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Myfreetaxes com baltimorecash 27. Myfreetaxes com baltimorecash   Beneficios Tributarios para Estudios Relacionados con el Trabajo Table of Contents Qué Hay de Nuevo Introduction Useful Items - You may want to see: Estudios Relacionados con el Trabajo que Reúnen los Requisitos de la DeducciónEstudios Requeridos por el Empleador o por Ley Estudios para Mantener o Mejorar Destrezas Estudios para Satisfacer los Requisitos Mínimos Estudios que lo Capacitan para un Nuevo Oficio o Negocio Qué Gastos se Pueden Deducir Reembolso no reclamado. Myfreetaxes com baltimorecash Gastos de Transporte Gastos de Viaje No se Permiten Beneficios Dobles Reembolsos Cómo Deducir Gastos de NegociosPersonas que Trabajan por Cuenta Propia Empleados Artistas del Espectáculo y Funcionarios a los que se les Pagan Honorarios Gastos de Trabajo Relacionados con un Impedimento Documentación Qué Hay de Nuevo Tarifa estándar por milla. Myfreetaxes com baltimorecash  Por lo general, si reclama una deducción de negocios por estudios relacionados con el trabajo y maneja su automóvil a la escuela y de vuelta a casa, la cantidad que puede deducir por las millas recorridas desde el 1 de enero de 2013 al 31 de diciembre de 2013 es 56½ centavos por milla. Myfreetaxes com baltimorecash Vea Gastos de Transporte bajo Qué Gastos se Pueden Deducir, para más información. Myfreetaxes com baltimorecash Introduction Este capítulo explica los gastos de estudios relacionados con el trabajo que tal vez pueda deducir como gastos de negocios. Myfreetaxes com baltimorecash Para reclamar tal deducción, tiene que: Detallar las deducciones en el Anexo A (Formulario 1040) si es empleado; Presentar el Anexo C (Formulario 1040), Anexo C-EZ (Formulario 1040) o el Anexo F (Formulario 1040) si trabaja por cuenta propia y Tener gastos de estudios calificados explicados bajo Estudios Relacionados con el Trabajo que Reúnen los Requisitos de la Deducción . Myfreetaxes com baltimorecash Si es empleado y puede detallar las deducciones, tal vez pueda reclamar una deducción por los gastos pagados por estudios que se relacionen con el trabajo. Myfreetaxes com baltimorecash Su deducción será la cantidad total de sus gastos de estudios relacionados con el trabajo que reúnen los requisitos más otros gastos relacionados con el trabajo y ciertos gastos misceláneos (con la excepción de los gastos del trabajo relacionados con el impedimento de personas discapacitadas) que sea mayor que el 2% de sus ingresos brutos ajustados (AGI, por sus siglas en inglés). Myfreetaxes com baltimorecash Vea el capítulo 28. Myfreetaxes com baltimorecash Si trabaja por cuenta propia, deduciría los gastos de estudios relacionados con el trabajo que reúnen los requisitos directamente de sus ingresos del trabajo por cuenta propia. Myfreetaxes com baltimorecash Los gastos de estudios relacionados con el trabajo también podrían darle derecho a otros beneficios tributarios, tales como el crédito tributario de oportunidad para los estadounidenses y el crédito vitalicio por aprendizaje (vea el capítulo 35). Myfreetaxes com baltimorecash Es posible que tenga derecho a estos beneficios incluso si no cumple los requisitos indicados anteriormente. Myfreetaxes com baltimorecash Asimismo, debe tomar en consideración que es posible que sus gastos de estudios relacionados con el trabajo le podrían dar derecho a reclamar más de un beneficio tributario. Myfreetaxes com baltimorecash Por lo general, puede reclamar cualquier cantidad de beneficios siempre que utilice diferentes gastos para calcular cada uno de ellos. Myfreetaxes com baltimorecash Cuando calcule sus impuestos, tal vez desee comparar estos beneficios tributarios para elegir el (los) método(s) mediante el (los) cual(es) obtenga el menor impuesto por pagar. Myfreetaxes com baltimorecash Useful Items - You may want to see: Publicación 463 Travel, Entertainment, Gift, and Car Expenses (Gastos de viaje, entretenimiento, regalos y automóvil), en inglés 970 Tax Benefits for Education (Beneficios tributarios por estudios), en inglés Formulario (e Instrucciones) 2106 Employee Business Expenses (Gastos de negocios del empleado), en inglés 2106-EZ Unreimbursed Employee Business Expenses (Gastos de negocios del empleado no reembolsados), en inglés Anexo A (Formulario 1040) Itemized Deductions (Deducciones detalladas), en inglés Estudios Relacionados con el Trabajo que Reúnen los Requisitos de la Deducción Puede deducir como gastos de negocio los costos de estudios relacionados con el trabajo si éstos reúnen los requisitos de la deducción. Myfreetaxes com baltimorecash Éstos son estudios que cumplen al menos uno de los dos siguientes requisitos: Su empleador o la ley requiere dichos estudios para mantener su sueldo, situación o trabajo actual. Myfreetaxes com baltimorecash Los estudios requeridos tienen que servir para un propósito comercial legítimo (bona fide) de su empleador. Myfreetaxes com baltimorecash Los estudios mantienen o mejoran las destrezas necesarias en su trabajo actual. Myfreetaxes com baltimorecash No obstante, aun si sus estudios cumplen uno o ambos de los requisitos anteriores, no se considera que dichos estudios estén relacionados con el trabajo ni que reúnen los requisitos de la deducción si: Se requieren para satisfacer los requisitos mínimos de educación de su oficio o negocio actual o Forman parte de un programa de estudios que lo capacitará para un nuevo oficio o negocio. Myfreetaxes com baltimorecash Puede deducir los costos de los estudios relacionados con el trabajo que reúnen los requisitos de la deducción como gasto de negocios incluso si, al completar dichos estudios, tiene la posibilidad de obtener un título universitario. Myfreetaxes com baltimorecash Utilice la Figura 27-A, más adelante, para verificar rápidamente si sus estudios reúnen los requisitos. Myfreetaxes com baltimorecash Estudios Requeridos por el Empleador o por Ley Una vez que haya cumplido los requisitos mínimos de educación para su trabajo, es posible que su empleador o la ley le exija seguir sus estudios. Myfreetaxes com baltimorecash Se considera que dichos estudios adicionales son estudios relacionados con el trabajo que reúnen los requisitos si se cumplen los tres siguientes requisitos: Se requieren para que mantenga su sueldo, situación o trabajo actual; El requisito sirve un propósito legítimo (bona fide) comercial de su empleador y Los estudios no forman parte de un programa que lo capacitará para un nuevo oficio o negocio. Myfreetaxes com baltimorecash Si completa más estudios de los requeridos por su empleador o la ley, estos estudios adicionales sólo pueden ser estudios relacionados con el trabajo que reúnen los requisitos de la deducción si mantienen o mejoran las destrezas requeridas en su trabajo actual. Myfreetaxes com baltimorecash Vea Estudios para Mantener o Mejorar Destrezas , más adelante. Myfreetaxes com baltimorecash Ejemplo. Myfreetaxes com baltimorecash Usted es un maestro que ha cumplido los requisitos mínimos para enseñar. Myfreetaxes com baltimorecash Su empleador le exige que tome un curso universitario adicional cada año para poder seguir con su puesto actual de maestro. Myfreetaxes com baltimorecash Si los cursos no lo capacitarán para un nuevo oficio o negocio, entonces serán estudios relacionados con el trabajo que reúnen los requisitos, incluso si en el futuro