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Tax Act 2011 Free Download

Need To File 2012 Tax ReturnsH R Block 2011 DownloadUs Military TaxesWhere Do I Get State Tax FormsHow Do I File A 1040xComplete 1040x FormFree Tax PrepTaxslayer Com2011 Ez FormIrs Forms 2009 Form 1040Tax Form 1040nrFiling State Tax ReturnsFree Tax Filing1040x Form For 2013H&r Block Free Federal Tax ReturnH & R Block Free EfileI Need To File An Amended Tax ReturnLate Filing 2011 TaxesIncome Tax Forms 1040Form 1040x FillableRefile Tax ReturnEz 1040 E-fileIrs 1040x Forms1040 Ez IrsTurbotax Amended Return 2012Forms 1040x2011 Taxact Online Tax Prepartion Including Free Efiling1040ez Tax Form 2011Free Online State TaxesIncome Tax Return Preparation2011 1040 FormsFree Tax Filing For 2012Turbotax 1040x 20122010 Tax Return FormsCt 1040xHow To File An Amended Tax Return 2013I Need To File Taxes For 2011Form 1040x OnlineForm 1040ezHow To File An Amended Return For 2012

Tax Act 2011 Free Download

Tax act 2011 free download Index A Additional Medicare Tax, What's New Allocated tips, Allocated Tips Assistance (see Tax help) C Cash tips, How to keep a daily tip record. Tax act 2011 free download Credit card charge tips, How to keep a daily tip record. Tax act 2011 free download D Daily tip record, Keeping a Daily Tip Record E Electronic tip record, Electronic tip record. Tax act 2011 free download Electronic tip statement, Electronic tip statement. Tax act 2011 free download Employers Giving money to, for taxes, Giving your employer money for taxes. Tax act 2011 free download Reporting tips to, Reporting Tips to Your Employer EmTRAC program, Tip Rate Determination and Education Program F Figures Form 4070A, sample filled-in, Form 1040 Schedule C, Self-employed persons. Tax act 2011 free download Unreported tips, Reporting social security, Medicare, Additional Medicare, or railroad retirement taxes on tips not reported to your employer. Tax act 2011 free download Form 4070, What tips to report. Tax act 2011 free download Sample filled-in, Form 4070A, How to keep a daily tip record. Tax act 2011 free download Form 4137, Reporting social security, Medicare, Additional Medicare, or railroad retirement taxes on tips not reported to your employer. Tax act 2011 free download Form 8027, How to request an approved lower rate. Tax act 2011 free download Form W-2 Uncollected taxes, Giving your employer money for taxes. Tax act 2011 free download , Reporting uncollected social security, Medicare, Additional Medicare, or railroad retirement taxes on tips reported to your employer. Tax act 2011 free download Free tax services, Free help with your tax return. Tax act 2011 free download G Gaming Industry Tip Compliance Agreement Program, Tip Rate Determination and Education Program H Help (see Tax help) M Missing children, photographs of, Reminder N Noncash tips, How to keep a daily tip record. Tax act 2011 free download P Penalties Failure to report tips to employer, Penalty for not reporting tips. Tax act 2011 free download Underpayment of estimated taxes, Giving your employer money for taxes. Tax act 2011 free download Publications (see Tax help) R Recordkeeping requirements Daily tip record, Keeping a Daily Tip Record Reporting Employee to report tips to employer, Reporting Tips to Your Employer Tip income, Introduction S Self-employed persons, Self-employed persons. Tax act 2011 free download Service charge paid as wages, Service charges. Tax act 2011 free download Social security and Medicare taxes Allocated tips, How to report allocated tips. Tax act 2011 free download Reporting of earnings to Social Security Administration, Why report tips to your employer. Tax act 2011 free download Tips not reported to employer, Reporting social security, Medicare, Additional Medicare, or railroad retirement taxes on tips not reported to your employer. Tax act 2011 free download Uncollected taxes on tips, Reporting uncollected social security, Medicare, Additional Medicare, or railroad retirement taxes on tips reported to your employer. Tax act 2011 free download T Tax help, How To Get Tax Help Tax returns, Reporting Tips on Your Tax Return Tip pools, How to keep a daily tip record. Tax act 2011 free download Tip Rate Determination and Education Program, Tip Rate Determination and Education Program Tip splitting, How to keep a daily tip record. Tax act 2011 free download TTY/TDD information, How To Get Tax Help U Uncollected taxes, Giving your employer money for taxes. Tax act 2011 free download , Reporting uncollected social security, Medicare, Additional Medicare, or railroad retirement taxes on tips reported to your employer. Tax act 2011 free download W Withholding, Why report tips to your employer. Tax act 2011 free download Prev  Up     Home   More Online Publications
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Know Your Rights

The Federal Deposit Insurance Corporation and other federal regulators require banks, insurance companies, brokerage firms and certain businesses who share financial information to tell you their privacy policies. They must give you this information when you open an account, and at least once every year after. They must include:

  • the kinds of information being collected;
  • how the confidentiality and security of this information will be protected; and
  • what types of businesses may be provided this information.

If a business is going to share the information with anyone outside its corporate family, it must also give you the chance to "opt-out" or say no to information sharing. Even if you don't opt out, your actual account numbers may not be shared with third parties for marketing purposes.

You cannot prevent certain types of information from being shared, including information needed to conduct normal business or protect against fraud, or information that is already publicly available. Also, a bank can share your information with a partner company to market products.

Your credit information has additional privacy protections under the Fair Credit Reporting Act. Only people with a legitimate business need can get a copy of your report. An employer can only get your report with your written consent. For more information on your rights under this federal law and to find out how you can get a copy of your credit report, visit the Credit Bureaus and Credit Scores section.

If Your Wallet is Lost or Stolen

Your wallet contains some of your most important personal items, from hard-earned money to credit cards and driver’s license. For an identity thief, your wallet offers a treasure trove of personal information. If your wallet is lost or stolen:

  • File a report with the police immediately.
  • Cancel your credit and debit cards and request new cards and account numbers.
  • Report the missing cards to the major credit reporting agencies.
  • Report your missing license to the department of motor vehicles.

Check with the Federal Trade Commission for more information on protecting your privacy

The Tax Act 2011 Free Download

Tax act 2011 free download Publication 929 - Main Content Table of Contents Part 1. Tax act 2011 free download Rules for All Dependents Filing RequirementsEarned Income Only Unearned Income Only Both Earned and Unearned Income Other Filing Requirements Should a Return Be Filed Even If Not Required? Responsibility for Child's ReturnThird party designee. Tax act 2011 free download Designated as representative. Tax act 2011 free download IRS notice. Tax act 2011 free download Standard DeductionStandard Deduction of Zero Dependent's Own Exemption Withholding From WagesExceptions. Tax act 2011 free download Part 2. Tax act 2011 free download Tax on Unearned Income of Certain ChildrenWhich Parent's Return To Use 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. Tax act 2011 free download Figuring the Child's Net Unearned Income (Form 8615, Part I) Step 2. Tax act 2011 free download Figuring a Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) Step 3. Tax act 2011 free download Figuring the Child's Tax (Form 8615, Part III) Alternative Minimum Tax Illustrated Example Part 1. Tax act 2011 free download Rules for All Dependents This part of the publication discusses the filing requirements for dependents, who is responsible for a child's return, how to figure a dependent's standard deduction and exemption (if any), and whether a dependent can claim exemption from federal income tax withholding. Tax act 2011 free download Filing Requirements Whether a dependent has to file a return generally depends on the amount of the dependent's earned and unearned income and whether the dependent is married, is age 65 or older, or is blind. Tax act 2011 free download A dependent may have to file a return even if his or her income is less than the amount that would normally require a return. Tax act 2011 free download See Other Filing Requirements, later. Tax act 2011 free download The following sections apply to dependents with: Earned income only, Unearned income only, and Both earned and unearned income. Tax act 2011 free download  To find out whether a dependent must file, read the section that applies, or use Table 1. Tax act 2011 free download Earned Income Only A dependent whose gross income is only earned income must file a return if the gross income is more than the amount listed in the following table. Tax act 2011 free download Marital Status Amount Single   Under 65 and not blind $6,100 Either 65 or older or blind $7,600 65 or older and blind $9,100 Married*   Under 65 and not blind $6,100 Either 65 or older or blind $7,300 65 or older and blind $8,500 *If a dependent's spouse itemizes deductions on a separate return, the dependent must file a return if the dependent has $5 or more of gross income (earned and/or unearned). Tax act 2011 free download Example. Tax act 2011 free download William is 16. Tax act 2011 free download His mother claims an exemption for him on her income tax return. Tax act 2011 free download He worked part time on weekends during the school year and full time during the summer. Tax act 2011 free download He earned $7,000 in wages. Tax act 2011 free download He did not have any unearned income. Tax act 2011 free download He must file a tax return because he has earned income only and his gross income is more than $6,100. Tax act 2011 free download If he is blind, he does not have to file a return because his gross income is not more than $7,600. Tax act 2011 free download Unearned Income Only A dependent whose gross income is