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kiddie tax

ykbce
Level 3

On Form 8615 line 15 says enter tax on amount on line 14 based on child's filing status.  My line 14 amount is $1850 and the tax should be $186 but the program is calculating the tax as $468.  Is the program calculating this incorrectly? 

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4 Comments 4
qbteachmt
Level 15

Have you worked through the instruction worksheets?

https://www.irs.gov/pub/irs-pdf/i8615.pdf

 

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ykbce
Level 3

Child has no interest or dividends so worksheets didn't apply.

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ykbce
Level 3

Child has no interest or dividends so worksheets did not apply.

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qbteachmt
Level 15

"so worksheets did not apply."

The point is to use the IRS Form Instructions worksheet to compare to how the tax program is using the data you input. That's why the IRS provides them; they allow you to follow the data flow to confirm what is happening.

For instance, maybe there is the Parents' tax rate to consider.

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