recibe una maestría y un aumento de sueldo debido a estos estudios adicionales. Myfreetaxes com baltimorecash Estudios para Mantener o Mejorar Destrezas Si su empleador o la ley no requiere estudios, éstos pueden ser estudios relacionados con el trabajo que reúnen los requisitos de la deducción sólo si mantienen o mejoran las destrezas necesarias en su trabajo actual. Myfreetaxes com baltimorecash Éstos pueden incluir cursos de actualización, cursos sobre avances profesionales y cursos académicos o vocacionales. Myfreetaxes com baltimorecash Ejemplo. Myfreetaxes com baltimorecash Usted repara televisores, radios y sistemas estereofónicos para la tienda XYZ. Myfreetaxes com baltimorecash Para mantenerse al corriente de los últimos avances en su profesión, toma cursos especiales de servicios de radio y sistemas estereofónicos. Myfreetaxes com baltimorecash Estos cursos mantienen y mejoran las destrezas requeridas en su trabajo. Myfreetaxes com baltimorecash Mantenimiento de destrezas versus capacitación para un empleo nuevo. Myfreetaxes com baltimorecash   Los estudios para mantener o mejorar destrezas que se requieren en su trabajo actual no son estudios que reúnen los requisitos de la deducción si también lo capacitarán para un nuevo oficio o negocio. Myfreetaxes com baltimorecash Estudios durante ausencia temporal. Myfreetaxes com baltimorecash   Si deja de trabajar durante un año o menos para cursar estudios con el fin de mantener o mejorar las destrezas necesarias en su trabajo actual y luego regresa a su trabajo y desempeña las mismas labores generales, su ausencia se considera temporal. Myfreetaxes com baltimorecash Los estudios cursados durante una ausencia temporal son estudios relacionados con el trabajo que cumplen los requisitos de la deducción si mantienen o mejoran las destrezas necesarias en su trabajo actual. Myfreetaxes com baltimorecash Ejemplo. Myfreetaxes com baltimorecash Deja su trabajo de investigación en biología para convertirse en estudiante de posgrado de biología a tiempo completo durante un año. Myfreetaxes com baltimorecash Si regresa a trabajar en investigación en biología después de concluir los cursos, los estudios se relacionan con su trabajo actual incluso si no regresa a trabajar para el mismo empleador. Myfreetaxes com baltimorecash Estudios durante ausencia indefinida. Myfreetaxes com baltimorecash   Si deja de trabajar durante más de un año, su ausencia del trabajo se considera indefinida. Myfreetaxes com baltimorecash Se considera que los estudios cursados durante una ausencia indefinida, aun si mantienen o mejoran las destrezas necesarias en el trabajo del cual se ausenta, lo capacitan para un nuevo oficio o negocio. Myfreetaxes com baltimorecash Por lo tanto, no son estudios relacionados con el trabajo que reúnan los requisitos de la deducción. Myfreetaxes com baltimorecash Estudios para Satisfacer los Requisitos Mínimos Los estudios necesarios para cumplir los requisitos mínimos de educación para su oficio o negocio actual no son estudios relacionados con el trabajo que reúnan los requisitos de la deducción. Myfreetaxes com baltimorecash Los requisitos mínimos de educación se determinan a través de: Leyes y reglamentos; Normas de su profesión, oficio o negocio y Su empleador. Myfreetaxes com baltimorecash Una vez que haya cumplido los requisitos mínimos de educación vigentes cuando se le contrató, no tiene que cumplir nuevos requisitos mínimos de educación. Myfreetaxes com baltimorecash Esto significa que si los requisitos mínimos cambian después de que haya sido contratado, los estudios necesarios para satisfacer los nuevos requisitos pueden ser estudios que reúnen los requisitos de la deducción. Myfreetaxes com baltimorecash No ha cumplido los requisitos mínimos de educación de su oficio o negocio sólo porque ya está realizando el trabajo. Myfreetaxes com baltimorecash Ejemplo 1. Myfreetaxes com baltimorecash Es estudiante de ingeniería a tiempo completo. Myfreetaxes com baltimorecash Aunque no ha recibido su título o certificación, trabaja a tiempo parcial como ingeniero en una empresa que lo contratará como ingeniero a tiempo completo después de que finalice sus estudios universitarios. Myfreetaxes com baltimorecash Aunque sus cursos universitarios de ingeniería mejoran sus destrezas en su trabajo actual, también se requieren para cumplir los requisitos laborales mínimos para contratar a un ingeniero a tiempo completo. Myfreetaxes com baltimorecash Estos estudios no son estudios relacionados con el trabajo que reúnen los requisitos de la deducción. Myfreetaxes com baltimorecash Ejemplo 2. Myfreetaxes com baltimorecash Es contador y ha cumplido con los requisitos mínimos de educación de su empleador. Myfreetaxes com baltimorecash Posteriormente, éste cambia los requisitos mínimos de educación y requiere que tome cursos universitarios para mantener su trabajo. Myfreetaxes com baltimorecash Estos cursos adicionales pueden ser estudios relacionados con el trabajo que reúnen los requisitos de la deducción porque ya ha cumplido los requisitos mínimos vigentes al momento de su contratación. Myfreetaxes com baltimorecash Requisitos para los Docentes Por lo general, los estados o distritos escolares establecen los requisitos mínimos de educación para los docentes. Myfreetaxes com baltimorecash El requisito es el título universitario o la cantidad mínima de horas de estudio universitario que suele exigirse para la contratación de una persona para dicho cargo. Myfreetaxes com baltimorecash Si no existen requisitos, habrá cumplido los requisitos mínimos de educación cuando pase a ser miembro del cuerpo docente. Myfreetaxes com baltimorecash La determinación de si usted es miembro del cuerpo docente de una institución educativa tiene que ser hecha en base de las prácticas particulares de dicha institución. Myfreetaxes com baltimorecash Por lo general, se le considerará miembro del cuerpo docente si se da una o más de las siguientes condiciones: Es profesor titular o catedrático. Myfreetaxes com baltimorecash Sus años de servicio se acreditan para obtener el cargo académico o cátedra. Myfreetaxes com baltimorecash Tiene un voto en las decisiones del cuerpo docente. Myfreetaxes com baltimorecash Su institución académica hace aportaciones en nombre suyo a un plan de jubilación que no sea el Seguro Social o un programa similar. Myfreetaxes com baltimorecash Ejemplo 1. Myfreetaxes com baltimorecash La ley en el estado donde vive exige que los maestros novatos de escuela secundaria tengan un título universitario, incluidos 10 cursos de educación profesional. Myfreetaxes com baltimorecash Asimismo, para mantener su trabajo, un maestro tiene que realizar un quinto año de capacitación dentro de un plazo de 10 años a partir de la fecha de contratación. Myfreetaxes com baltimorecash Si la escuela empleadora certifica ante el Departamento de Educación estatal que no puede encontrar maestros calificados, la escuela puede contratar a personas con sólo 3 años de estudios universitarios. Myfreetaxes com baltimorecash No obstante, para mantener su trabajo, estos maestros tienen que obtener un título universitario y completar los cursos de educación profesional requeridos dentro de un plazo de 3 años. Myfreetaxes com baltimorecash De acuerdo con lo anterior, el título universitario, incluya o no los 10 cursos de educación profesional, se considera el