only unearned income must file a return if the gross income is more than the amount listed in the following table. Tax act 2011 free download Marital Status Amount Single   Under 65 and not blind $1,000 Either 65 or older or blind $2,500 65 or older and blind $4,000 Married*   Under 65 and not blind $1,000 Either 65 or older or blind $2,200 65 or older and blind $3,400 *If a dependent's spouse itemizes deductions on a separate return, the dependent must file a return if the dependent has $5 or more of gross income (earned and/or unearned). Tax act 2011 free download Example. Tax act 2011 free download Sarah is 18 and single. Tax act 2011 free download Her parents can claim an exemption for her on their income tax return. Tax act 2011 free download She received $1,970 of taxable interest and dividend income. Tax act 2011 free download She did not work during the year. Tax act 2011 free download She must file a tax return because she has unearned income only and her gross income is more than $1,000. Tax act 2011 free download If she is blind, she does not have to file a return because she has unearned income only and her gross income is not more than $2,500. Tax act 2011 free download Election to report child's unearned income on parent's return. Tax act 2011 free download   A parent of a child under age 19 (or under age 24 if a full-time student) may be able to elect to include the child's interest and dividend income on the parent's return. Tax act 2011 free download See Parent's Election To Report Child's Interest and Dividends in Part 2. Tax act 2011 free download If the parent makes this election, the child does not have to file a return. Tax act 2011 free download Both Earned and Unearned Income A dependent who has both earned and unearned income generally must file a return if the dependent's gross income is more than line 5 of the following worksheet. Tax act 2011 free download Filing Requirement Worksheet for Most Dependents 1. Tax act 2011 free download Enter dependent's earned income plus $350     2. Tax act 2011 free download Minimum amount   $1,000 3. Tax act 2011 free download Compare lines 1 and 2. Tax act 2011 free download Enter the larger amount     4. Tax act 2011 free download Maximum amount   6,100 5. Tax act 2011 free download Compare lines 3 and 4. Tax act 2011 free download Enter the smaller amount     6. Tax act 2011 free download Enter the dependent's gross income. Tax act 2011 free download If line 6 is more than line 5, the dependent must file an income tax return. Tax act 2011 free download If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 6 is $5 or more. Tax act 2011 free download       Table 1. Tax act 2011 free download 2013 Filing Requirements for Dependents If your parent (or someone else) can claim you as a dependent, use this table to see if you must file a return. Tax act 2011 free download   See the definitions of “dependent,”“earned income,”“unearned income,” and “gross income” in the Glossary. Tax act 2011 free download   Single dependents—Were you either age 65 or older or blind?     No. Tax act 2011 free download You must file a return if any of the following apply. Tax act 2011 free download       Your unearned income was over $1,000. Tax act 2011 free download Your earned income was over $6,100. Tax act 2011 free download Your gross income was more than the larger of—       $1,000, or Your earned income (up to $5,750) plus $350. Tax act 2011 free download         Yes. Tax act 2011 free download You must file a return if any of the following apply. Tax act 2011 free download     Your unearned income was over $2,500 ($4,000 if 65 or older and blind), Your earned income was over $7,600 ($9,100 if 65 or older and blind), Your gross income was more than the larger of—       $2,500 ($4,000 if 65 or older and blind), or Your earned income (up to $5,750) plus $1,850 ($3,350 if 65 or older and blind). Tax act 2011 free download       Married dependents—Were you either age 65 or older or blind?     No. Tax act 2011 free download You must file a return if any of the following apply. Tax act 2011 free download       Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. Tax act 2011 free download Your unearned income was over $1,000. Tax act 2011 free download Your earned income was over $6,100. Tax act 2011 free download Your gross income was more than the larger of—       $1,000, or Your earned income (up to $5,750) plus $350. Tax act 2011 free download       Yes. Tax act 2011 free download You must file a return if any of the following apply. Tax act 2011 free download       Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. Tax act 2011 free download Your unearned income was over $2,200 ($3,400 if 65 or older and blind), Your earned income was over $7,300 ($8,500 if 65 or older and blind), Your gross income was more than the larger of—       $2,200 ($3,400 if 65 or older and blind), or Your earned income (up to $5,750) plus $1,550 ($2,750 if 65 or older and blind). Tax act 2011 free download       Example 1. Tax act 2011 free download Joe is 20, single, not blind, and a full-time college student. Tax act 2011 free download He does not provide more than half of his own support, and his parents claim an exemption for him on their income tax return. Tax act 2011 free download He received $200 taxable interest income and earned $2,750 from a part-time job. Tax act 2011 free download He does not have to file a tax return because his gross income of $2,950 ($200 interest plus $2,750 in wages) is not more than $3,100, the amount on line 5 of his filled-in Filing Requirement Worksheet for Most Dependents (shown next). Tax act 2011 free download Filled-in Example 1 Filing Requirement Worksheet  for Most Dependents 1. Tax act 2011 free download Enter dependent's earned income plus $350   $ 3,100 2. Tax act 2011 free download Minimum amount   1,000 3. Tax act 2011 free download Compare lines 1 and 2. Tax act 2011 free download Enter the larger amount   3,100 4. Tax act 2011 free download Maximum amount   6,100 5. Tax act 2011 free download Compare lines 3 and 4. Tax act 2011 free download Enter the smaller amount   3,100 6. Tax act 2011 free download Enter the dependent's gross income. Tax act 2011 free download If line 6 is more than line 5, the dependent must file an income tax return. Tax act 2011 free download If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 6 is $5 or more. Tax act 2011 free download   $ 2,950   Example 2. Tax act 2011 free download The facts are the same as in Example 1 except that Joe had $600 taxable interest income. Tax act 2011 free download He must file a tax return because his gross income of $3,350 ($600 interest plus $2,750 wages) is more than $3,100, the amount on line 5 of his filled-in worksheet (shown next). Tax act 2011 free download Filled-in Example 2 Filing Requirement Worksheet for Most Dependents 1. Tax act 2011 free download Enter dependent's earned income plus $350   $ 3,100 2. Tax act 2011 free download Minimum amount   1,000 3. Tax act 2011 free download Compare lines 1 and 2. Tax act 2011 free download Enter the larger amount   3,100 4. Tax act 2011 free download Maximum amount   6,100 5. Tax act 2011 free download Compare lines 3 and 4. Tax act 2011 free download Enter the smaller amount   3,100 6. Tax act 2011 free download Enter the dependent's gross income. Tax act 2011 free download If line 6 is more than line 5, the dependent must file an income tax return. Tax act 2011 free download If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 6 is $5 or more. Tax act 2011 free download   $ 3,350   Age 65 or older or blind. Tax act 2011 free download A dependent who is age 65 or older or blind must file a return if his or her gross income is more than line 7 of the following worksheet. Tax act 2011 free download Filing Requirement Worksheet  for Dependents Who Are Age 65 or Older or Blind 1. Tax act 2011 free download Enter dependent's earned income plus $350     2. Tax act 2011 free download Minimum amount   $1,000 3. Tax act 2011 free download Compare lines 1 and 2. Tax act 2011 free download Enter the larger amount     4. Tax act 2011 free download Maximum amount   6,100 5. Tax act 2011 free download Compare lines 3 and 4. Tax act 2011 free download Enter the smaller amount     6. Tax act 2011 free download Enter the amount from the following table that applies to the dependent       Marital Status Amount     Single         Either 65 or older or blind $1,500       65 or older and blind $3,000     Married         Either 65 or older or blind $1,200       65 or older and blind $2,400   7. Tax act 2011 free download Add lines 5 and 6. Tax act 2011 free download Enter the total     8. Tax act 2011 free download Enter the dependent's gross income. Tax act 2011 free download If line 8 is more than line 7, the dependent must file an income tax return. Tax act 2011 free download If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 8 is $5 or more     Example 3. Tax act 2011 free download The facts are the same as in Example 2 except that Joe is also blind. Tax act 2011 free download He does not have to file a return because his gross income of $3,350 is not more than $4,600, the amount on line 7 of his filled-in Filing Requirement Worksheet for Dependents Who Are Age 65 or Older or Blind (shown next). Tax act 2011 free download   Filled-in Example 3 Filing Requirement Worksheet  for Dependents Who Are Age 65 or Older or Blind 1. Tax act 2011 free download Enter dependent's earned income plus $350   $3,100 2. Tax act 2011 free download Minimum amount   1,000 3. Tax act 2011 free download Compare lines 1 and 2. Tax act 2011 free download Enter the larger amount   3,100 4. Tax act 2011 free download Maximum amount   6,100 5. Tax act 2011 free download Compare lines 3 and 4. Tax act 2011 free download Enter the smaller amount   3,100 6. Tax act 2011 free download Enter the amount from the following table that applies to the dependent   1,500   Marital Status Amount     Single         Either 65 or older or blind $1,500       65 or older and blind $3,000     Married         Either 65 or older or blind $1,200       65 or older and blind $2,400   7. Tax act 2011 free download Add lines 5 and 6. Tax act 2011 free download Enter the total   4,600 8. Tax act 2011 free download Enter the dependent's gross income. Tax act 2011 free download If line 8 is more than line 7, the dependent must file an income tax return. Tax act 2011 free download If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 