Question

Dependent got 1099-misc

Forum|Forum|4 years ago
March 6, 2022
1 reply
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My son is under 18, he won some game prize, received 1099-misc with number in box 3, it's over 10k, when I doing his tax return, form 8615 pop up and ask for parent's taxable income , end by his tax rate is high than mine. is this correct?

J

JamesG1

IRS Form 8615 must be filed for any child who meets all of the following conditions.

The child had more than $2,200 of unearned income.
The child is required to file a tax return.
The child either:
1. Was under age 18 at the end of 2021,
2. Was age 18 at the end of 2021 and did not have earned income that was more than half of the child's support, or
3. Was a full-time student at least age 19 and under age 24 at the end of 2021 and did not have earned income that was more than half of the child's support.
At least one of the child's parents was alive at the end of 2021.
The child does not file a joint return for 2021.

For children under age 18, unearned income over $2,200 is taxed at the parent's rate if the parent's rate is higher than the child's. If the child's unearned income is more than $2,200, use Form 8615 to figure the child's tax.

IRS Form 8615 is described here.

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