requisito mínimo de educación para calificar como maestro en el estado donde vive. Myfreetaxes com baltimorecash Si posee toda la educación requerida, a excepción del quinto año, ha cumplido los requisitos mínimos de educación. Myfreetaxes com baltimorecash El quinto año de capacitación se considera estudios relacionados con el trabajo que reúnen los requisitos de la deducción a menos que forme parte de un programa de estudios que lo capacitará para un nuevo oficio o negocio. Myfreetaxes com baltimorecash Figura 27–A. Myfreetaxes com baltimorecash ¿Reúnen los Requisitos sus Estudios Relacionados con el Trabajo? Please click here for the text description of the image. Myfreetaxes com baltimorecash Figura 27−A. Myfreetaxes com baltimorecash ¿Reúnen los requisitos sus estudios relacionados con el trabajo? Ejemplo 2. Myfreetaxes com baltimorecash Suponga que se dan los mismos hechos que en el Ejemplo 1, excepto que tiene título universitario y sólo seis cursos de educación profesional. Myfreetaxes com baltimorecash Los cuatro cursos adicionales pueden ser estudios relacionados con el trabajo que reúnen los requisitos de la deducción. Myfreetaxes com baltimorecash Aunque no tiene todos los cursos requeridos, ya ha cumplido los requisitos mínimos de educación. Myfreetaxes com baltimorecash Ejemplo 3. Myfreetaxes com baltimorecash Suponga que se dan los mismos hechos que en el Ejemplo 1, excepto que lo han contratado con sólo 3 años de estudios universitarios. Myfreetaxes com baltimorecash Los cursos que tome para lograr un título (incluso en el campo de enseñanza) no son estudios relacionados con el trabajo que reúnen los requisitos de la deducción. Myfreetaxes com baltimorecash Éstos se requieren para cumplir los requisitos mínimos de educación para trabajar como maestro. Myfreetaxes com baltimorecash Ejemplo 4. Myfreetaxes com baltimorecash Tiene un título universitario y trabaja como instructor temporal en una universidad. Myfreetaxes com baltimorecash Al mismo tiempo, toma cursos de posgrado para obtener un título superior. Myfreetaxes com baltimorecash Las reglas de la universidad estipulan que puede pasar a ser miembro del cuerpo docente sólo si obtiene un posgrado. Myfreetaxes com baltimorecash Además, puede mantener su trabajo como instructor sólo si demuestra un avance satisfactorio para obtener este título. Myfreetaxes com baltimorecash No ha cumplido los requisitos mínimos de educación para ser miembro del cuerpo docente. Myfreetaxes com baltimorecash Los cursos de posgrado no son estudios relacionados con el trabajo que reúnen los requisitos de la deducción. Myfreetaxes com baltimorecash Licencia en un nuevo estado. Myfreetaxes com baltimorecash   Una vez que haya cumplido los requisitos mínimos de educación para maestros de su estado, se considera que ha cumplido los requisitos mínimos de educación en todos los estados. Myfreetaxes com baltimorecash Esto se aplica incluso si tiene que cursar estudios adicionales para recibir la licencia en otro estado. Myfreetaxes com baltimorecash Los estudios adicionales que necesite son estudios relacionados con el trabajo que reúnen los requisitos para la deducción. Myfreetaxes com baltimorecash Ya ha cumplido los requisitos mínimos de educación para enseñar. Myfreetaxes com baltimorecash Enseñar en otro estado no constituye un nuevo oficio o negocio. Myfreetaxes com baltimorecash Ejemplo. Myfreetaxes com baltimorecash Posee una licencia permanente para enseñar en el Estado A y ha trabajado como maestro en ese estado durante varios años. Myfreetaxes com baltimorecash Se muda al Estado B y lo contratan inmediatamente como maestro. Myfreetaxes com baltimorecash Sin embargo, tiene que realizar ciertos cursos prescritos para obtener una licencia permanente para enseñar en el Estado B. Myfreetaxes com baltimorecash Estos cursos adicionales son estudios relacionados con el trabajo que reúnen los requisitos de la deducción debido a que el puesto de maestro en el Estado B implica el mismo tipo de trabajo general para el cual reunía los requisitos en el Estado A. Myfreetaxes com baltimorecash Estudios que lo Capacitan para un Nuevo Oficio o Negocio Los estudios que forman parte de un programa de estudios a fin de capacitarlo para un nuevo oficio o negocio no están relacionados con el trabajo y no reúnen los requisitos de la deducción. Myfreetaxes com baltimorecash Esto es aplicable incluso si no tiene intención de ingresar en ese oficio o negocio. Myfreetaxes com baltimorecash Si es empleado, un cambio de deberes que implique el mismo tipo de trabajo general no es un nuevo oficio o negocio. Myfreetaxes com baltimorecash Ejemplo 1. Myfreetaxes com baltimorecash Es contador. Myfreetaxes com baltimorecash Su empleador le exige que saque un título en derecho corriendo con sus propios gastos. Myfreetaxes com baltimorecash Se inscribe en una escuela de derecho con la intención de cursar el plan de estudios típico para lograr un título en derecho. Myfreetaxes com baltimorecash Aun si su intención no es ser abogado, los estudios no reúnen los requisitos de la deducción debido a que el título en derecho lo capacitará para un nuevo oficio o negocio. Myfreetaxes com baltimorecash Ejemplo 2. Myfreetaxes com baltimorecash Es médico de medicina general. Myfreetaxes com baltimorecash Toma un curso de dos semanas para revisar los avances en diversos campos especializados de la medicina. Myfreetaxes com baltimorecash El curso no lo capacita para una nueva profesión. Myfreetaxes com baltimorecash Se considera que está relacionado con el trabajo y reúne los requisitos de la deducción porque mantiene o mejora las destrezas requeridas en su profesión actual. Myfreetaxes com baltimorecash Ejemplo 3. Myfreetaxes com baltimorecash Durante su trabajo en la práctica privada de psiquiatría, ingresa a un programa para estudiar y capacitarse en un instituto de psicoanálisis acreditado. Myfreetaxes com baltimorecash El programa lo capacitará para practicar el psicoanálisis. Myfreetaxes com baltimorecash La formación en psicoanálisis no lo capacitará para una nueva profesión. Myfreetaxes com baltimorecash Está relacionada con el trabajo y reúne los requisitos de la deducción porque mantiene o mejora las destrezas necesarias en su profesión actual. Myfreetaxes com baltimorecash Curso de preparación para el examen de reválida de derecho o para el examen para contadores públicos autorizados Los cursos de preparación para el examen de reválida para ejercer la abogacía o el examen para contadores públicos autorizados (CPA, por sus siglas en inglés) no son estudios relacionados con el trabajo que cumplan los requisitos. Myfreetaxes com baltimorecash Forman parte de un programa de estudios que puede capacitarlo para una nueva profesión. Myfreetaxes com baltimorecash Deberes Magisteriales y Afines Todos los deberes magisteriales y deberes afines se consideran relativamente el mismo tipo de trabajo. Myfreetaxes com baltimorecash Un cambio de deberes de cualquiera de las siguientes maneras no se considera un cambio a una nueva ocupación: Maestro de escuela primaria a maestro de escuela secundaria. Myfreetaxes com baltimorecash Maestro de una asignatura, como biología, a maestro de otra asignatura, como arte. Myfreetaxes com baltimorecash Maestro a consejero académico. Myfreetaxes com baltimorecash Maestro a administrador escolar. Myfreetaxes com baltimorecash Qué Gastos se Pueden