8 is $5 or more   $3,350 Other Filing Requirements Some dependents may have to file a tax return even if their income is less than the amount that would normally require them to file a return. Tax act 2011 free download A dependent must file a tax return if he or she owes any other taxes, such as: Social security and Medicare taxes on tips not reported to his or her employer or on wages received from an employer who did not withhold these taxes, Uncollected social security and Medicare or railroad retirement taxes on tips reported to his or her employer or on group-term life insurance, Alternative minimum tax, Additional tax on a health savings account from Form 8889, Part III, Recapture taxes, such as the tax from recapture of an education credit, or Additional tax on a qualified plan, including an individual retirement arrangement (IRA), or other tax-favored account. Tax act 2011 free download But if the dependent is filing a return only because of this tax, the dependent can file Form 5329 by itself. Tax act 2011 free download A dependent must also file a tax return if he or she: Had wages of $108. Tax act 2011 free download 28 or more from a church or qualified church-controlled organization that is exempt from employer social security and Medicare taxes, or Had net earnings from self-employment of at least $400. Tax act 2011 free download Spouse itemizes. Tax act 2011 free download   A dependent must file a return if the dependent's spouse itemizes deductions on a separate return and the dependent has $5 or more of gross income (earned and/or unearned). Tax act 2011 free download Should a Return Be Filed Even If Not Required? Even if a dependent does not meet any of the filing requirements discussed earlier, he or she should file a tax return if either of the following applies. Tax act 2011 free download Income tax was withheld from his or her income. Tax act 2011 free download He or she qualifies for the earned income credit, additional child tax credit, health coverage tax credit, or refundable American opportunity education credit. Tax act 2011 free download See the tax return instructions to find out who qualifies for these credits. Tax act 2011 free download  By filing a return, the dependent can get a refund. Tax act 2011 free download Responsibility for Child's Return Generally, a child is responsible for filing his or her own tax return and for paying any tax, penalties, or interest on that return. Tax act 2011 free download If a child cannot file his or her own return for any reason, such as age, the child's parent, guardian, or other legally responsible person must file it for the child. Tax act 2011 free download Signing the child's return. Tax act 2011 free download   If the child cannot sign his or her return, a parent or guardian must sign the child's name followed by the words “By (signature), parent (or guardian) for minor child. Tax act 2011 free download ” Authority of parent or guardian. Tax act 2011 free download   A parent or guardian who signs a return on a child's behalf can deal with the IRS on all matters connected with the return. Tax act 2011 free download   In general, a parent or guardian who does not sign the child's return can only provide information concerning the child's return and pay the child's tax. Tax act 2011 free download That parent or guardian is not entitled to receive information from the IRS or legally bind the child to a tax liability arising from the return. Tax act 2011 free download Third party designee. Tax act 2011 free download   A child's parent or guardian who does not sign the child's return may be authorized, as a third party designee, to discuss the processing of the return with the IRS as well as provide information concerning the return. Tax act 2011 free download The child or the person signing the return on the child's behalf must check the “Yes” box in the “Third Party Designee” area of the return and name the parent or guardian as the designee. Tax act 2011 free download   If designated, a parent or guardian can respond to certain IRS notices and receive information about the processing of the return and the status of a refund or payment. Tax act 2011 free download This designation does not authorize the parent or guardian to receive any refund check, bind the child to any tax liability, or otherwise represent the child before the IRS. Tax act 2011 free download See the return instructions for more information. Tax act 2011 free download Designated as representative. Tax act 2011 free download   A parent or guardian who does not sign the child's return may be designated as the child's representative by the child or the person signing the return on the child's behalf. Tax act 2011 free download Form 2848, Power of Attorney and Declaration of Representative, is used to designate a child's representative. Tax act 2011 free download See Publication 947, Practice Before the IRS and Power of Attorney, for more information. Tax act 2011 free download   If designated, a parent or guardian can receive information about the child's return but cannot legally bind the child to a tax liability unless authorized to do so by the law of the state in which the child lives. Tax act 2011 free download IRS notice. Tax act 2011 free download   If you or the child receives a notice from the IRS concerning the child's return or tax liability, you should immediately inform the IRS that the notice concerns a child. Tax act 2011 free download The notice will show who to contact. Tax act 2011 free download The IRS will try to resolve the matter with the parent(s) or guardian(s) of the child consistent with their authority. Tax act 2011 free download Child's earnings. Tax act 2011 free download   For federal income tax purposes, amounts a child earns by performing services are included in the gross income of the child and not the gross income of the parent. Tax act 2011 free download This is true even if, under state law, the parent has the right to the earnings and may actually have received them. Tax act 2011 free download If the child does not pay the tax due on this income, the parent may be liable for the tax. Tax act 2011 free download Child's expenses. Tax act 2011 free download   Deductions for payments that are made out of a child's earnings are the child's, even if the payments are made by the parent. Tax act 2011 free download Example. Tax act 2011 free download You made payments on your child's behalf that are deductible as a business expense and a charitable contribution. Tax act 2011 free download You made the payments out of your child's earnings. Tax act 2011 free download These items can be deducted only on the child's return. Tax act 2011 free download Standard Deduction The standard deduction for an individual who can be claimed as a dependent on another person's tax return is generally limited to the larger of: $1,000, or The individual's earned income plus $350, but not more than the regular standard deduction (generally $6,100). Tax act 2011 free download However, the standard deduction may be higher for a dependent who: Is 65 or older, or Is blind. Tax act 2011 free download Certain dependents cannot claim any standard deduction. Tax act 2011 free download See Standard Deduction of Zero , later. Tax act 2011 free download Worksheet 1. Tax act 2011 free download   Use Worksheet 1 to figure the dependent's standard deduction. Tax act 2011 free download Worksheet 1. Tax act 2011 free download Standard Deduction Worksheet for Dependents Use this worksheet only if someone else can claim you (or your spouse, if filing jointly) as a dependent. Tax act 2011 free download If you were 65 or older and/or blind, check the correct number of boxes below. Tax act 2011 free download Put the total number of boxes checked in box c and go to line 1. Tax act 2011 free download a. Tax act 2011 free download You 65 or older   Blind   b. Tax act 2011 free download Your spouse, if claiming  spouse's exemption 65 or older   Blind   c. Tax act 2011 free download Total boxes checked         1. Tax act 2011 free download Enter your earned income (defined below) plus $350. Tax act 2011 free download If none, enter -0-. Tax act 2011 free download 1. Tax act 2011 free download     2. Tax act 2011 free download Minimum amount. Tax act 2011 free download   2. Tax act 2011 free download $1,000   3. Tax act 2011 free download Compare lines 1 and 2. Tax act 2011 free download Enter the larger of the two amounts here. Tax act 2011 free download 3. Tax act 2011 free download     4. Tax act 2011 free download Enter on line 4 the amount shown below for your filing status. Tax act 2011 free download       Single or Married filing separately—$6,100 Married filing jointly—$12,200 Head of household—$8,950 4. Tax act 2011 free download     5. Tax act 2011 free download Standard deduction. Tax act 2011 free download         a. Tax act 2011 free download Compare lines 3 and 4. Tax act 2011 free download Enter the smaller amount here. Tax act 2011 free download If under 65 and not blind, stop here. Tax act 2011 free download This is your standard deduction. Tax act 2011 free download Otherwise, go on to line 5b. Tax act 2011 free download 5a. Tax act 2011 free download     b. Tax act 2011 free download If 65 or older or blind, multiply $1,500 ($1,200 if married) by the number in box c above. Tax act 2011 free download Enter the result here. Tax act 2011 free download 5b. Tax act 2011 free download     c. Tax act 2011 free download Add lines 5a and 5b. Tax act 2011 free download This is your standard deduction for 2013. Tax act 2011 free download 5c. Tax act 2011 free download     Earned income includes wages, salaries, tips, professional fees, and other compensation received for personal services you performed. Tax act 2011 free download It also includes any amount received as a scholarship that you must include in income. Tax act 2011 free download   Example 1. Tax act 2011 free download Michael is single, age 15, and not blind. Tax act 2011 free download His parents can claim him as a dependent on their tax return. Tax act 2011 free download He has taxable interest income of $800 and wages of $150. Tax act 2011 free download He enters $500 (his earned income plus $350) on line 1 of Worksheet 1. Tax act 2011 free download On line 3, he enters $1,000, the larger of $500 or $1,000. Tax act 2011 free download Michael enters $6,100 on line 4. Tax act 2011 free download On line 5a, he enters $1,000, the smaller of $1,000 or $6,100. Tax act 