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What is Form 8615 used for?
What is Form 8615 used for?
- To figure the child's tax on unearned income over $2,300 (correct)
- To figure the child's tax on earned income over $2,300
- To figure the child's tax on unearned income under $2,300
- To figure the child's tax on all income over $2,300
What are the age requirements for a child to be eligible for Form 8615?
What are the age requirements for a child to be eligible for Form 8615?
- All of the above
- The child must be a full-time student at least age 19 and under age 24 at the end of the tax year and have earned income that was more than half of the child's support
- The child must be under age 18 at the end of the tax year (correct)
- The child must be age 18 at the end of the tax year and have earned income that was more than half of the child's support
What is the Net Investment Income Tax (NIIT)?
What is the Net Investment Income Tax (NIIT)?
- A tax on all investment income
- A tax on the lesser of net investment income or the excess of modified adjusted gross income (MAGI) over a threshold amount (correct)
- A tax on unearned income under $2,300
- A tax on earned income
What is Form 8615 used for?
What is Form 8615 used for?
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Under what circumstances should Form 8615 be attached to a child's tax return?
Under what circumstances should Form 8615 be attached to a child's tax return?
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What is the Net Investment Income Tax (NIIT)?
What is the Net Investment Income Tax (NIIT)?
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