Form 8615 election for children to be taxed at parent's taxable rate does not appear to calculate properly. Where is the input to add other children unearned income?

Forum|Forum|6 years ago
July 4, 2020
1 reply
16 views

The IRS worksheet requires that other children unearned income be add to line 2, but I can't find the input field. The parent's rate is 24% but the tax is coming out to be approximately 45% and then in the summary it says 12%. Something is screwy.

ProConnect Tax Online

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Best answer by George4Tacks

There are some help articles https://proconnect.intuit.com/community/estimated-taxes/help/using-form-8814-or-form-8615-to-report-child-s-income/00/4816 has broken links that @IntuitBettyJo will put the content team on to clean up.

To answer your question - You are in the Parents income screen, look up and a bit to the right and you will see Child - Click that and you will given a screen to add as many tabs as you need to add other childrens info and income.

T

TaxGuyBill

Level 15

@rmlbiii wrote:
The parent's rate is 24% but the tax is coming out to be approximately 45% and then in the summary it says 12%. Something is screwy.

Is the actual INCOME TAX increasing by 45%? Or is that 'extra' income affecting other things on the tax return as well? Look at all of the numbers on the 1040 and Schedules both before and after to see what exactly changes.

The summary screens can be screwy and sometimes can be misleading. So ignore that and just look at what is on the forms.

R

rmlbiiiAuthor

Level 2

my client has 2 children both with only unearned income. There is no input screen to add the other child's unearned income in the worksheet, specifically line 2. I need to enter this because it will move the parent's tax bracket up.

George4TacksAnswer

Level 15

There are some help articles https://proconnect.intuit.com/community/estimated-taxes/help/using-form-8814-or-form-8615-to-report-child-s-income/00/4816 has broken links that @IntuitBettyJo will put the content team on to clean up.

To answer your question - You are in the Parents income screen, look up and a bit to the right and you will see Child - Click that and you will given a screen to add as many tabs as you need to add other childrens info and income.

Answers are easy. Questions are hard!

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