2011 free download His standard deduction is $1,000. Tax act 2011 free download Example 2. Tax act 2011 free download Judy, a full-time student, is single, age 22, and not blind. Tax act 2011 free download Her parents can claim her as a dependent on their tax return. Tax act 2011 free download She has dividend income of $275 and wages of $2,500. Tax act 2011 free download She enters $2,850 (her earned income plus $350) on line 1 of Worksheet 1. Tax act 2011 free download On line 3, she enters $2,850, the larger of $2,850 or $1,000. Tax act 2011 free download She enters $6,100 on line 4. Tax act 2011 free download On line 5a, she enters $2,850 (the smaller of $2,850 or $6,100) as her standard deduction. Tax act 2011 free download Example 3. Tax act 2011 free download Amy, who is single, is claimed as a dependent on her parents' tax return. Tax act 2011 free download She is 18 years old and blind. Tax act 2011 free download She has taxable interest income of $1,000 and wages of $2,000. Tax act 2011 free download She enters $2,350 (her earned income plus $350) on line 1 of Worksheet 1. Tax act 2011 free download She enters $2,350 (the larger of $2,350 or $1,000) on line 3, $6,100 on line 4, and $2,350 (the smaller of $2,350 or $6,100) on line 5a. Tax act 2011 free download Because Amy is blind, she checks the box for blindness and enters “1” in box c at the top of Worksheet 1. Tax act 2011 free download She enters $1,500 (the number in box c times $1,500) on line 5b. Tax act 2011 free download Her standard deduction on line 5c is $3,850 ($2,350 + $1,500). Tax act 2011 free download Standard Deduction of Zero The standard deduction for the following dependents is zero. Tax act 2011 free download A married dependent filing a separate return whose spouse itemizes deductions. Tax act 2011 free download A dependent who files a return for a period of less than 12 months due to a change in his or her annual accounting period. Tax act 2011 free download A nonresident or dual-status alien dependent, unless the dependent is married to a U. Tax act 2011 free download S. Tax act 2011 free download citizen or resident alien at the end of the year and chooses to be treated as a U. Tax act 2011 free download S. Tax act 2011 free download resident for the year. Tax act 2011 free download See Publication 519, U. Tax act 2011 free download S. Tax act 2011 free download Tax Guide for Aliens, for information on making this choice. Tax act 2011 free download Example. Tax act 2011 free download Jennifer, who is a dependent of her parents, is entitled to file a joint return with her husband. Tax act 2011 free download However, her husband elects to file a separate return and itemize his deductions. Tax act 2011 free download Because he itemizes, Jennifer's standard deduction on her return is zero. Tax act 2011 free download She can, however, itemize any of her allowable deductions. Tax act 2011 free download Dependent's Own Exemption A person who can be claimed as a dependent on another taxpayer's return cannot claim his or her own exemption. Tax act 2011 free download This is true even if the other taxpayer does not actually claim the exemption. Tax act 2011 free download Example. Tax act 2011 free download James and Barbara can claim their child, Ben, as a dependent on their return. Tax act 2011 free download Ben is a college student who works during the summer and must file a tax return. Tax act 2011 free download Ben cannot claim his own exemption on his return. Tax act 2011 free download This is true even if James and Barbara do not claim him as a dependent on their return. Tax act 2011 free download Withholding From Wages Employers generally withhold federal income tax, social security tax, and Medicare tax from an employee's wages. Tax act 2011 free download If the employee claims exemption from withholding on Form W-4, the employer will not withhold federal income tax. Tax act 2011 free download The exemption from withholding does not apply to social security and Medicare taxes. Tax act 2011 free download Conditions for exemption from withholding. Tax act 2011 free download   An employee can claim exemption from withholding for 2014 only if he or she meets both of the following conditions. Tax act 2011 free download For 2013, the employee had a right to a refund of all federal income tax withheld because he or she had no tax liability. Tax act 2011 free download For 2014, the employee expects a refund of all federal income tax withheld because he or she expects to have no tax liability. Tax act 2011 free download Dependents. Tax act 2011 free download   An employee who is a dependent ordinarily cannot claim exemption from withholding if both of the following are true. Tax act 2011 free download The employee's gross income will be more than $1,000, the minimum standard deduction for 2014. Tax act 2011 free download The employee's unearned income will be more than $350. Tax act 2011 free download Exceptions. Tax act 2011 free download   An employee may be able to claim exemption from withholding even if the employee is a dependent, if the employee: Is age 65 or older, Is blind, or Will claim on his or her 2014 tax return: Adjustments to income, Tax credits, or Itemized deductions. Tax act 2011 free download The above exceptions do not apply to supplemental wages greater than $1,000,000. Tax act 2011 free download For more information, see Exemption From Withholding in chapter 1 of Publication 505. Tax act 2011 free download Example. Tax act 2011 free download Guy is 17 and a student. Tax act 2011 free download During the summer he works part time at a grocery store. Tax act 2011 free download He expects to earn about $1,200 this year. Tax act 2011 free download He also worked at the store last summer and received a refund of all his withheld income tax because he did not have a tax liability. Tax act 2011 free download The only other income he expects during the year is $375 interest on a savings account. Tax act 2011 free download He expects that his parents will be able to claim him as a dependent on their tax return. Tax act 2011 free download He is not blind and will not claim adjustments to income, itemized deductions, a higher standard deduction, or tax credits on his return. Tax act 2011 free download Guy cannot claim exemption from withholding when he fills out Form W-4 because his parents will be able to claim him as a dependent, his gross income will be more than $1,000 (the minimum standard deduction amount) and his unearned income will be more than $350. Tax act 2011 free download Claiming exemption from withholding. Tax act 2011 free download    To claim exemption from withholding, an employee must enter “Exempt” in the space provided on Form W-4, line 7. Tax act 2011 free download The employee must complete the rest of the form, as explained in the form instructions, and give it to his or her employer. Tax act 2011 free download Renewing an exemption from withholding. Tax act 2011 free download   An exemption from withholding is good for only one year. Tax act 2011 free download An employee must file a new Form W-4 by February 15 each year to continue the exemption. Tax act 2011 free download Part 2. Tax act 2011 free download Tax on Unearned Income of Certain Children The two rules that follow may affect the tax on the unearned income of certain children. Tax act 2011 free download 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. Tax act 2011 free download (See Parent's Election To Report Child's Interest and Dividends , later. Tax act 2011 free download ) 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. Tax act 2011 free download (See Tax for Certain Children Who Have Unearned Income , later. Tax act 2011 free download ) For these rules, the term “child” includes a legally adopted child and a stepchild. Tax act 2011 free download These rules apply whether or not the child is a dependent. Tax act 2011 free download These rules do not apply if neither of the child's parents were living at the end of the year. Tax act 2011 free download 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. Tax act 2011 free download 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 . Tax act 2011 free download 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. Tax act 2011 free download Only the parent whose tax return is used can make the election described under Parent's Election To Report Child's Interest and Dividends . Tax act 2011 free download Parents are married. Tax act 2011 free download   If the child's parents file separate returns, use the return of the parent with the greater taxable income. Tax act 2011 free download Parents not living together. Tax act 2011 free download   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. Tax act 2011 free download If the custodial parent is not considered unmarried, use the return of the parent with the greater taxable income. Tax act 2011 free download   For an explanation of when a married person living apart from his or her spouse is considered unmarried, see Head of Household in Publication 501. Tax act 2011 free download Parents are divorced. Tax act 2011 free download   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. Tax act 2011 free download Custodial parent remarried. Tax act 2011 free download   If the custodial parent has remarried, the stepparent (rather than the noncustodial parent) is treated as the child's other parent. Tax act 2011 free download Therefore, if the custodial parent and the stepparent file a joint return, use that joint return. Tax act 2011 free download Do not use the return of the noncustodial parent. Tax act 2011 free download   If the custodial parent and the stepparent are married, but file separate returns, use the return of the one with the greater taxable income. Tax act 2011 free download If the custodial parent and the stepparent are married but not living together, the earlier discussion under Parents not living together applies. Tax act 2011 free download Parents never married. Tax act 2011 free download   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. Tax act 2011 free download If the parents did not live together all year, the rules explained earlier under Parents are divorced apply. Tax act 2011 free download Widowed parent remarried. Tax act 2011 free download   If a widow or widower remarries, the new spouse is treated as the child's other parent. Tax act 2011 free download The rules explained earlier under Custodial parent remarried apply. Tax act 