions). 2011 1040x Reduced deductions or credits. 2011 1040x   If you use Form 8814, your increased adjusted gross income may reduce certain deductions or credits on your return including the following. 2011 1040x Deduction for contributions to a traditional individual retirement arrangement (IRA). 2011 1040x Deduction for student loan interest. 2011 1040x Itemized deductions for medical expenses, casualty and theft losses, and certain miscellaneous expenses. 2011 1040x Credit for child and dependent care expenses. 2011 1040x Child tax credit. 2011 1040x Education tax credits. 2011 1040x Earned income credit. 2011 1040x Penalty for underpayment of estimated tax. 2011 1040x   If you make this election for 2013 and did not have enough tax withheld or pay enough estimated tax to cover the tax you owe, you may be subject to a penalty. 2011 1040x If you plan to make this election for 2014, you may need to increase your federal income tax withholding or your estimated tax payments to avoid the penalty. 2011 1040x See chapter 4 for more information. 2011 1040x Figuring Child's Income Use Form 8814, Part I, to figure your child's interest and dividend income to report on your return. 2011 1040x Only the amount over $2,000 is added to your income. 2011 1040x The amount over $2,000 is shown on Form 8814, line 6. 2011 1040x Unless the child's income includes qualified dividends or capital gain distributions (discussed next), the same amount is shown on Form 8814, line 12. 2011 1040x Include the amount from Form 8814, line 12, on Form 1040, line 21. 2011 1040x Enter “Form 8814” on the dotted line next to line 21. 2011 1040x If you file more than one Form 8814, include the total amounts from line 12 of all your Forms 8814 on Form 1040, line 21. 2011 1040x Capital gain distributions and qualified dividends. 2011 1040x   If your child's dividend income included any capital gain distributions, see Capital gain distributions under Figuring Child's Income in Publication 929, Part 2. 2011 1040x If your child's dividend income included any qualified dividends, see Qualified dividends under Figuring Child's Income in Publication 929, Part 2. 2011 1040x Figuring Additional Tax Use Form 8814, Part II, to figure the tax on the $2,000 of your child's interest and dividends that you do not include in your income. 2011 1040x This tax is added to the tax figured on your income. 2011 1040x This additional tax is the smaller of: 10% × (your child's gross income − $1,000), or $100. 2011 1040x Include the amount from line 15 of all your Forms 8814 in the total on Form 1040, line 44. 2011 1040x Check box a on Form 1040, line 44. 2011 1040x Figure 31-A. 2011 1040x Can You Include Your Child's Income On Your Tax Return? Please click here for the text description of the image. 2011 1040x Figure 31–A. 2011 1040x Can You Include Your Child's Income On Your Tax Return? Tax for Certain Children Who Have Unearned Income If a child's interest, dividends, and other unearned income total more than $2,000, part of that income may be taxed at the parent's tax rate instead of the child's tax rate. 2011 1040x If the parent does not or cannot choose to include the child's income on the parent's return, use Form 8615 to figure the child's tax. 2011 1040x Attach the completed form to the child's Form 1040 or Form 1040A. 2011 1040x When Form 8615 must be filed. 2011 1040x   Form 8615 must be filed for a child if all of the following statements are true. 2011 1040x The child's investment income was more than $2,000. 2011 1040x The child is required to file a return for 2013. 2011 1040x The child either: Was under age 18 at the end of the year, Was age 18 at the end of the year and did not have earned income that was more than half of his or her support, or Was over age 18 and under age 24 at the end of the year, was a full-time student, and did not have earned income that was more than half of his or her support. 2011 1040x At least one of the child's parents was alive at the end of 2013. 2011 1040x The child does not file a joint return for 2013. 2011 1040x These conditions are also shown in  Figure 31-B. 2011 1040x Earned income. 2011 1040x   Earned income includes salaries, wages, tips, and other payments received for personal services performed. 2011 1040x It does not include unearned income as defined later in this chapter. 2011 1040x Support. 2011 1040x   Your child's support includes all amounts spent to provide the child with food, lodging, clothing, education, medical and dental care, recreation, transportation, and similar necessities. 2011 1040x To figure your child's support, count support provided by you, your child, and others. 2011 1040x However, a scholarship received by your child is not considered support if your child is a full-time student. 2011 1040x See chapter 3 for details about support. 