Form 8814 - Parents' Election To Report Child'S Interest And Dividends - 2014 Page 4
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Form 8814 (2014)
Page
If your child received, as a nominee, capital gain distributions that
If your child received, as a nominee, interest that actually belongs
actually belong to another person, enter the amount and “ND” on
to another person, enter the amount and “ND” (nominee
the dotted line next to line 3. Do not include amounts received as a
distribution) on the dotted line next to line 1a. Do not include
amounts received as a nominee in the total for line 1a.
nominee in the total for line 3.
Line 9. Include this amount on Form 1040, lines 9a and 9b, or Form
If your child had accrued interest that was paid to the seller of a
1040NR, lines 10a and 10b. Enter “Form 8814” and this amount
bond, amortizable bond premium (ABP) allowed as a reduction to
interest income, or if any original issue discount (OID) is less than
on the dotted line next to those lines unless you file Schedule B
the amount shown on your child’s Form 1099-OID, enter the
(Form 1040).
nontaxable amount on the dotted line next to line 1a and “Accrued
If you file Schedule B, include this amount on line 5, and identify it
interest,” “ABP adjustment,” or “OID adjustment,” whichever
as from “Form 8814.” Complete Schedule B as instructed. Also
applies. Do not include any nontaxable amounts in the total for line
include this amount on Form 1040, line 9b, or Form 1040NR, line
1a.
10b.
Line 1b. If your child received any tax-exempt interest income, such
You must file Schedule B if this amount plus the parents’
as from certain state and municipal bonds, report it on line 1b.
dividends is more than $1,500.
Tax-exempt interest, including any exempt-interest dividends your
Line 10. Include this amount on Schedule D (Form 1040), line 13;
child received as a shareholder in a mutual fund or other regulated
Form 1040, line 13; or Form 1040NR, line 14. Enter “Form 8814”
investment company, should be shown in box 8 of Form 1099-INT.
and this amount on the dotted line next to line 13 of Schedule D or
Note. If line 1b includes tax-exempt interest or exempt-interest
in the space to the left of line 13 of Form 1040 or line 14 of Form
dividends paid by a regulated investment company from private
1040NR.
activity bonds, see Alternative minimum tax, earlier.
If any of the child’s capital gain distributions were reported on
Line 2a. Enter the ordinary dividends your child received in 2014.
Form 1099-DIV as unrecaptured section 1250 gain, section 1202
Ordinary dividends should be shown in box 1a of Form 1099-DIV.
gain, or collectibles (28%) gain, see Pub. 929 for details on the
Also include ordinary dividends your child received through a
amount to report on Schedule D.
partnership, an S corporation, or an estate or trust.
Line 12. If you checked the box on line C, add the amounts from
If your child received, as a nominee, ordinary dividends that
line 12 of all your Forms 8814. Include the result on Form 1040, line
actually belong to another person, enter the amount and “ND” on
21, or Form 1040NR, line 21, whichever applies. Enter “Form 8814”
the dotted line next to line 2a. Do not include amounts received as a
and the total of the line 12 amounts on the dotted line next to
nominee in the total for line 2a.
line 21.
Line 2b. Enter all qualified dividends your child received in 2014.
Line 15. If you checked the box on line C, add the amounts from
Qualified dividends are the ordinary dividends that are eligible for
line 15 of all your Forms 8814. Include the total on Form 1040, line
the same lower tax rate as a net capital gain. Qualified dividends
44, or Form 1040NR, line 42. Be sure to check box a on that line.
should be shown in box 1b of Form 1099-DIV.
Line 3. Enter the capital gain distributions your child received in
2014. Capital gain distributions should be shown in box 2a of Form
1099-DIV.
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