2011 free download 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. Tax act 2011 free download If you do, your child will not have to file a return. Tax act 2011 free download You can make this election only if all the following conditions are met. Tax act 2011 free download Your child was under age 19 (or under age 24 if a full-time student) at the end of the year. Tax act 2011 free download Your child had income only from interest and dividends (including capital gain distributions and Alaska Permanent Fund dividends). Tax act 2011 free download The child's gross income was less than $10,000. Tax act 2011 free download The child is required to file a return unless you make this election. Tax act 2011 free download The child does not file a joint return for the year. Tax act 2011 free download 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. Tax act 2011 free download No federal income tax was withheld from your child's income under the backup withholding rules. Tax act 2011 free download You are the parent whose return must be used when applying the special tax rules for children. Tax act 2011 free download (See Which Parent's Return To Use , earlier. Tax act 2011 free download ) These conditions are also shown in Figure 1. Tax act 2011 free download Certain January 1 birthdays. Tax act 2011 free download   A child born on January 1, 1995, is considered to be age 19 at the end of 2013. Tax act 2011 free download You cannot make this election for such a child unless the child was a full-time student. Tax act 2011 free download   A child born on January 1, 1990, is considered to be age 24 at the end of 2013. Tax act 2011 free download You cannot make this election for such a child. Tax act 2011 free download How to make the election. Tax act 2011 free download    Make the election by attaching Form 8814 to your Form 1040 or Form 1040NR. Tax act 2011 free download (If you make this election, you cannot file Form 1040A or Form 1040EZ. Tax act 2011 free download ) Attach a separate Form 8814 for each child for whom you make the election. Tax act 2011 free download You can make the election for one or more children and not for others. Tax act 2011 free download Effect of Making the Election The federal income tax on your child's income may be more if you make the Form 8814 election. Tax act 2011 free download Rate may be higher. Tax act 2011 free download   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. Tax act 2011 free download This is because the tax rate on the child's income between $1,000 and $2,000 is 10% if you make this election. Tax act 2011 free download 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. Tax act 2011 free download Deductions you cannot take. Tax act 2011 free download   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. Tax act 2011 free download The additional standard deduction if the child is blind. Tax act 2011 free download The deduction for a penalty on an early withdrawal of your child's savings. Tax act 2011 free download Itemized deductions (such as your child's investment expenses or charitable contributions). Tax act 2011 free download Figure 1. Tax act 2011 free download Can You Include Your Child's Income On Your Tax Return? Please click here for the text description of the image. Tax act 2011 free download Figure 1. Tax act 2011 free download Can You Include Your Child's Income On Your Tax Return? Deductible investment interest. Tax act 2011 free download   If you use Form 8814, your child's unearned income is considered your unearned income. Tax act 2011 free download To figure the limit on your deductible investment interest, add the child's unearned income to yours. Tax act 2011 free download However, if your child received qualified dividends, capital gain distributions, or Alaska Permanent Fund dividends, see chapter 3 of Publication 550 for information about how to figure the limit. Tax act 2011 free download Alternative minimum tax. Tax act 2011 free download    If your child received tax-exempt interest (or exempt-interest dividends paid by a regulated investment company) from certain private activity bonds, you must determine if that interest is a tax preference item for alternative minimum tax (AMT) purposes. Tax act 2011 free download If it is, you must include it with your own tax preference items when figuring your AMT. Tax act 2011 free download See Form 6251, Alternative Minimum Tax—Individuals, and its instructions for details. Tax act 2011 free download Reduced deductions or credits. Tax act 2011 free download   If you use Form 8814, your increased adjusted gross income may reduce certain deductions or credits on your return, including the following. Tax act 2011 free download Deduction for contributions to a traditional individual retirement arrangement (IRA). Tax act 2011 free download Deduction for student loan interest. Tax act 2011 free download Itemized deductions for medical expenses, casualty and theft losses, and certain miscellaneous expenses. Tax act 2011 free download Credit for child and dependent care expenses. Tax act 2011 free download Child tax credit. Tax act 2011 free download Education tax credits. Tax act 2011 free download Earned income credit. Tax act 2011 free download Penalty for underpayment of estimated tax. Tax act 2011 free download   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. Tax act 2011 free download 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. Tax act 2011 free download Get Publication 505 for more information. Tax act 2011 free download Figuring Child's Income Use Form 8814, Part I, to figure your child's interest and dividend income to report on your return. Tax act 2011 free download Only the amount over $2,000 is added to your income. Tax act 2011 free download The amount over $2,000 is shown on Form 8814, line 6. Tax act 2011 free download Unless the child's income includes qualified dividends or capital gain distributions (discussed next), the same amount is shown on Form 8814, line 12. Tax act 2011 free download Include the amount from Form 8814, line 12, on Form 1040 or Form 1040NR, line 21. Tax act 2011 free download If you file more than one Form 8814, include the total amounts from line 12 of all your Forms 8814 on Form 1040 or Form 1040NR, line 21. Tax act 2011 free download On the dotted line next to line 21, enter “Form 8814” and the total of the Form 8814, line 12 amounts. Tax act 2011 free download Note. Tax act 2011 free download The tax on the first $2,000 is figured on Form 8814, Part II. Tax act 2011 free download See Figuring Additional Tax , later. Tax act 2011 free download Qualified dividends. Tax act 2011 free download   Enter on Form 8814, line 2a, any ordinary dividends your child received. Tax act 2011 free download This amount may include qualified dividends. Tax act 2011 free download Qualified dividends are those dividends reported on Form 1040, line 9b, or Form 1040NR, line 10b, and are eligible for lower tax rates that apply to a net capital gain. Tax act 2011 free download For detailed information about qualified dividends, see Publication 550. Tax act 2011 free download   If your child received qualified dividends, the amount of these dividends that is added to your income must be reported on Form 1040, lines 9a and 9b, or Form 1040NR, lines 10a and 10b. Tax act 2011 free download You do not include these dividends on Form 8814, line 12, or on line 21 of Form 1040 or Form 1040NR. Tax act 2011 free download   Enter the child's qualified dividends on Form 8814, line 2b. Tax act 2011 free download But do not include this amount on Form 1040, lines 9a and 9b, or Form 1040NR, lines 10a and 10b. Tax act 2011 free download Instead, include the amount from Form 8814, line 9, on Form 1040, lines 9a and 9b, or Form 1040NR, lines 10a and 10b. Tax act 2011 free download (The amount on Form 8814, line 9, may be less than the amount on Form 8814, line 2b, because lines 7 through 12 of the form divide the $2,000 base amount on Form 8814, line 5, between the child's qualified dividends, capital gain distributions, and other interest and dividend income, reducing each of those amounts. Tax act 2011 free download ) Capital gain distributions. Tax act 2011 free download   Enter on Form 8814, line 3, any capital gain distributions your child received. Tax act 2011 free download The amount of these distributions that is added to your income must be reported on Schedule D (Form 1040), line 13, or, if you are not required to file Schedule D, on Form 1040, line 13, or Form 1040NR, line 14. Tax act 2011 free download You do not include it on Form 8814, line 12, or on line 21 of Form 1040 or Form 1040NR. Tax act 2011 free download   Include the amount from Form 8814, line 10, on Schedule D, line 13; Form 1040, line 13; or Form 1040NR, line 14, whichever applies. Tax act 2011 free download (The amount on Form 8814, line 10, may be less than the amount on Form 8814, line 3, because lines 7 through 12 of the form divide the $2,000 base amount on Form 8814, line 5, between the child's qualified dividends, capital gain distributions, and other interest and dividend income, reducing each of those amounts. Tax act 2011 free download ) Collectibles (28% rate) gain. Tax act 2011 free download    If any of the child's capital gain distributions are reported on Form 1099-DIV as collectibles (28% rate) gain, you must determine how much to also include on line 4 of the 28% Rate Gain Worksheet, in the instructions for Schedule D, line 18. Tax act 2011 free download Multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. Tax act 2011 free download The numerator is the part of the child's total capital gain distribution that is collectibles (28% rate) gain. Tax act 2011 free download The denominator is the child's total capital gain distribution. Tax act 2011 free download Enter the result on line 4 of the 28% Rate Gain Worksheet. Tax act 2011 free download Unrecaptured section 1250 gain. Tax act 2011 free download   If any of the child's capital gain distributions are reported on Form 1099-DIV as unrecaptured section 1250 gain, you must determine how much to include on line 11 of the Unrecaptured Section 1250 Gain Worksheet in the instructions for Schedule D, line 19. Tax act 2011 free download Multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. Tax act 2011 free download The numerator is the part of the child's total capital gain distribution that is unrecaptured section 1250 gain. Tax act 2011 free download The denominator