2011 1040x Certain January 1 birthdays. 2011 1040x   Use the following chart to determine whether certain children with January 1 birthdays meet condition 3 under When Form 8615 must be filed. 2011 1040x Figure 31-B. 2011 1040x Do You Have To Use Form 8615 To Figure Your Child's Tax? Please click here for the text description of the image. 2011 1040x Figure 31-B. 2011 1040x Do You Have To Use Form 8615 To Figure Your Child's Tax?    IF a child was born on. 2011 1040x . 2011 1040x . 2011 1040x THEN, at the end of 2013, the child is considered to be. 2011 1040x . 2011 1040x . 2011 1040x January 1, 1996 18* January 1, 1995 19** January 1, 1990 24*** *This child is not under age 18. 2011 1040x The child meets condition 3 only if the child did not have earned income that was more than half of the child's support. 2011 1040x  **This child meets condition 3 only if the child was a full-time student who did not have earned income that was more than half of the child's support. 2011 1040x  ***Do not use Form 8615 for this child. 2011 1040x Providing Parental Information (Form 8615, lines A–C) On Form 8615, lines A and B, enter the parent's name and social security number. 2011 1040x (If the parents filed a joint return, enter the name and social security number listed first on the joint return. 2011 1040x ) On line C, check the box for the parent's filing status. 2011 1040x See Which Parent's Return To Use at the beginning of this chapter for information on which parent's return information must be used on Form 8615. 2011 1040x Parent with different tax year. 2011 1040x   If the parent and the child do not have the same tax year, complete Form 8615 using the information on the parent's return for the tax year that ends in the child's tax year. 2011 1040x Parent's return information not known timely. 2011 1040x   If the information needed from the parent's return is not known by the time the child's return is due (usually April 15), you can file the return using estimates. 2011 1040x   You can use any reasonable estimate. 2011 1040x This includes using information from last year's return. 2011 1040x If you use an estimated amount on Form 8615, enter “Estimated” on the line next to the amount. 2011 1040x    When you get the correct information, file an amended return on Form 1040X, Amended U. 2011 1040x S. 2011 1040x Individual Income Tax Return. 2011 1040x   Instead of using estimates, you can get an automatic 6-month extension of time to file if, by the date your return is due, you file Form 4868, Application for Automatic Extension of Time To File U. 2011 1040x S. 2011 1040x Individual Income Tax Return. 2011 1040x Extensions are discussed in chapter 1. 2011 1040x Step 1. 2011 1040x Figuring the Child's Net Unearned Income (Form 8615, Part I) The first step in figuring a child's tax using Form 8615 is to figure the child's net unearned income. 2011 1040x To do that, use Form 8615, Part I. 2011 1040x Line 1 (unearned income). 2011 1040x   If the child had no earned income, enter on this line the adjusted gross income shown on the child's return. 2011 1040x Adjusted gross income is shown on Form 1040, line 38, or Form 1040A, line 22. 2011 1040x Form 1040EZ cannot be used if Form 8615 must be filed. 2011 1040x   If the child had earned income, figure the amount to enter on Form 8615, line 1, by using the worksheet in the instructions for the form. 2011 1040x   However, if the child has: excluded any foreign earned income, deducted either a loss from self-employment, or deducted a net operating loss from another year, then use the Alternate Worksheet for Form 8615, Line 1, in Publication 929 to figure the amount to enter on Form 8615, line 1. 2011 1040x Unearned income defined. 2011 1040x   Unearned income is generally all income other than salaries, wages, and other amounts received as pay for work actually done. 2011 1040x It includes taxable interest, dividends (including capital gain distributions), capital gains, unemployment compensation, the taxable part of social security and pension payments, and certain distributions from trusts. 2011 1040x Unearned income includes amounts produced by assets the child obtained with earned income (such as interest on a savings account into which the child deposited wages). 2011 1040x Nontaxable income. 2011 1040x   For this purpose, unearned income includes only amounts the child must include in total income. 2011 1040x Nontaxable unearned income, such as tax-exempt interest and the nontaxable part of social security and pension payments, is not included. 2011 1040x Income from property received as a gift. 2011 1040x   A child's unearned income includes all income produced by property belonging to the child. 