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@ptax255 wrote:

Assuming only interest, dividend and capital gains

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Capital gains?

Capital gains (usually on a 1099-B) don't qualify for 8814.  Capital Gain Distributions (1099-DIV) do qualify.

I don't have much experience with it, but as you pointed out I think it is supposed to work out the same for income tax.  However, the 'extra' income added to the parents' tax return could affect other things, such as reducing (or eliminating) some credits or deductions.