is the child's total capital gain distribution. Tax act 2011 free download Enter the result on the Unrecaptured Section 1250 Gain Worksheet, line 11. Tax act 2011 free download Section 1202 gain. Tax act 2011 free download   If any of the child's capital gain distributions are reported as section 1202 gain (gain on qualified small business stock) on Form 1099-DIV, part or all of that gain may be eligible for the section 1202 exclusion. Tax act 2011 free download (For information about the exclusion, see chapter 4 of Publication 550. Tax act 2011 free download ) To figure that part, multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. Tax act 2011 free download The numerator is the part of the child's total capital gain distribution that is section 1202 gain. Tax act 2011 free download The denominator is the child's total capital gain distribution. Tax act 2011 free download Your section 1202 exclusion is generally 50% of the result, but may be subject to a limit. Tax act 2011 free download In some cases, the exclusion is more than 50%. Tax act 2011 free download See the instructions for Schedule D for details and information on how to report the exclusion amount. Tax act 2011 free download Example. Tax act 2011 free download Fred is 6 years old. Tax act 2011 free download In 2013, he received dividend income of $2,100, which included $1,575 of ordinary dividends and a $525 capital gain distribution from a mutual fund. Tax act 2011 free download (None of the distributions were reported on Form 1099-DIV as unrecaptured section 1250 gain, section 1202 gain, or collectibles (28% rate) gain. Tax act 2011 free download ) All of the ordinary dividends are qualified dividends. Tax act 2011 free download He has no other income and is not subject to backup withholding. Tax act 2011 free download No estimated tax payments were made under his name and social security number. Tax act 2011 free download Fred's parents elect to include Fred's income on their tax return instead of filing a return for him. Tax act 2011 free download They figure the amount to report on Form 1040, lines 9a and 9b, the amount to report on their Schedule D, line 13, and the amount to report on Form 1040, line 21, as follows. Tax act 2011 free download They leave lines 1a and 1b of Form 8814 blank because Fred does not have any interest income. Tax act 2011 free download They enter his ordinary dividends of $1,575 on lines 2a and 2b because all of Fred's ordinary dividends are qualified dividends. Tax act 2011 free download They enter the amount of Fred's capital gain distributions, $525, on line 3. Tax act 2011 free download Next, they add the amounts on lines 1a, 2a, and 3 and enter the result, $2,100, on line 4. Tax act 2011 free download They subtract the base amount on line 5, $2,000, from the amount on line 4, $2,100, and enter the result, $100, on line 6. Tax act 2011 free download This is the total amount from Form 8814 to be reported on their return. Tax act 2011 free download Next, they figure how much of this amount is qualified dividends and how much is capital gain distributions. Tax act 2011 free download They divide the amount on line 2b, $1,575, by the amount on line 4, $2,100. Tax act 2011 free download They enter the result, . Tax act 2011 free download 75, on line 7. Tax act 2011 free download They divide the amount on line 3, $525, by the amount on line 4, $2,100. Tax act 2011 free download They enter the result, . Tax act 2011 free download 25, on line 8. Tax act 2011 free download They multiply the amount on line 6, $100, by the decimal on line 7, . Tax act 2011 free download 75, and enter the result, $75, on line 9. Tax act 2011 free download They multiply the amount on line 6, $100, by the decimal on line 8, . Tax act 2011 free download 25, and enter the result, $25, on line 10. Tax act 2011 free download They include the amount from line 9, $75, on lines 9a and 9b of their Form 1040 and enter “Form 8814 – $75” on the dotted lines next to lines 9a and 9b. Tax act 2011 free download They include the amount from line 10, $25, on line 13 of their Schedule D (Form 1040) and enter “Form 8814 – $25” on the dotted line next to Schedule D, line 13. Tax act 2011 free download They enter $100 ($75 + $25) on line 11 and -0- ($100 – $100) on line 12. Tax act 2011 free download Because the amount on line 12 is -0-, they do not include any amount from Form 8814 on their Form 1040, line 21. Tax act 2011 free download 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. Tax act 2011 free download This tax is added to the tax figured on your income. Tax act 2011 free download This additional tax is the smaller of: 10% x (your child's gross income − $1,000), or $100. Tax act 2011 free download Include the amount from line 15 of all your Forms 8814 in the total on Form 1040, line 44, or Form 1040NR, line 42. Tax act 2011 free download Check box a on Form 1040, line 44, or Form 1040NR, line 42. Tax act 2011 free download 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. Tax act 2011 free download 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. Tax act 2011 free download Attach the completed form to the child's Form 1040, Form 1040A, or Form 1040NR. Tax act 2011 free download When Form 8615 must be filed. Tax act 2011 free download   Form 8615 must be filed for a child if all of the following statements are true. Tax act 2011 free download The child's unearned income was more than $2,000. Tax act 2011 free download The child is required to file a return for 2013. Tax act 2011 free download 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. Tax act 2011 free download At least one of the child's parents was alive at the end of 2013. Tax act 2011 free download The child does not file a joint return for 2013. Tax act 2011 free download These conditions are also shown in Figure 2. Tax act 2011 free download Certain January 1 birthdays. Tax act 2011 free download   Use the following chart to determine whether certain children with January 1 birthdays meet condition 3 under When Form 8615 must be filed. Tax act 2011 free download IF a child was born on. Tax act 2011 free download . Tax act 2011 free download . Tax act 2011 free download THEN, at the end of 2013, the child is considered to be. Tax act 2011 free download . Tax act 2011 free download . Tax act 2011 free download January 1, 1996 18* January 1, 1995 19** January 1, 1990 24*** *This child is not under age 18. Tax act 2011 free download The child meets condition 3 only if the child did not have earned income that was more than half of the child's support. Tax act 2011 free download  **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. Tax act 2011 free download  ***Do not use Form 8615 for this child. Tax act 2011 free download Figure 2. Tax act 2011 free download Do You Have To Use Form 8615 To Figure Your Child's Tax? Please click here for the text description of the image. Tax act 2011 free download Figure 2. Tax act 2011 free download Do You Have To Use Form 8615 To Figure Your Child's Tax? Providing Parental Information (Form 8615, Lines A–C) On Form 8615, lines A and B, enter the parent's name and social security number. Tax act 2011 free download (If the parents filed a joint return, enter the name and social security number listed first on the joint return. Tax act 2011 free download ) On line C, check the box for the parent's filing status. Tax act 2011 free download See Which Parent's Return To Use, earlier, for information on which parent's return information must be used on Form 8615. Tax act 2011 free download Parent with different tax year. Tax act 2011 free download   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. Tax act 2011 free download Example. Tax act 2011 free download Kimberly must use her mother's tax and taxable income to complete her Form 8615 for calendar year 2013 (January 1 – December 31). Tax act 2011 free download Kimberly's mother files her tax return on a fiscal year basis (July 1 – June 30). Tax act 2011 free download Kimberly must use the information on her mother's return for the tax year ending June 30, 2013, to complete her 2013 Form 8615. Tax act 2011 free download Parent's return information not known timely. Tax act 2011 free download   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. Tax act 2011 free download   You can use any reasonable estimate. Tax act 2011 free download This includes using information from last year's return. Tax act 2011 free download If you use an estimated amount on Form 8615, enter “Estimated” on the line next to the amount. Tax act 2011 free download   When you get the correct information, file an amended return on Form 1040X, Amended U. Tax act 2011 free download S. Tax act 2011 free download Individual Income Tax Return. Tax act 2011 free download Extension of time to file. Tax act 2011 free download   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. Tax act 2011 free download S. Tax act 2011 free download Individual Income Tax Return. Tax act 2011 free download See the instructions for Form 4868 for details. Tax act 2011 free download    An extension of time to file is not an extension of time to pay. Tax act 2011 free download You must make an accurate estimate of the tax for 2013. Tax act 2011 free download If you do not pay the full amount due by the regular due date, the child will owe interest and may also be charged penalties. Tax act 2011 free download See Form 4868 and its instructions. Tax act 2011 free download Parent's return information not available. Tax act 2011 free download   If a child cannot get the required information about his or her parent's tax return, the child (or the child's legal representative) can request the necessary information from the Internal Revenue Service (IRS). Tax act 2011 free download How to request. Tax act 2011 free download   After the end of the tax year, send a signed, written request for the information to the Internal Revenue Service Center where the parent's return will be filed. Tax act 2011 free download (The IRS cannot process a request received before the end of the tax year. Tax act 2011 free download )    You should also consider getting an extension of time to file the child's return, because there may be a delay in getting the requested information. Tax act 2011 free download   The request must contain all of the following. Tax act 2011 free download A statement that you are making the request to comply with section 1(g) of the Internal Revenue Code and that you have