Deducir Si sus estudios satisfacen los requisitos descritos anteriormente en Estudios Relacionados con el Trabajo que Reúnen los Requisitos de la Deducción , por lo general, puede deducir sus gastos de estudios como gastos de negocios. Myfreetaxes com baltimorecash Si no trabaja por cuenta propia, puede deducir gastos de negocios sólo si detalla sus deducciones. Myfreetaxes com baltimorecash No puede deducir gastos relacionados con ingresos exentos ni excluidos de impuestos. Myfreetaxes com baltimorecash Gastos deducibles. Myfreetaxes com baltimorecash   Se pueden deducir los siguientes gastos de estudios: Matrícula, libros, útiles escolares, cuotas de laboratorio y artículos similares. Myfreetaxes com baltimorecash Ciertos costos de transporte y viajes. Myfreetaxes com baltimorecash Otros gastos de estudios, como costos de investigación y de procesamiento de palabras (mecanografía) al escribir un ensayo o tésis como parte de un programa de estudios. Myfreetaxes com baltimorecash Gastos no deducibles. Myfreetaxes com baltimorecash   No puede deducir sus gastos personales o de capital. Myfreetaxes com baltimorecash Por ejemplo, no puede deducir el valor en dólares de un período de vacaciones o permiso anual (vacaciones remuneradas) que toma para asistir a clases. Myfreetaxes com baltimorecash Esta cantidad es un gasto personal. Myfreetaxes com baltimorecash Reembolso no reclamado. Myfreetaxes com baltimorecash   Aun si no reclama reembolsos a los que tiene derecho a recibir de su empleador, no puede deducir los gastos correspondientes a ese reembolso no reclamado. Myfreetaxes com baltimorecash Ejemplo. Myfreetaxes com baltimorecash Su empleador acuerda pagar sus gastos de estudios si usted presenta un vale que muestre sus gastos. Myfreetaxes com baltimorecash Usted no presenta un vale y no se los reembolsan. Myfreetaxes com baltimorecash Como no presentó un vale, no puede deducir los gastos en su declaración de impuestos. Myfreetaxes com baltimorecash Gastos de Transporte Si sus estudios reúnen los requisitos, puede deducir los costos de transporte locales en los que tiene que incurrir para viajar directamente del trabajo a la escuela. Myfreetaxes com baltimorecash Si tiene un trabajo habitual y asiste a la escuela de forma temporal, también puede deducir los costos de regreso de la escuela a su domicilio. Myfreetaxes com baltimorecash Asistencia temporal. Myfreetaxes com baltimorecash   Asiste a la escuela de manera temporal si alguna de las siguientes situaciones corresponde a su caso: Se espera de manera realista que su asistencia a la escuela dure 1 año o menos y en realidad dura 1 año o menos. Myfreetaxes com baltimorecash Al principio, se espera de manera realista que su asistencia a la escuela dure 1 año o menos, pero posteriormente es factible que dure más de 1 año. Myfreetaxes com baltimorecash Su asistencia es temporal hasta la fecha en la que determine que durará más de 1 año. Myfreetaxes com baltimorecash Nota: Si se encuentra en la situación (1) o (2), su asistencia no es temporal si los hechos y las circunstancias indican lo contrario. Myfreetaxes com baltimorecash Asistencia no temporal. Myfreetaxes com baltimorecash   No asiste a la escuela de manera temporal si alguna de las siguientes situaciones le corresponde: Se espera de manera realista que su asistencia a la escuela dure más de 1 año. Myfreetaxes com baltimorecash No importa cuánto tiempo de hecho asista. Myfreetaxes com baltimorecash Al principio, se espera de manera realista que su asistencia a la escuela dure 1 año o menos, pero posteriormente se espera que dure más de 1 año. Myfreetaxes com baltimorecash Su asistencia no es temporal después de la fecha en la que se determine que durará más de 1 año. Myfreetaxes com baltimorecash Gastos de Transporte Deducibles Si trabaja de manera habitual y se dirige directamente de su domicilio a la escuela de manera temporal, puede deducir los costos del viaje de ida y regreso entre su domicilio y la escuela. Myfreetaxes com baltimorecash Esto es aplicable sin importar la ubicación de dicho lugar, la distancia recorrida o si asiste a cursos en dicho lugar en días no laborables. Myfreetaxes com baltimorecash Los gastos de transporte incluyen los costos reales de autobús, metro, taxi u otras tarifas, así como los costos del uso de su automóvil. Myfreetaxes com baltimorecash Los gastos de transporte no incluyen cantidades gastadas por viaje, comidas o alojamiento cuando pasa la noche fuera de su casa. Myfreetaxes com baltimorecash Ejemplo 1. Myfreetaxes com baltimorecash Trabaja habitualmente en una ciudad cercana y viaja directamente del trabajo a su domicilio. Myfreetaxes com baltimorecash Asimismo, asiste a la escuela cada noche entre semana durante 3 meses para tomar un curso que mejore sus destrezas laborales. Myfreetaxes com baltimorecash Dado que asiste a una escuela de forma temporal, puede deducir sus gastos diarios de transporte de ida y regreso entre su domicilio y la escuela. Myfreetaxes com baltimorecash Esto es aplicable independientemente de la distancia recorrida. Myfreetaxes com baltimorecash Ejemplo 2. Myfreetaxes com baltimorecash Suponga que se dan los mismos hechos que en el Ejemplo 1, salvo que algunas noches se dirige directamente del trabajo a la escuela y luego a su domicilio. Myfreetaxes com baltimorecash Puede deducir sus gastos de transporte desde su lugar de trabajo habitual a la escuela y luego al domicilio. Myfreetaxes com baltimorecash Ejemplo 3. Myfreetaxes com baltimorecash Suponga que se dan los mismos hechos que en el Ejemplo 1, excepto que asiste a la escuela durante 9 meses todos los sábados, los cuales no son días laborables. Myfreetaxes com baltimorecash Dado que asiste a la escuela de manera temporal, puede deducir sus gastos de transporte de ida y regreso entre su casa y la escuela. Myfreetaxes com baltimorecash Ejemplo 4. Myfreetaxes com baltimorecash Suponga que se dan los mismos hechos que en el Ejemplo 1, excepto que asiste a clases dos veces a la semana durante 15 meses. Myfreetaxes com baltimorecash Dado que su asistencia a la escuela no se considera temporal, no puede deducir sus gastos de transporte entre su casa y la escuela. Myfreetaxes com baltimorecash Si se dirige a la escuela directamente desde el trabajo, puede deducir los gastos de transporte de ida desde el trabajo a la escuela. Myfreetaxes com baltimorecash Si del trabajo se dirige a su casa y luego a la escuela y regresa a su casa, sus gastos de transporte no pueden ser mayores que los gastos en los que hubiese incurrido de haber viajado directamente del trabajo a la escuela. Myfreetaxes com baltimorecash Uso de su automóvil. Myfreetaxes com baltimorecash   Si usa su automóvil (propio o arrendado) para viajar a la escuela, puede deducir sus gastos reales o utilizar la tarifa estándar de millaje para calcular la cantidad que puede deducir. Myfreetaxes com baltimorecash La tarifa estándar por millas recorridas desde el 1 de enero de 2013 hasta el 31 de diciembre de 2013 es 56½ centavos por milla. Myfreetaxes com baltimorecash Independientemente de los métodos que escoja, también puede deducir cargos de estacionamiento y peajes. Myfreetaxes com baltimorecash Vea el capítulo 26 para obtener información acerca de la deducción de sus gastos reales por el uso de un automóvil. Myfreetaxes com baltimorecash Gastos de Viaje Puede deducir gastos de viajes, comidas (vea Límite del 50% del costo de comidas , más adelante) y alojamiento si viaja de un día a otro principalmente para realizar estudios con derecho a deducción relacionados con el trabajo. Myfreetaxes com baltimorecash Los gastos de viaje para estudios relacionados con el trabajo que reúnen los requisitos de la deducción reciben el mismo trato tributario que los gastos de viaje para otros propósitos de negocios del empleado. Myfreetaxes com baltimorecash Para más información, vea el capítulo 26. Myfreetaxes com baltimorecash No puede deducir gastos de actividades personales, como turismo, visitas o entretenimiento. Myfreetaxes com baltimorecash Viajes principalmente con fines personales. Myfreetaxes com baltimorecash   Si su viaje fuera de casa es principalmente con fines personales, no puede deducir todos sus gastos de viaje, comidas o alojamiento. Myfreetaxes com baltimorecash Sólo puede deducir sus gastos de alojamiento y el 50% de sus gastos de comidas durante el período en el que asista a actividades de educación que reúnen los requisitos. Myfreetaxes com baltimorecash   El determinar si el propósito del viaje es principalmente personal o para estudios depende de los hechos y las circunstancias. Myfreetaxes com baltimorecash Un factor importante es la comparación del tiempo dedicado a actividades personales con el tiempo dedicado a actividades de educación. Myfreetaxes com baltimorecash Si dedica más tiempo a actividades personales, el viaje se considera principalmente para estudios sólo si puede demostrar una razón importante y no personal de por qué viajó a un lugar específico. Myfreetaxes com baltimorecash Ejemplo 1. Myfreetaxes com baltimorecash Juan trabaja en Newark, Nueva Jersey. Myfreetaxes com baltimorecash Viajó a Chicago para tomar un curso de una semana, a solicitud de su empleador, que puede deducir de sus impuestos. Myfreetaxes com baltimorecash Su razón principal para viajar a Chicago fue el curso. Myfreetaxes com baltimorecash Durante su estadía, realizó un viaje de turismo, salió a divertirse con algunos amigos y realizó un viaje adicional por el día a Pleasantville. Myfreetaxes com baltimorecash Dado que el viaje era principalmente de negocios, Juan puede deducir su boleto aéreo de ida y vuelta a Chicago. Myfreetaxes com baltimorecash No puede deducir los gastos de transporte de su viaje a Pleasantville. Myfreetaxes com baltimorecash Sólo puede deducir las comidas (conforme al límite del 50%) y alojamiento relacionados con sus actividades educativas. Myfreetaxes com baltimorecash Ejemplo 2. Myfreetaxes com baltimorecash Susana trabaja en Boston. Myfreetaxes com baltimorecash Asistió a una universidad en Michigan a fin de tomar un curso para su trabajo. Myfreetaxes com baltimorecash El curso está relacionado con el trabajo y reúne los requisitos de la deducción. Myfreetaxes com baltimorecash Tomó un curso, que corresponde a un cuarto de la carga de estudios a tiempo completo. Myfreetaxes com baltimorecash El resto del tiempo lo dedicó a actividades personales. Myfreetaxes com baltimorecash Sus razones para tomar el curso en Michigan fueron personales. Myfreetaxes com baltimorecash El viaje de Susana es principalmente personal, ya que tres cuartos de su tiempo se consideran tiempo personal. Myfreetaxes com baltimorecash No puede deducir el costo de su boleto de tren de ida y regreso a Michigan. Myfreetaxes com baltimorecash Puede deducir un cuarto del costo de las comidas (conforme al límite del 50%) y del alojamiento del período en que asistió a la universidad. Myfreetaxes com baltimorecash Ejemplo 3. Myfreetaxes com baltimorecash David trabaja en Nashville y recientemente viajó a California para asistir a un seminario de 2 semanas. Myfreetaxes com baltimorecash El seminario está relacionado con el trabajo y reúne los requisitos de la deducción. Myfreetaxes com baltimorecash Durante su estadía, dedicó 8 semanas adicionales a actividades personales. Myfreetaxes com baltimorecash Los hechos, incluida la estadía adicional de 8 semanas, demuestran que su finalidad principal era tomarse unas vacaciones. Myfreetaxes com baltimorecash David no puede deducir su boleto de avión de ida y vuelta ni sus comidas y alojamiento durante las 8 semanas. Myfreetaxes com baltimorecash Sólo puede deducir sus gastos por comida (sujeto al límite del 50%) y alojamiento durante las 2 semanas que asistió al seminario. Myfreetaxes com baltimorecash Cruceros y congresos. Myfreetaxes com baltimorecash   Algunos cruceros y congresos ofrecen seminarios o cursos como parte de su itinerario. Myfreetaxes com baltimorecash Aun si los seminarios o cursos están relacionados con el trabajo, su deducción por viaje puede verse limitada. Myfreetaxes com baltimorecash Esto es aplicable a: Viajes en buque transatlántico, crucero u otra forma de transporte marítimo de lujo y Congresos fuera del área de Norteamérica. Myfreetaxes com baltimorecash   Si desea consultar más acerca de los límites de deducciones de gastos de viaje que sean aplicables a cruceros y congresos, vea Luxury Water Travel (Viajes en buques de lujo) y Conventions (Congresos) en el capítulo 1 de la Publicación 463, en inglés. Myfreetaxes com baltimorecash Límite del 50% del costo de comidas. Myfreetaxes com baltimorecash   Sólo puede deducir el 50% del costo de sus comidas cuando viaja fuera de casa para realizar estudios relacionados con el trabajo que reúnan los requisitos de la deducción. Myfreetaxes com baltimorecash No se le pueden haber reembolsado los gastos por las comidas. Myfreetaxes com baltimorecash   Los empleados tienen que usar el Formulario 2106 o el Formulario 2106-EZ para aplicar el límite del 50%. Myfreetaxes com baltimorecash Viajes con Fines Educativos No puede deducir el costo de sus viajes con fines educativos, incluso si están directamente relacionados con los deberes de su trabajo o negocio. Myfreetaxes com baltimorecash Ejemplo. Myfreetaxes com baltimorecash Usted es maestro de francés. Myfreetaxes com baltimorecash Durante una ausencia sabática otorgada para viajar, recorrió Francia para mejorar sus conocimientos del francés. Myfreetaxes com baltimorecash Elige su itinerario y la mayoría de sus actividades con el fin de mejorar sus destrezas lingüísticas en francés. Myfreetaxes com baltimorecash No puede deducir sus gastos de viaje como gastos de estudios. Myfreetaxes com baltimorecash Esto es aplicable aunque haya dedicado la mayor parte del tiempo a aprender francés visitando escuelas y familias francesas, asistiendo a películas u obras de teatro y participando en actividades similares. Myfreetaxes com baltimorecash No se Permiten Beneficios Dobles No se le permite hacer lo siguiente: Deducir los gastos de estudios relacionados con el trabajo como gastos de negocios si deduce estos gastos conforme con cualquier otra disposición de la ley, por ejemplo, la deducción de matrículas y cuotas (vea el capítulo 35). Myfreetaxes com baltimorecash Deducir los gastos de estudios relacionados con el trabajo pagados con fondos de ayuda para los estudios provistos por el empleador, subvención o beca libre de impuestos. Myfreetaxes com baltimorecash Vea Ajustes a Gastos de Estudios Relacionados con el Trabajo que Reúnen los Requisitos de la Deducción , a continuación. Myfreetaxes com baltimorecash Ajustes a Gastos de Estudios Relacionados con el Trabajo que Reúnen los Requisitos de la Deducción Si paga gastos de