2011 1040x This is true even if the property was transferred to the child, regardless of when the property was transferred or purchased or who transferred it. 2011 1040x   A child's unearned income includes income produced by property given as a gift to the child. 2011 1040x This includes gifts to the child from grandparents or any other person and gifts made under the Uniform Gift to Minors Act. 2011 1040x Example. 2011 1040x Amanda Black, age 13, received the following income. 2011 1040x Dividends — $800 Wages — $2,100 Taxable interest — $1,200 Tax-exempt interest — $100 Net capital gains — $100 The dividends were qualified dividends on stock given to her by her grandparents. 2011 1040x Amanda's unearned income is $2,100. 2011 1040x This is the total of the dividends ($800), taxable interest ($1,200), and net capital gains ($100). 2011 1040x Her wages are earned (not unearned) income because they are received for work actually done. 2011 1040x Her tax-exempt interest is not included because it is nontaxable. 2011 1040x Trust income. 2011 1040x   If a child is the beneficiary of a trust, distributions of taxable interest, dividends, capital gains, and other unearned income from the trust are unearned income to the child. 2011 1040x   However, for purposes of completing Form 8615, a taxable distribution from a qualified disability trust is considered earned income, not unearned income. 2011 1040x Line 2 (deductions). 2011 1040x   If the child does not itemize deductions on Schedule A (Form 1040), enter $2,000 on line 2. 2011 1040x   If the child does itemize deductions, enter on line 2 the larger of: $1,000 plus the portion of the child's itemized deductions on Schedule A (Form 1040), line 29, that are directly connected with the production of unearned income entered on line 1, or $2,000. 2011 1040x Directly connected. 2011 1040x   Itemized deductions are directly connected with the production of unearned income if they are for expenses paid to produce or collect taxable income or to manage, conserve, or maintain property held for producing income. 2011 1040x These expenses include custodian fees and service charges, service fees to collect taxable interest and dividends, and certain investment counsel fees. 2011 1040x   These expenses are added to certain other miscellaneous itemized deductions on Schedule A (Form 1040). 2011 1040x Only the amount greater than 2% of the child's adjusted gross income can be deducted. 2011 1040x See chapter 28 for more information. 2011 1040x Example 1. 2011 1040x Roger, age 12, has unearned income of $8,000, no other income, no adjustments to income, and itemized deductions of $300 (net of the 2% limit) that are directly connected with his unearned income. 2011 1040x His adjusted gross income is $8,000, which is entered on Form 1040, line 38, and on Form 8615, line 1. 2011 1040x Roger enters $2,000 on line 2 because that is more than the total of $1,000 plus his directly connected itemized deductions of $300. 2011 1040x Example 2. 2011 1040x Eleanor, age 8, has unearned income of $16,000 and an early withdrawal penalty of $100. 2011 1040x She has no other income. 2011 1040x She has itemized deductions of $1,050 (net of the 2% limit) that are directly connected with the production of her unearned income. 2011 1040x Her adjusted gross income, entered on line 1, is $15,900 ($16,000 − $100). 2011 1040x The amount on line 2 is $2,050. 2011 1040x This is the larger of: $1,000 plus the $1,050 of directly connected itemized deductions, or $2,000. 2011 1040x Line 3. 2011 1040x   Subtract line 2 from line 1 and enter the result on this line. 2011 1040x If zero or less, do not complete the rest of the form. 2011 1040x However, you must still attach Form 8615 to the child's tax return. 2011 1040x Figure the tax on the child's taxable income in the normal manner. 2011 1040x Line 4 (child's taxable income). 2011 1040x   Enter on line 4 the child's taxable income from Form 1040, line 43, or Form 1040A, line 27. 2011 1040x   However, if the child files Form 2555 or 2555-EZ to claim the foreign earned income exclusion, housing exclusion, or housing deduction, see the Form 8615 instructions or Pub. 2011 1040x 929. 2011 1040x Line 5 (net unearned income). 2011 1040x   A child's net unearned income cannot be more than his or her taxable income. 2011 1040x Enter on Form 8615, line 5, the smaller of line 3 or line 4. 2011 1040x This is the child's net unearned income. 2011 1040x   If zero or less, do not complete the rest of the form. 2011 1040x However, you must still attach Form 8615 to the child's tax return. 2011 1040x Figure the tax on the child's taxable income in the normal manner. 2011 1040x Step 2. 