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- Re: Form 8615 - Kiddie Tax tax calculation
Form 8615 - Kiddie Tax tax calculation
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mattgutz
Level 4
a week ago
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I have input the correct information from the parent's return. The child only has $2,784 of investment income ($184 taxable after the $2600 deduction) However line 9 is generating an additional $3000 balance due. Can anybody walk me through what I am doing incorrect?
Your assistance is greatly appreciated!!
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3 Comments 3
George4Tacks
Level 15
a week ago
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Look at the 8615.
Answers are easy. Questions are hard!
mattgutz
Level 4
a week ago
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Thanks for your response. My problem relates specifically to the calculations on the 8615. The parents taxable income on line 6 is $311,000. The child has $184 of taxable investment income, making Line 8 $311,184. The tax calculated on line 9 is $60,000. However the parents tax on line 10 is $57,000. Meaning the child has a tax liability of $3,000. On the $184 of additional income? Something is wrong with Line 9 but I can not figure it out!
Thanks again