estudios relacionados con el trabajo que reúnen los requisitos de la deducción con determinados fondos exentos de impuestos, no puede reclamar una deducción por estas cantidades. Myfreetaxes com baltimorecash Tiene que reducir la cantidad de los gastos que reúnen los requisitos por la cantidad de tales gastos que le pueden corresponder a la asistencia para estudios exenta de impuestos. Myfreetaxes com baltimorecash Para más información, vea el capítulo 12 de la Publicación 970, en inglés. Myfreetaxes com baltimorecash La asistencia para estudios exenta de impuestos incluye: La parte exenta de impuestos de becas de estudios y becas de investigación (vea el capítulo 1 de la Publicación 970, en inglés); La parte exenta de impuestos de las subvenciones federales Pell (vea el capítulo 1 de la Publicación 970, en inglés); La parte exenta de impuestos de la asistencia para estudios provista por el empleador (vea el capítulo 11 de la Publicación 970, en inglés); Asistencia para estudios destinada a veteranos (vea el capítulo 1 de la Publicación 970, en inglés) y Cualquier otro pago no gravable (libre de impuestos) (que no sean regalos o herencias) que reciba como asistencia para los estudios. Myfreetaxes com baltimorecash Cantidades que no reducen los gastos de estudios relacionados con el trabajo que reúnen los requisitos de la deducción. Myfreetaxes com baltimorecash   No reduzca los gastos de estudios relacionados con el trabajo que reúnen los requisitos de la deducción las cantidades pagadas con fondos que el estudiante reciba como: Un pago por servicios, como salarios; Un préstamo; Un regalo; Una herencia o Un retiro de la cuenta de ahorros personal del estudiante. Myfreetaxes com baltimorecash   Tampoco reduzca la cantidad de los gastos de estudios relacionados con el trabajo que reúnen los requisitos de la deducción por la cantidad de una beca de estudios o beca de investigación declarada como ingreso en la declaración de impuestos del estudiante ni becas que, según lo establecido, no se puedan aplicar a gastos de estudios relacionados con el trabajo que reúnen los requisitos de la deducción. Myfreetaxes com baltimorecash Reembolsos El trato tributario que dé a los reembolsos depende del acuerdo que tenga con su empleador. Myfreetaxes com baltimorecash Existen dos tipos básicos de acuerdos de reembolso: planes con rendición de cuentas y planes sin rendición de cuentas. Myfreetaxes com baltimorecash Puede determinar el tipo de plan mediante el cual se le reembolsa según la manera en que se declara el reembolso en su Formulario W-2. Myfreetaxes com baltimorecash Para información sobre cómo tratar los reembolsos bajo planes con rendición de cuentas y planes sin rendición de cuentas, vea Reembolsos en el capítulo 26. Myfreetaxes com baltimorecash Cómo Deducir Gastos de Negocios Las personas que trabajan por cuenta propia y los empleados declaran los gastos de negocios de manera diferente. Myfreetaxes com baltimorecash La siguiente información explica qué formularios tiene que usar para deducir como gasto de negocios el costo de sus estudios relacionados con el trabajo que reúnen los requisitos de la deducción. Myfreetaxes com baltimorecash Personas que Trabajan por Cuenta Propia Si trabaja por cuenta propia, declare el costo de sus estudios relacionados con el trabajo que reúnen los requisitos de la deducción en el formulario correspondiente que se utilizó para declarar su ingreso de negocio y gastos (generalmente en el Anexo C, C-EZ o F). Myfreetaxes com baltimorecash Si sus gastos de estudios incluyen gastos de automóvil o camión, viajes o comidas, declare estos gastos de la misma forma en la que declara los demás gastos de negocios para esas partidas. Myfreetaxes com baltimorecash Vea las instrucciones del formulario que presente para obtener información acerca de cómo completarlo. Myfreetaxes com baltimorecash Empleados Si es empleado, puede deducir el costo de estudios relacionados con el trabajo que reúnen los requisitos de la deducción sólo si: No recibió (y no tuvo derecho a recibir) reembolsos de su empleador; Se le reembolsó conforme a un plan sin rendición de cuentas (la cantidad se incluye en el recuadro 1 del Formulario W-2) o Recibió un reembolso conforme a un plan con rendición de cuentas, pero la cantidad recibida fue menor que sus gastos por los cuales usted reclamó un reembolso. Myfreetaxes com baltimorecash Si le corresponde el punto (1) o (2), puede deducir la totalidad del costo que reúne los requisitos de la deducción. Myfreetaxes com baltimorecash Si le corresponde el punto (3), puede deducir sólo los costos mayores que su reembolso que reúnen los requisitos de la deducción. Myfreetaxes com baltimorecash Para deducir como gasto de negocios el costo de sus estudios relacionados con el trabajo que reúnen los requisitos de la deducción, incluya la cantidad con su deducción para todos los demás gastos de negocios del empleado en la línea 21 del Anexo A (Formulario 1040). Myfreetaxes com baltimorecash (Más adelante se explican las reglas especiales para gastos de ciertos artistas del espectáculo y funcionarios a los que se les pagan honorarios y para gastos de trabajo relacionados con un impedimento). Myfreetaxes com baltimorecash Esta deducción (con la excepción de los gastos del trabajo relacionados con el impedimento de personas discapacitadas) está sujeta al límite de ingreso bruto ajustado del 2% aplicable a la mayoría de las deducciones detalladas misceláneas. Myfreetaxes com baltimorecash Vea el capítulo 28. Myfreetaxes com baltimorecash Formulario 2106 o 2106-EZ. Myfreetaxes com baltimorecash   Para calcular su deducción con respecto a los gastos de negocios del empleado, incluidos los estudios relacionados con el trabajo que reúnen los requisitos de la deducción, por lo general tiene que completar el Formulario 2106 o el Formulario 2106-EZ. Myfreetaxes com baltimorecash No se requiere el formulario. Myfreetaxes com baltimorecash   No complete el Formulario 2106 ni el Formulario 2106-EZ si: Las cantidades incluidas en el recuadro 1 de su Formulario W-2 no se consideran reembolsos y No declara gastos de viaje, transporte, comidas o entretenimiento. Myfreetaxes com baltimorecash   Si cumple los dos requisitos anteriores, anote los gastos directamente en la línea 21 del Anexo A (Formulario 1040). Myfreetaxes com baltimorecash (Más adelante se explican las reglas especiales para gastos de ciertos artistas del espectáculo y funcionarios a los que se les pagan honorarios y para gastos de trabajo relacionados con un impedimento). Myfreetaxes com baltimorecash Uso del Formulario 2106-EZ. Myfreetaxes com baltimorecash   Este formulario es más corto y fácil de usar que el Formulario 2106. Myfreetaxes com baltimorecash Por lo general, puede usar este formulario si: Todos los reembolsos, si los hubiera, se incluyeron en el recuadro 1 de su Formulario W-2 y Utiliza la tarifa estándar por millas si declara gastos de vehículo. Myfreetaxes com baltimorecash   Si no cumple estos dos requisitos, utilice el Formulario 2106. Myfreetaxes com baltimorecash Artistas del Espectáculo y Funcionarios a los que se les Pagan Honorarios Si es artista del espectáculo que reúne los requisitos o funcionario del gobierno estatal (o local) que recibe su pago total o en parte de honorarios, puede deducir el costo de sus estudios relacionado con el trabajo que reúne los requisitos de la