2011 1040x Figuring Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) The next step in completing Form 8615 is to figure a tentative tax on the child's net unearned income at the parent's tax rate. 2011 1040x The tentative tax at the parent's tax rate is the difference between the tax on the parent's taxable income figured with the child's net unearned income (plus the net unearned income of any other child whose Form 8615 includes the tax return information of that parent) and the tax figured without it. 2011 1040x When figuring the tentative tax at the parent's tax rate on Form 8615, do not refigure any of the exclusions, deductions, or credits on the parent's return because of the child's net unearned income. 2011 1040x For example, do not refigure the medical expense deduction. 2011 1040x Figure the tentative tax on Form 8615, lines 6 through 13. 2011 1040x Note. 2011 1040x If the child or parent has any capital gains or losses, get Publication 929 for help in completing Form 8615, Part II. 2011 1040x Line 6 (parent's taxable income). 2011 1040x   Enter on line 6 the parent's taxable income from Form 1040, line 43, Form 1040A, line 27, or Form 1040EZ, line 6. 2011 1040x   If the Foreign Earned Income Tax Worksheet (in the Form 1040 instructions) was used to figure the parent's tax, enter the amount from line 3 of that worksheet instead of the parent's taxable income. 2011 1040x Line 7 (net unearned income of other children). 2011 1040x   If the tax return information of the parent is also used on any other child's Form 8615, enter on line 7 the total of the amounts from line 5 of all the other children's Forms 8615. 2011 1040x Do not include the amount from line 5 of the Form 8615 being completed. 2011 1040x Example. 2011 1040x Paul and Jane Persimmon have three children, Sharon, Jerry, and Mike, who must attach Form 8615 to their tax returns. 2011 1040x The children's net unearned income amounts on line 5 of their Forms 8615 are: Sharon — $800 Jerry — $600 Mike — $1,000 Line 7 of Sharon's Form 8615 will show $1,600, the total of the amounts on line 5 of Jerry's and Mike's Forms 8615. 2011 1040x Line 7 of Jerry's Form 8615 will show $1,800 ($800 + $1,000). 2011 1040x Line 7 of Mike's Form 8615 will show $1,400 ($800 + $600). 2011 1040x Other children's information not available. 2011 1040x   If the net unearned income of the other children is not available when the return is due, either file the return using estimates or get an extension of time to file. 2011 1040x See Parent's return information not known timely , earlier. 2011 1040x Line 11 (tentative tax). 2011 1040x   Subtract line 10 from line 9 and enter the result on this line. 2011 1040x This is the tentative tax. 2011 1040x   If line 7 is blank, skip lines 12a and 12b and enter the amount from line 11 on line 13. 2011 1040x Also skip the discussion for lines 12a and 12b that follows. 2011 1040x Lines 12a and 12b (dividing the tentative tax). 2011 1040x   If an amount is entered on line 7, divide the tentative tax shown on line 11 among the children according to each child's share of the total net unearned income. 2011 1040x This is done on lines 12a, 12b, and 13. 2011 1040x Add the amount on line 7 to the amount on line 5 and enter the total on line 12a. 2011 1040x Divide the amount on line 5 by the amount on line 12a and enter the result, as a decimal, on line 12b. 2011 1040x Example. 2011 1040x In the earlier example under Line 7 (net unearned income of other children), Sharon's Form 8615 shows $1,600 on line 7. 2011 1040x The amount entered on line 12a is $2,400, the total of the amounts on lines 5 and 7 ($800 + $1,600). 2011 1040x The decimal on line 12b is  . 2011 1040x 333, figured as follows and rounded to three places. 2011 1040x   $800 = . 2011 1040x 333     $2,400   Step 3. 2011 1040x Figuring the Child's Tax (Form 8615, Part III) The final step in figuring a child's tax using Form 8615 is to determine the larger of: The total of: The child's share of the tentative tax based on the parent's tax rate, plus The tax on the child's taxable income in excess of net unearned income, figured at the child's tax rate, or The tax on the child's taxable income, figured at the child's tax rate. 2011 1040x This is the child's tax. 2011 1040x It is figured on Form 8615, lines 14 through 18. 2011 1040x Alternative minimum tax. 2011 1040x   A child may be subject to alternative minimum tax (AMT) if he or she has certain items given preferential treatment under the tax law. 2011 1040x See Alternative Minimum Tax (AMT) in chapter 30. 2011 1040x    For more information on who is liable for AMT and how to figure it, see Form 6251, Alternative Minimum Tax—Individuals. 2011 1040x For information on special limits that apply to a child who files Form 6251, see Certain Children Under Age 24 in the Instructions for Form 6251. 2011 1040x Prev  Up  Next   Home   More Online Publications
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Consumer Protection Offices

