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Federal Parents' Election To Report Child's Interest and Dividends
Extracted from PDF file 2023-federal-form-8814.pdf, last modified January 2024Parents' Election To Report Child's Interest and Dividends
Form 8814 Department of the Treasury Internal Revenue Service Parents’ Election To Report Child’s Interest and Dividends OMB No. 1545-0074 2023 Attach to parents’ Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/Form8814 for the latest information. Attachment Sequence No. 40 Your social security number Name(s) shown on your return Caution: The federal income tax on your child’s income, including qualified dividends and capital gain distributions, may be less if you file a separate tax return for the child instead of making this election. This is because you cannot take certain tax benefits that your child could take on his or her own return. For details, see Tax benefits you cannot take in the instructions. A Child’s name (first, initial, and last) C If more than one Form 8814 is attached, check here Part I B Child’s social security number . . . . . . . . . . . . . . . . . . . . . . . . Child’s Interest and Dividends To Report on Your Return 1a Enter your child’s taxable interest. If this amount is different from the amounts shown on the child’s Forms 1099-INT and 1099-OID, see the instructions . . . . . . . . . . . . . . . . . b Enter your child’s tax-exempt interest. Do not include this amount on line 1a 1b 2a Enter your child’s ordinary dividends, including any Alaska Permanent Fund dividends. If your child received any ordinary dividends as a nominee, see the instructions . . . . . . . . . . . . b Enter your child’s qualified dividends included on line 2a. See the instructions 2b 3 Enter your child’s capital gain distributions. If your child received any capital gain distributions as a nominee, see the instructions . . . . . . . . . . . . . . . . . . . . . . . . 4 5 6 7 8 9 10 11 12 1a 2a 3 Add lines 1a, 2a, and 3. If the total is $2,500 or less, skip lines 5 through 12 and go to line 13. If the total is $12,500 or more, do not file this form. Your child must file his or her own return to report the income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Base amount. Enter $2,500 . . . . . . . . . . . . . . . . . . . . . . . . . Subtract line 5 from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . If both lines 2b and 3 are zero or blank, skip lines 7 through 10, enter -0- on line 11, and go to line 12. Otherwise, go to line 7. Divide line 2b by line 4. Enter the result as a decimal (rounded to at least three . places) . . . . . . . . . . . . . . . . . . . . . . . . 7 Divide line 3 by line 4. Enter the result as a decimal (rounded to at least three . places) . . . . . . . . . . . . . . . . . . . . . . . . 8 Multiply line 6 by line 7. Enter the result here. See the instructions for where to report this amount on your return . . . . . . . . . . . . . . . 9 Multiply line 6 by line 8. Enter the result here. See the instructions for where to report this amount on your return . . . . . . . . . . . . . . . 10 Add lines 9 and 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Subtract line 11 from line 6. Include this amount in the total on Schedule 1 (Form 1040), line 8z. In the space next to that line, enter “Form 8814” and show the amount. If you checked the box on line C above, see the instructions. Go to line 13 below . . . . . . . . . . . . . . . . . . 12 Part II 4 5 6 Tax on the First $2,500 of Child’s Interest and Dividends 13 14 15 Amount not taxed. Enter $1,250 . . . . . . . . . . . . . . . . . . . . . . . Subtract line 13 from line 4. If the result is zero or less, enter -0- . . . . . . . . . . . . . Tax. Is the amount on line 14 less than $1,250? No. Enter $125 here and see the Note below. . . . . Yes. Multiply line 14 by 10% (0.10). Enter the result here and see the Note below. Note: If you checked the box on line C above, see the instructions. Otherwise, include the amount from line 15 Form 1040,1040-SR, or 1040-NR, line 16. Be sure to check box 1 on Form 1040, 1040-SR, or 1040-NR, line 16. For Paperwork Reduction Act Notice, see your tax return instructions. } Cat. No. 10750J 13 14 15 in the tax you enter on Form 8814 (2023)
2023 Form 8814
More about the Federal Form 8814 Corporate Income Tax TY 2023
We last updated the Parents' Election To Report Child's Interest and Dividends in January 2024, so this is the latest version of Form 8814, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 8814 directly from TaxFormFinder. You can print other Federal tax forms here.
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| Form Code | Form Name |
|---|---|
| Form 1040 | U.S. Individual Income Tax Return |
| 1040 (Schedule B) | Interest and Ordinary Dividends |
| Form W-3 | Transmittal of Wage and Tax Statements |
| Form 941 | Employer's Quarterly Federal Tax Return |
| Form 1120-H | U.S. Income Tax Return for Homeowners Associations |
View all 775 Federal Income Tax Forms
Form Sources:
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 8814 from the Internal Revenue Service in January 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal Form 8814
We have a total of thirteen past-year versions of Form 8814 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 Form 8814
2011 Form 8814
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