deducción como ajuste al ingreso bruto en lugar de una deducción detallada. Myfreetaxes com baltimorecash Incluya el costo de sus estudios relacionados con el trabajo que reúnen los requisitos de la deducción junto con todos los demás gastos de negocios del empleado y anote el total en la línea 24 del Formulario 1040. Myfreetaxes com baltimorecash No tiene que detallar sus deducciones en el Anexo A (Formulario 1040) y, por lo tanto, la deducción no está sujeta al límite de ingreso bruto ajustado del 2%. Myfreetaxes com baltimorecash Tiene que completar el Formulario 2106 o 2106-EZ para calcular su deducción, incluso si cumple los requisitos descritos anteriormente bajo No se requiere el formulario . Myfreetaxes com baltimorecash Para más información acerca de los artistas del espectáculo que reúnen los requisitos, vea el capítulo 6 de la Publicación 463, en inglés. Myfreetaxes com baltimorecash Gastos de Trabajo Relacionados con un Impedimento Si está incapacitado y tiene gastos de trabajo relacionados con un impedimento que sean necesarios para permitirle realizar estudios relacionados con el trabajo, que reúnen los requisitos de la deducción, puede deducir estos gastos en la línea 28 del Anexo A (Formulario 1040). Myfreetaxes com baltimorecash No están sujetos al límite del 2% del ingreso bruto ajustado. Myfreetaxes com baltimorecash Para deducir estos gastos, tiene que completar el Formulario 2106 o 2106-EZ, aun si cumple los requisitos descritos anteriormente en No se requiere el formulario . Myfreetaxes com baltimorecash Para más información acerca de gastos de trabajo relacionados con un impedimento, vea el capítulo 6 de la Publicación 463, en inglés. Myfreetaxes com baltimorecash Documentación Tiene que mantener documentación como comprobante de las deducciones reclamadas en su declaración de impuestos. Myfreetaxes com baltimorecash Por lo general, debe mantener su documentación durante 3 años desde la fecha de presentación de la declaración y de haber reclamado la deducción. Myfreetaxes com baltimorecash Para obtener información específica acerca de cómo mantener documentación de los gastos de negocios, vea Mantenimiento de Documentación en el capítulo 26. Myfreetaxes com baltimorecash Prev  Up  Next   Home   More Online Publications
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Myfreetaxes com baltimorecash Publication 929 - Main Content Table of Contents Part 1. Myfreetaxes com baltimorecash Rules for All Dependents Filing RequirementsEarned Income Only Unearned Income Only Both Earned and Unearned Income Other Filing Requirements Should a Return Be Filed Even If Not Required? Responsibility for Child's ReturnThird party designee. Myfreetaxes com baltimorecash Designated as representative. Myfreetaxes com baltimorecash IRS notice. Myfreetaxes com baltimorecash Standard DeductionStandard Deduction of Zero Dependent's Own Exemption Withholding From WagesExceptions. Myfreetaxes com baltimorecash Part 2. Myfreetaxes com baltimorecash Tax on Unearned Income of Certain ChildrenWhich Parent's Return To Use Parent's Election To Report Child's Interest and DividendsEffect of Making the Election Figuring Child's Income Figuring Additional Tax Tax for Certain Children Who Have Unearned IncomeProviding Parental Information (Form 8615, Lines A–C) Step 1. Myfreetaxes com baltimorecash Figuring the Child's Net Unearned Income (Form 8615, Part I) Step 2. Myfreetaxes com baltimorecash Figuring a Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) Step 3. Myfreetaxes com baltimorecash Figuring the Child's Tax (Form 8615, Part III) Alternative Minimum Tax Illustrated Example Part 1. Myfreetaxes com baltimorecash Rules for All Dependents This part of the publication discusses the filing requirements for dependents, who is responsible for a child's return, how to figure a dependent's standard deduction and exemption (if any), and whether a dependent can claim exemption from federal income tax withholding. Myfreetaxes com baltimorecash Filing Requirements Whether a dependent has to file a return generally depends on the amount of the dependent's earned and unearned income and whether the dependent is married, is age 65 or older, or is blind. Myfreetaxes com baltimorecash A dependent may have to file a return even if his or her income is less than the amount that would normally require a return. Myfreetaxes com baltimorecash See Other Filing Requirements, later. Myfreetaxes com baltimorecash The following sections apply to dependents with: Earned income only, Unearned income only, and Both earned and unearned income. Myfreetaxes com baltimorecash  To find out whether a dependent must file, read the section that applies, or use Table 1. Myfreetaxes com baltimorecash Earned Income Only A dependent whose gross income is only earned income must file a return if the gross income is more than the amount listed in the following table. Myfreetaxes com baltimorecash Marital Status Amount Single   Under 65 and not blind $6,100 Either 65 or older or blind $7,600 65 or older and blind $9,100 Married*   Under 65 and not blind $6,100 Either 65 or older or blind $7,300 65 or older and blind $8,500 *If a dependent's spouse itemizes deductions on a separate return, the dependent must file a return if the dependent has $5 or more of gross income (earned and/or unearned). Myfreetaxes com baltimorecash Example. Myfreetaxes com baltimorecash William is 16. Myfreetaxes com baltimorecash His mother claims an exemption for him on her income tax return. Myfreetaxes com baltimorecash He worked part time on weekends during the school year and full time during the summer. Myfreetaxes com baltimorecash He earned $7,000 in wages. Myfreetaxes com baltimorecash He did not have any unearned income. Myfreetaxes com baltimorecash He must file a tax return because he has earned income only and his gross income is more than $6,100. Myfreetaxes com baltimorecash If he is blind, he does not have to file a return because his gross income is not more than $7,600. Myfreetaxes com baltimorecash Unearned Income Only A dependent whose gross income is only unearned income must file a return if the gross income is more than the amount listed in the following table. Myfreetaxes com baltimorecash Marital Status Amount Single   Under 65 and not blind $1,000 Either 65 or older or blind $2,500 65 or older and blind $4,000 Married*   Under 65 and not blind $1,000 Either 65 or older or blind $2,200 65 or older and blind $3,400 *If a dependent's spouse itemizes deductions on a separate return, the dependent must file a return if the dependent has $5 or more of gross income (earned and/or unearned). Myfreetaxes com baltimorecash Example. Myfreetaxes com baltimorecash Sarah is 18 and single. Myfreetaxes com baltimorecash Her parents can claim an exemption for her on their income tax return. Myfreetaxes com baltimorecash She received $1,970 of taxable interest and dividend income. Myfreetaxes com baltimorecash She did not work during the year. Myfreetaxes com baltimorecash She must file a tax return because she has unearned income only and her gross income is more than $1,000. Myfreetaxes com baltimorecash If she is blind, she does not have to file a return because she has unearned income only and her gross income is not more than $2,500. Myfreetaxes com baltimorecash Election to report child's unearned income on parent's return. Myfreetaxes