tried to get the information from the parent. Tax act 2011 free download Proof of the child's age (for example, a copy of the child's birth certificate). Tax act 2011 free download Evidence the child has more than $2,000 of unearned income (for example, a copy of the child's prior year tax return or copies of Forms 1099 for the current year). Tax act 2011 free download The name, address, social security number (if known), and filing status (if known) of the parent whose information is to be shown on Form 8615. Tax act 2011 free download    A child's legal representative making the request should include a copy of his or her Power of Attorney, such as Form 2848, or proof of legal guardianship. Tax act 2011 free download Step 1. Tax act 2011 free download 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. Tax act 2011 free download To do that, use Form 8615, Part I. Tax act 2011 free download Line 1 (Unearned Income) If the child had no earned income, enter on this line the adjusted gross income shown on the child's return. Tax act 2011 free download Adjusted gross income is shown on Form 1040, line 38; Form 1040A, line 22; or Form 1040NR, line 37. Tax act 2011 free download Form 1040EZ and Form 1040NR-EZ cannot be used if Form 8615 must be filed. Tax act 2011 free download 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. Tax act 2011 free download However, use the following worksheet if: the child has excluded any foreign earned income, deducted a loss from self-employment, or has a net operating loss from another year. Tax act 2011 free download Alternate Worksheet for Form 8615, Line 1 A. Tax act 2011 free download Enter the amount from the child's Form 1040, line 22, or Form 1040NR, line 23   B. Tax act 2011 free download Enter the total of any net loss  from self-employment, any net operating loss deduction, any foreign earned income exclusion, and any foreign housing exclusion from the child's Form 1040 or Form 1040NR. Tax act 2011 free download Enter this total as a positive number (greater than zero)   C. Tax act 2011 free download Add line A and line B and  enter the total   D. Tax act 2011 free download Enter the child's earned income plus any amount from the child's Form 1040, line 30, or the child's Form 1040NR, line 30     Generally, the child's earned income is the total of the amounts reported on Form 1040, lines 7, 12, and 18 (if line 12 or 18 is a loss, use zero) or Form 1040NR, lines 8, 13, and 19 (if line 13 or 19 is a loss, use zero)   E. Tax act 2011 free download Subtract line D from line C. Tax act 2011 free download Enter the result here and on Form 8615, line 1   Unearned income defined. Tax act 2011 free download   Unearned income is generally all income other than salaries, wages, and other amounts received as pay for work actually performed. Tax act 2011 free download It includes taxable interest, dividends, capital gains (including capital gain distributions), the taxable part of social security and pension payments, certain distributions from trusts, and unemployment compensation. Tax act 2011 free download 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). Tax act 2011 free download Nontaxable income. Tax act 2011 free download   For this purpose, unearned income includes only amounts the child must include in gross income. Tax act 2011 free download Nontaxable unearned income, such as tax-exempt interest and the nontaxable part of social security and pension payments, is not included. Tax act 2011 free download Capital loss. Tax act 2011 free download   A child's capital losses are taken into account in figuring the child's unearned income. Tax act 2011 free download Capital losses are first applied against capital gains. Tax act 2011 free download If the capital losses are more than the capital gains, the difference (up to $3,000) is subtracted from the child's interest, dividends, and other unearned income. Tax act 2011 free download Any difference over $3,000 is carried to the next year. Tax act 2011 free download Income from property received as a gift. Tax act 2011 free download   A child's unearned income includes all income produced by property belonging to the child. Tax act 2011 free download 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. Tax act 2011 free download   A child's unearned income includes income produced by property given as a gift to the child. Tax act 2011 free download This includes gifts to the child from grandparents or any other person and gifts made under the Uniform Gift to Minors Act. Tax act 2011 free download Example. Tax act 2011 free download Amanda Black, age 13, received the following income. Tax act 2011 free download Dividends—$800 Wages—$2,100 Taxable interest—$1,200 Tax-exempt interest—$100 Capital gains—$300 Capital losses—($200) The dividends were qualified dividends on stock given to her by her grandparents. Tax act 2011 free download Amanda's unearned income is $2,100. Tax act 2011 free download This is the total of the dividends ($800), taxable interest ($1,200), and capital gains reduced by capital losses ($300 − $200 = $100). Tax act 2011 free download Her wages are earned (not unearned) income because they are received for work actually performed. Tax act 2011 free download Her tax-exempt interest is not included because it is nontaxable. Tax act 2011 free download Trust income. Tax act 2011 free download   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. Tax act 2011 free download   However, taxable distributions from a qualified disability trust are considered earned income for the purposes of completing Form 8615. Tax act 2011 free download See the Form 8615 instructions for details. Tax act 2011 free download Adjustment to income. Tax act 2011 free download   In figuring the amount to enter on line 1, the child's unearned income is reduced by any penalty on the early withdrawal of savings. Tax act 2011 free download Line 2 (Deductions) If the child does not itemize deductions on Schedule A (Form 1040 or Form 1040NR), enter $2,000 on line 2. Tax act 2011 free download If the child itemizes 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 (or Schedule A (Form 1040NR), line 15), that are directly connected with the production of the unearned income entered on line 1, or $2,000. Tax act 2011 free download Directly connected. Tax act 2011 free download   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. Tax act 2011 free download These expenses include custodian fees and service charges, service fees to collect taxable interest and dividends, and certain investment counsel fees. Tax act 2011 free download    These expenses are added to certain other miscellaneous itemized deductions on Schedule A (Form 1040). Tax act 2011 free download Only the amount greater than 2% of the child's adjusted gross income can be deducted. Tax act 2011 free download See Publication 529, Miscellaneous Deductions, for more information. Tax act 2011 free download Example 1. Tax act 2011 free download 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%-of-adjusted-gross-income limit) that are directly connected with his unearned income. Tax act 2011 free download His adjusted gross income is $8,000, which is entered on Form 1040, line 38, and on Form 8615, line 1. Tax act 2011 free download 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. Tax act 2011 free download Example 2. Tax act 2011 free download Eleanor, age 8, has unearned income of $16,000 and an early withdrawal penalty of $100. Tax act 2011 free download She has no other income. Tax act 2011 free download She has itemized deductions of $1,050 (net of the 2%-of-adjusted-gross-income limit) that are directly connected with the production of her unearned income. Tax act 2011 free download Her adjusted gross income, entered on line 1, is $15,900 ($16,000 − $100). Tax act 2011 free download The amount on line 2 is $2,050. Tax act 2011 free download This is the larger of: $1,000 plus the $1,050 of directly connected itemized deductions, or $2,000. Tax act 2011 free download Line 3 Subtract line 2 from line 1 and enter the result on this line. Tax act 2011 free download If zero or less, do not complete the rest of the form. Tax act 2011 free download However, you must still attach Form 8615 to the child's tax return. Tax act 2011 free download Figure the tax on the child's taxable income in the normal manner. Tax act 2011 free download Line 4 (Child's Taxable Income) Enter on line 4 the child's taxable income from Form 1040, line 43; Form 1040A, line 27; or Form 1040NR, line 41. Tax act 2011 free download Child files Form 2555 or 2555-EZ. Tax act 2011 free download   If the child files Form 2555 or 2555-EZ to claim the foreign earned income exclusion, housing exclusion, or housing deduction, the Foreign Earned Income Tax Worksheet (in the Form 1040 instructions) is used to figure the child's tax. Tax act 2011 free download Enter the amount from line 3 of the Foreign Earned Income Tax Worksheet as the child's taxable income on Form 8615, line 4. Tax act 2011 free download Line 5 (Net Unearned Income) A child's net unearned income cannot be more than his or her taxable income. Tax act 2011 free download Enter on Form 8615, line 5, the smaller of line 3 or line 4. Tax act 2011 free download This is the child's net unearned income. Tax act 2011 free download If zero or less, do not complete the rest of the form. Tax act 2011 free download However, you must still attach Form 8615 to the child's tax return. Tax act 2011 free download Figure the tax on the child's taxable income in the normal manner. Tax act 2011 free download Step 2. Tax act 2011 free download Figuring a 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. Tax act 2011 free download 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. Tax act 2011 free download 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. Tax act 2011 free download For example, do not refigure the medical expense deduction. Tax act 2011 free download Figure the tentative tax on Form 8615, lines 6 through 13. Tax act 2011 free download Line 6 (Parent's Taxable Income) Enter on line 6 the amount from the parent's Form 1040, line 43; Form 1040A, line 27; Form 1040EZ, line 6; Form 1040NR, line 41; or Form 1040NR-EZ, line 14. Tax act 2011 free download If the parent's taxable income is zero or less, enter zero on line 6. Tax act 2011 free download Parent files Form 2555 or 2555-EZ. Tax act 2011 free download   If the parent files Form 2555 or 2555-EZ to claim the foreign