City, county, regional, and state consumer offices offer a variety of important services. They might mediate complaints, conduct investigations, prosecute offenders of consumer laws, license and regulate professional service providers, provide educational materials and advocate for consumer rights. To save time, call before sending a written complaint. Ask if the office handles the type of complaint you have and if complaint forms are provided.

State Consumer Protection Offices

New Hampshire Office of the Attorney General

Website: New Hampshire Office of the Attorney General

Address: New Hampshire Office of the Attorney General
Consumer Protection and Antitrust Bureau
33 Capitol St.
Concord, NH 03301

Phone Number: 603-271-3641

Toll-free: 1-888-468-4454 (Consumer Protection Hotline)

TTY: 1-800-735-2964 (NH)

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Banking Authorities

The officials listed in this section regulate and supervise state-chartered banks. Many of them handle or refer problems and complaints about other types of financial institutions as well. Some also answer general questions about banking and consumer credit. If you are dealing with a federally chartered bank, check Federal Agencies.

State Banking Department

Website: State Banking Department

Address: State Banking Department
53 Regional Dr., Suite 200
Concord, NH 03301

Phone Number: 603-271-3561

Toll-free: 1-800-437-5991

TTY: 1-800-735-2964

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Insurance Regulators

Each state has its own laws and regulations for each type of insurance. The officials listed in this section enforce these laws. Many of these offices can also provide you with information to help you make informed insurance buying decisions.

Insurance Department

Website: Insurance Department

Address: Insurance Department
21 S. Fruit St., Suite 14
Concord, NH 03301

Phone Number: 603-271-2261

Toll-free: 1-800-852-3416 (NH)

TTY: 1-800-735-2964 (NH)

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Securities Administrators

Each state has its own laws and regulations for securities brokers and securities - including stocks, mutual funds, commodities, real estate, etc. The officials and agencies listed in this section enforce these laws and regulations. Many of these offices can also provide information to help you make informed investment decisions.

Secretary of State

Website: Secretary of State

Address: Secretary of State
Bureau of Securities Regulation
107 N. Main St., #204
Concord, NH 03301

Phone Number: 603-271-1463

Toll-free: 1-800-994-4200

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Utility Commissions

State Utility Commissions regulate services and rates for gas, electricity and telephones within your state. In some states, the utility commissions regulate other services such as water, transportation, and the moving of household goods. Many utility commissions handle consumer complaints. Sometimes, if a number of complaints are received about the same utility matter, they will conduct investigations.

