Looking for a Form 8615 Templates? Download it for free!

2 0 08

Department of the Treasury

Internal Revenue Service

Instructions for Form 8615

Tax for Certain Children Who Have Investment Income of More Than $1,800

Support. Your child’s support includes

Amended U.S. Individual Income Tax

General Instructions

all amounts spent to provide the child with

Return.

food, lodging, clothing, education, medical

Instead of using estimates, the child

What’s New

and dental care, recreation,

can get an automatic 6-month extension

transportation, and similar necessities. To

of time to file. For details, see Form 4868,

Form 8615 required for certain older

figure your child’s support, count support

Application for Automatic Extension of

children. Form 8615, in addition to

provided by you, your child, and others.

Time To File U.S. Individual Income Tax

being used to figure the tax of certain

However, a scholarship received by your

Return.

children who are under age 18, now also

child is not considered support if your

must be used in certain cases to figure

child is a full-time student. See Pub. 501

Amended Return

the tax of a child who either:

for details.

•

Was age 18 at the end of 2008 and did

If after the child’s return is filed, the

Certain January 1 birthdays. Use the

not have earned income that was more

parent’s taxable income changes or the

chart below to determine whether certain

than half of the child’s support, or

net investment income of any of the

•

children with January 1 birthdays meet

Was a full-time student over age 18

parent’s other children changes, the

condition 3 under Who Must File.

and under age 24 at the end of 2008 and

child’s tax must be refigured using the

did not have earned income that was

adjusted amounts. If the child’s tax

IF a child was

THEN, at the end

more than half of the child’s support.

changes, file Form 1040X to correct the

born on . . . . . . . . of 2008, the child

child’s tax.

Purpose of Form

is considered to

be . . . . . . . . . . . .

Alternative Minimum Tax

For children under age 18 and certain

older children described below in Who

A child whose tax is figured on Form 8615

January 1, 1991

18*

Must File, investment income over $1,800

may owe the alternative minimum tax. For

is taxed at the parent’s rate if the parent’s

January 1, 1990

19**

details, see Form 6251, Alternative

rate is higher than the child’s. If the child’s

Minimum Tax — Individuals, and its

January 1, 1985

24***

investment income is more than $1,800,

instructions.

use Form 8615 to figure the child’s tax.

*This child is not under age 18. The child

meets condition 3 only if the child did not

Line Instructions

Investment Income

have earned income that was more than half

of the child’s support.

For Form 8615, “investment income”

Lines A and B

**This child meets condition 3 only if the

includes all taxable income other than

child was a full-time student who did not

If the child’s parents were married to each

earned income as defined on page 2.

have earned income that was more than half

other and filed a joint return, enter the

Investment income includes taxable

of the child’s support.

name and social security number (SSN)

interest, ordinary dividends, capital gains

***Do not use Form 8615 for this child.

of the parent who is listed first on the joint

(including capital gain distributions), rents,

return.

royalties, etc. It also includes taxable

social security benefits, pension and

The parent may be able to elect to

If the parents were married but filed

TIP

report the child’s interest, ordinary

annuity income, and income (other than

separate returns, enter the name and

earned income) received as the

dividends, and capital gain

SSN of the parent who had the higher

distributions on the parent’s return. If the

beneficiary of a trust.

taxable income. If you do not know which

parent makes this election, the child will

parent had the higher taxable income,

not have to file a return or Form 8615.

Who Must File

see Pub. 929.

However, the federal income tax on the

If the parents were unmarried, treated

Form 8615 must be filed for any child who

child’s income, including qualified

as unmarried for federal income tax

meets all of the following conditions.

dividends and capital gain distributions,

purposes, or separated by either a

1. The child had more than $1,800 of

may be higher if this election is made. For

divorce or separate maintenance decree,

investment income.

more details, see Form 8814, Parents’

enter the name and SSN of the parent

2. The child is required to file a tax

Election To Report Child’s Interest and

with whom the child lived for most of the

return.

Dividends.

year (the custodial parent).

3. The child either:

Additional Information

Exceptions. If the custodial parent

a. Was under age 18 at the end of

remarried and filed a joint return with his

2008,

For more details, see Pub. 929, Tax

or her new spouse, enter the name and

b. Was age 18 at the end of 2008 and

Rules for Children and Dependents.

SSN of the person listed first on the joint

did not have earned income that was

return, even if that person is not the

Incomplete Information for

more than half of the child’s support, or

child’s parent. If the custodial parent and

c. Was a full-time student over age 18

Parent or Other Children

his or her new spouse filed separate

and under age 24 at the end of 2008 and

returns, enter the name and SSN of the

did not have earned income that was

If the parent’s taxable income or filing

person with the higher taxable income,

more than half of the child’s support.

status or the net investment income of the

even if that person is not the child’s

(Earned income is defined on page 2.

parent’s other children is not known by

parent.

Support is defined on this page.)

the due date of the child’s return,

4. At least one of the child’s parents

reasonable estimates can be used. Enter

If the parents were unmarried but lived

was alive at the end of 2008.

“Estimated” next to the appropriate line(s)

together during the year with the child,

5. The child does not file a joint return

of Form 8615. When the correct

enter the name and SSN of the parent

for 2008.

information is available, file Form 1040X,

who had the higher taxable income.

Cat. No. 28914R

Instructions For Form 8615 - Tax For Certain Children Who Have Investment Income Of More Than 1,800 - Internal Revenue Service - 2008

Related Articles

Related forms

Related Categories