earned income exclusion, housing exclusion, or housing deduction, the Foreign Earned Income Tax Worksheet in the Form 1040 instructions is used to figure the parent's tax. Tax act 2011 free download Enter the amount from line 3 of the Foreign Earned Income Tax Worksheet as the parent's taxable income, on line 6 of Form 8615. Tax act 2011 free download Line 7 (Net Unearned Income of Other Children) 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. Tax act 2011 free download Do not include the amount from line 5 of the Form 8615 being completed. Tax act 2011 free download (The term “other child” means any other child whose Form 8615 uses the tax information of the parent identified on Lines A and B of Form 8615. Tax act 2011 free download ) Example. Tax act 2011 free download Paul and Jane Persimmon have three children, Sharon, Jerry, and Mike, who must attach Form 8615 to their tax returns. Tax act 2011 free download 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. Tax act 2011 free download Line 7 of Jerry's Form 8615 will show $1,800 ($800 + $1,000). Tax act 2011 free download Line 7 of Mike's Form 8615 will show $1,400 ($800 + $600). Tax act 2011 free download Other children's information not available. Tax act 2011 free download   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. Tax act 2011 free download Estimates and extensions are discussed earlier under Providing Parental Information (Form 8615, Lines A–C) . Tax act 2011 free download Line 8 (Parent's Taxable Income Plus Children's Net Unearned Income) Enter on this line the total of lines 5, 6, and 7. Tax act 2011 free download You must determine the amount of net capital gain and qualified dividends included on this line before completing Form 8615, line 9. Tax act 2011 free download Net capital gain. Tax act 2011 free download   Net capital gain is the smaller of the gain, if any, on Schedule D (Form 1040), line 15, or the gain, if any, on Schedule D, line 16. Tax act 2011 free download If Schedule D is not required, it is the amount on Form 1040, line 13; Form 1040A, line 10; or Form 1040NR, line 14. Tax act 2011 free download Qualified dividends. Tax act 2011 free download   Qualified dividends are those dividends reported on line 9b of Form 1040 or Form 1040A, or line 10b of Form 1040NR. Tax act 2011 free download Net capital gain and qualified dividends on line 8. Tax act 2011 free download   If neither the child, nor the parent, nor any other child has net capital gain, the net capital gain on line 8 is zero. Tax act 2011 free download   If neither the child, nor the parent, nor any other child has qualified dividends, the amount of qualified dividends on line 8 is zero. Tax act 2011 free download   If the child, parent, or any other child has net capital gain, figure the amount of net capital gain included on line 8 by adding together the net capital gain amounts included on lines 5, 6, and 7 of Form 8615. Tax act 2011 free download   If the child, parent, or any other child has qualified dividends, figure the amount of qualified dividends included on line 8 by adding together the qualified dividend amounts included on lines 5, 6, and 7. Tax act 2011 free download   Use the instructions for Form 8615, line 8, including the appropriate Line 5 Worksheet, to find these amounts. Tax act 2011 free download See the instructions for Form 8615 for more details. Tax act 2011 free download Note. Tax act 2011 free download The amount of any net capital gain or qualified dividends is not separately reported on line 8. Tax act 2011 free download It is  needed, however, when figuring the tax on line 9. Tax act 2011 free download Line 9 (Tax on Parent's Taxable Income Plus Children's Net Unearned Income) Figure the tax on the amount on line 8 using the Tax Table, the Tax Computation Worksheet, the Qualified Dividends and Capital Gain Tax Worksheet (in the Form 1040, 1040A, or 1040NR instructions), the Schedule D Tax Worksheet (in the Schedule D instructions), or Schedule J (Form 1040), as follows. Tax act 2011 free download If line 8 does not include any net capital gain or qualified dividends, use the Tax Table or Tax Computation Worksheet to figure this tax. Tax act 2011 free download But if Schedule J, Income Averaging for Farmers and Fishermen, is used to figure the tax on the parent's return, use it to figure this tax. Tax act 2011 free download If line 8 includes any net capital gain or qualified dividends, use the Qualified Dividends and Capital Gain Tax Worksheet to figure this tax. Tax act 2011 free download For details, see the instructions for Form 8615, line 9. Tax act 2011 free download However, if the child, parent, or any other child has 28% rate gain or unrecaptured section 1250 gain, use the Schedule D Tax Worksheet. Tax act 2011 free download But if Schedule J is used to figure the tax on the parent's return, use it to figure this tax. Tax act 2011 free download Child files Form 2555 or 2555-EZ. Tax act 2011 free download   If line 8 includes any net capital gain or qualified dividends and the child, or any other child filing Form 8615, also files Form 2555 or 2555-EZ, use Using the Schedule D Tax Worksheet for line 9 tax, next, to figure the line 9 tax. Tax act 2011 free download Using the Schedule D Tax Worksheet for line 9 tax. Tax act 2011 free download    Use the Schedule D Tax Worksheet (in the Schedule D instructions) to figure the line 9 tax on Form 8615 if the child, parent, or any other child has unrecaptured section 1250 gain or 28% rate gain. Tax act 2011 free download If you must use the Schedule D Tax Worksheet, first complete any Schedule D and any actual Schedule D Tax Worksheet required for the child, parent, or any other child. Tax act 2011 free download Then figure the line 9 tax using another Schedule D Tax Worksheet. Tax act 2011 free download (Do not attach this Schedule D Tax Worksheet to the child's return. Tax act 2011 free download )   Complete this Schedule D Tax Worksheet as follows. Tax act 2011 free download On line 1, enter the amount from Form 8615, line 8. Tax act 2011 free download On line 2, enter the qualified dividends included on Form 8615, line 8. Tax act 2011 free download (See the earlier discussion for line 8. Tax act 2011 free download ) On line 3, enter the total of the amounts, if any, on line 4g of all Forms 4952 filed by the child, parent, or any other child. Tax act 2011 free download On line 4, enter the total of the amounts, if any, on line 4e of all Forms 4952 filed by the child, parent, or any other child. Tax act 2011 free download If applicable, include instead the smaller amount entered on the dotted line next to line 4e. Tax act 2011 free download On lines 5 and 6, follow the worksheet instructions. Tax act 2011 free download On line 7, enter the net capital gain included on Form 8615, line 8. Tax act 2011 free download (See the earlier discussion for line 8. Tax act 2011 free download ) On lines 8 through 10, follow the worksheet instructions. Tax act 2011 free download On line 11, enter zero if neither the child, nor the parent, nor any other child has unrecaptured section 1250 gain (Schedule D, line 19) or 28% rate gain (Schedule D, line 18). Tax act 2011 free download Otherwise, enter the amount of unrecaptured section 1250 gain and 28% rate gain included in the net capital gain on line 8 of Form 8615. Tax act 2011 free download Figure these amounts as explained later under Figuring unrecaptured section 1250 gain (line 11) and Figuring 28% rate gain (line 11). Tax act 2011 free download If the Foreign Earned Income Tax Worksheet was used to figure the parent's tax or the tax of any child, go to step 10 below. Tax act 2011 free download Otherwise, skip steps 10, 11, and 12 below, and go to step 13. Tax act 2011 free download Determine whether there is a line 8 capital gain excess as follows. Tax act 2011 free download Add the amounts on line 2 of all Foreign Earned Income Tax Worksheets completed by the parent or any child for whom Form 8615 is filed. Tax act 2011 free download (But for each child do not add more than the excess, if any, of the amount on line 5 of the child's Form 8615 over the child's taxable income on Form 1040, line 43; Form 1040A, line 27; or Form 1040NR, line 41. Tax act 2011 free download ) Subtract (a) from the amount on line 1 of this Schedule D Tax Worksheet. Tax act 2011 free download Subtract (b) from the amount on line 10 of this Schedule D Tax Worksheet. Tax act 2011 free download If the result is more than zero, that amount is the line 8 capital gain excess. Tax act 2011 free download If the result is zero or less, there is no line 8 capital gain excess. Tax act 2011 free download If there is no line 8 capital gain excess, skip step 12 below and go to step 13. Tax act 2011 free download If there is a line 8 capital gain excess, complete a second Schedule D Tax Worksheet as instructed above and in step 13, but in its entirety and with the following additional modifications. Tax act 2011 free download (These modifications are to be made only for purposes of filling out this additional Schedule D Tax Worksheet. Tax act 2011 free download ) Reduce the amount you would otherwise enter on line 9 (but not below zero) by the line 8 capital gain excess. Tax act 2011 free download Reduce the amount you would otherwise enter on line 6 (but not below zero) by any of the line 8 capital gain excess not used in (a) above. Tax act 2011 free download If the child, parent, or any other child has 28% rate gain, reduce the amount you would otherwise enter on line 8 of Worksheet 1 for Line 11 of the Schedule D Tax Worksheet – 28% Rate Gain (Line 9 Tax), shown later, (but not below zero) by the line 8 capital gain excess, and refigure the amount on line 11 of this Schedule D Tax Worksheet. Tax act 2011 free download If the child, parent, or any other child has unrecaptured section 1250 gain, reduce the amount you would otherwise enter on line 8 of Worksheet 2 for Line 11 of the Schedule D Tax Worksheet – Unrecaptured Section 1250 Gain (Line 9 Tax) (but not below zero) by the line 8 capital gain excess not used in 12(c), and refigure the amount on line 11 of this Schedule D Tax Worksheet. Tax act 2011 free download Complete lines 12 through 45 following the worksheet instructions. Tax act 2011 free download Use the parent's filing status to complete lines 15, 42, and 44. Tax act 2011 free download Enter the amount from line 45 of this Schedule D Tax Worksheet on Form 8615, line 9, and check the box on that line