Public Utilities Commission

Website: Public Utilities Commission

Address: Public Utilities Commission
Consumer Affairs Division
21 S. Fruit St., Suite 10
Concord, NH 03301-2429

Phone Number: 603-271-2431

Toll-free: 1-800-852-3793 (NH)

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The 2011 1040x

2011 1040x Publication 550 - Introductory Material Table of Contents Future Developments What's New Reminders IntroductionOrdering forms and publications. 2011 1040x Tax questions. 2011 1040x Future Developments For the latest information about developments related to Publication 550, such as legislation enacted after it was published, go to www. 2011 1040x irs. 2011 1040x gov/pub550. 2011 1040x What's New Net investment income tax (NIIT). 2011 1040x  Beginning in 2013, you may be subject to the NIIT. 2011 1040x The NIIT applies at a rate of 3. 2011 1040x 8% to certain net investment income of individuals, estates, and trusts that have income above statutory threshold amounts. 2011 1040x See Net investment income tax (NIIT) , later. 2011 1040x Maximum capital gain rates. 2011 1040x  For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. 2011 1040x See Capital Gain Tax Rates , later, for more information. 2011 1040x Gift tax exclusion amount increased. 2011 1040x  For calendar year 2013, the first $14,000 of gifts to any person (other than gifts of future interests in property) are not included in the total amount of taxable gifts. 2011 1040x See Property Received as a Gift , later. 2011 1040x Reminders Mutual fund distributions. 2011 1040x  Publication 564, Mutual Fund Distributions, has been incorporated into this publication. 2011 1040x Foreign source income. 2011 1040x  If you are a U. 2011 1040x S. 2011 1040x citizen with investment income from sources outside the United States (foreign income), you must report that income on your tax return unless it is exempt by U. 2011 1040x S. 2011 1040x law. 2011 1040x This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the foreign payer. 2011 1040x Employee stock options. 2011 1040x  If you received an option to buy or sell stock or other property as payment for your services, see Publication 525, Taxable and Nontaxable Income, for the special tax rules that apply. 2011 1040x Photographs of missing children. 2011 1040x  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. 2011 1040x Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. 2011 1040x You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. 2011 1040x Introduction This publication provides information on the tax treatment of investment income and expenses. 2011 1040x It includes information on the tax treatment of investment income and expenses for individual shareholders of mutual funds or other regulated investment companies, such as money market funds. 2011 1040x It explains what investment income is taxable and what investment expenses are deductible. 2011 1040x It explains when and how to show these items on your tax return. 2011 1040x It also explains how to determine and report gains and losses on the disposition of investment property and provides information on property trades and tax shelters. 2011 1040x The glossary at the end of this publication defines many of the terms used. 2011 1040x Investment income. 2011 1040x   This generally includes interest, dividends, capital gains, and other types of distributions including mutual fund distributions. 2011 1040x Investment expenses. 2011 1040x   These include interest paid or incurred to acquire investment property and expenses to manage or collect income from investment property. 2011 1040x Qualified retirement plans and IRAs. 2011 1040x   The rules in this publication do not apply to mutual fund shares held in individual retirement arrangements (IRAs), section 401(k) plans, and other qualified retirement plans. 2011 1040x The value of the mutual fund shares and earnings allocated to you are included in your retirement plan assets and stay tax free generally until the plan distributes them to you. 2011 1040x The tax rules that apply to retirement plan distributions are explained in the following publications. 2011 1040x Publication 560, Retirement Plans for Small Business. 2011 1040x Publication 571, Tax-Sheltered Annuity Plans. 2011 1040x Publication 575, Pension and Annuity Income. 2011 1040x Publication 590, Individual Retirement Arrangements (IRAs). 2011 1040x Publication 721, Tax Guide to U. 2011 1040x S. 2011 1040x Civil Service Retirement Benefits. 2011 1040x    Comments and suggestions. 2011 1040x   We welcome your comments about this publication and your suggestions for future editions. 2011 1040x   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. 2011 1040x NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. 2011 1040x Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. 2011 1040x   You can send your comments from www. 2011 1040x irs. 2011 1040x gov/formspubs/. 2011 1040x Click on “More Information” and then on “Comment on Tax Forms and Publications. 2011 1040x ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. 2011 1040x Ordering forms and publications. 2011 1040x   Visit www. 2011 1040x irs. 2011 1040x gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. 2011 1040x Internal Revenue Service 1201 N. 2011 1040x Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. 2011 1040x   If you have a tax question, check the information available on IRS. 2011 1040x gov or call 1-800-829-1040. 2011 1040x We cannot answer tax questions sent to either of the above addresses. 2011 1040x Prev  Up 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