com baltimorecash   A parent of a child under age 19 (or under age 24 if a full-time student) may be able to elect to include the child's interest and dividend income on the parent's return. Myfreetaxes com baltimorecash See Parent's Election To Report Child's Interest and Dividends in Part 2. Myfreetaxes com baltimorecash If the parent makes this election, the child does not have to file a return. Myfreetaxes com baltimorecash Both Earned and Unearned Income A dependent who has both earned and unearned income generally must file a return if the dependent's gross income is more than line 5 of the following worksheet. Myfreetaxes com baltimorecash Filing Requirement Worksheet for Most Dependents 1. Myfreetaxes com baltimorecash Enter dependent's earned income plus $350     2. Myfreetaxes com baltimorecash Minimum amount   $1,000 3. Myfreetaxes com baltimorecash Compare lines 1 and 2. Myfreetaxes com baltimorecash Enter the larger amount     4. Myfreetaxes com baltimorecash Maximum amount   6,100 5. Myfreetaxes com baltimorecash Compare lines 3 and 4. Myfreetaxes com baltimorecash Enter the smaller amount     6. Myfreetaxes com baltimorecash Enter the dependent's gross income. Myfreetaxes com baltimorecash If line 6 is more than line 5, the dependent must file an income tax return. Myfreetaxes com baltimorecash If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 6 is $5 or more. Myfreetaxes com baltimorecash       Table 1. Myfreetaxes com baltimorecash 2013 Filing Requirements for Dependents If your parent (or someone else) can claim you as a dependent, use this table to see if you must file a return. Myfreetaxes com baltimorecash   See the definitions of “dependent,”“earned income,”“unearned income,” and “gross income” in the Glossary. Myfreetaxes com baltimorecash   Single dependents—Were you either age 65 or older or blind?     No. Myfreetaxes com baltimorecash You must file a return if any of the following apply. Myfreetaxes com baltimorecash       Your unearned income was over $1,000. Myfreetaxes com baltimorecash Your earned income was over $6,100. Myfreetaxes com baltimorecash Your gross income was more than the larger of—       $1,000, or Your earned income (up to $5,750) plus $350. Myfreetaxes com baltimorecash         Yes. Myfreetaxes com baltimorecash You must file a return if any of the following apply. Myfreetaxes com baltimorecash     Your unearned income was over $2,500 ($4,000 if 65 or older and blind), Your earned income was over $7,600 ($9,100 if 65 or older and blind), Your gross income was more than the larger of—       $2,500 ($4,000 if 65 or older and blind), or Your earned income (up to $5,750) plus $1,850 ($3,350 if 65 or older and blind). Myfreetaxes com baltimorecash       Married dependents—Were you either age 65 or older or blind?     No. Myfreetaxes com baltimorecash You must file a return if any of the following apply. Myfreetaxes com baltimorecash       Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. Myfreetaxes com baltimorecash Your unearned income was over $1,000. Myfreetaxes com baltimorecash Your earned income was over $6,100. Myfreetaxes com baltimorecash Your gross income was more than the larger of—       $1,000, or Your earned income (up to $5,750) plus $350. Myfreetaxes com baltimorecash       Yes. Myfreetaxes com baltimorecash You must file a return if any of the following apply. Myfreetaxes com baltimorecash       Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. Myfreetaxes com baltimorecash Your unearned income was over $2,200 ($3,400 if 65 or older and blind), Your earned income was over $7,300 ($8,500 if 65 or older and blind), Your gross income was more than the larger of—       $2,200 ($3,400 if 65 or older and blind), or Your earned income (up to $5,750) plus $1,550 ($2,750 if 65 or older and blind). Myfreetaxes com baltimorecash       Example 1. Myfreetaxes com baltimorecash Joe is 20, single, not blind, and a full-time college student. Myfreetaxes com baltimorecash He does not provide more than half of his own support, and his parents claim an exemption for him on their income tax return. Myfreetaxes com baltimorecash He received $200 taxable interest income and earned $2,750 from a part-time job. Myfreetaxes com baltimorecash He does not have to file a tax return because his gross income of $2,950 ($200 interest plus $2,750 in wages) is not more than $3,100, the amount on line 5 of his filled-in Filing Requirement Worksheet for Most Dependents (shown next). Myfreetaxes com baltimorecash Filled-in Example 1 Filing Requirement Worksheet  for Most Dependents 1. Myfreetaxes com baltimorecash Enter dependent's earned income plus $350   $ 3,100 2. Myfreetaxes com baltimorecash Minimum amount   1,000 3. Myfreetaxes com baltimorecash Compare lines 1 and 2. Myfreetaxes com baltimorecash Enter the larger amount   3,100 4. Myfreetaxes com baltimorecash Maximum amount   6,100 5. Myfreetaxes com baltimorecash Compare lines 3 and 4. Myfreetaxes com baltimorecash Enter the smaller amount   3,100 6. Myfreetaxes com baltimorecash Enter the dependent's gross income. Myfreetaxes com baltimorecash If line 6 is more than line 5, the dependent must file an income tax return. Myfreetaxes com baltimorecash If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 6 is $5 or more. Myfreetaxes com baltimorecash   $ 2,950   Example 2. Myfreetaxes com baltimorecash The facts are the same as in Example 1 except that Joe had $600 taxable interest income. Myfreetaxes com baltimorecash He must file a tax return because his gross income of $3,350 ($600 interest plus $2,750 wages) is more than $3,100, the amount on line 5 of his filled-in worksheet (shown next). Myfreetaxes com baltimorecash Filled-in Example 2 Filing Requirement Worksheet for Most Dependents 1. Myfreetaxes com baltimorecash Enter dependent's earned income plus $350   $ 3,100 2. Myfreetaxes com baltimorecash Minimum amount   1,000 3. Myfreetaxes com baltimorecash Compare lines 1 and 2. Myfreetaxes com baltimorecash Enter the larger amount   3,100 4. Myfreetaxes com baltimorecash Maximum amount   6,100 5. Myfreetaxes com baltimorecash Compare lines 3 and 4. Myfreetaxes com baltimorecash Enter the smaller amount   3,100 6. Myfreetaxes com baltimorecash Enter the dependent's gross income. Myfreetaxes com baltimorecash If line 6 is more than line 5, the dependent must file an income tax return. Myfreetaxes com baltimorecash If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 6 is $5 or more. Myfreetaxes com baltimorecash   $ 3,350   Age 65 or older or blind. Myfreetaxes com baltimorecash A dependent who is age 65 or older or blind must file a return if his or her gross income is more than line 7 of the following worksheet. Myfreetaxes com baltimorecash Filing Requirement Worksheet  for Dependents Who Are Age 65 or Older or Blind 1. Myfreetaxes com baltimorecash Enter dependent's earned income plus $350     2. Myfreetaxes com baltimorecash Minimum amount   $1,000 3. Myfreetaxes com baltimorecash Compare lines 1 and 2. Myfreetaxes com baltimorecash Enter the larger amount     4. Myfreetaxes com baltimorecash Maximum amount   6,100 5. Myfreetaxes com baltimorecash Compare lines 3 and 4. Myfreetaxes com baltimorecash Enter the smaller amount     6. Myfreetaxes com baltimorecash Enter the amount from the following table that applies to the dependent       Marital Status Amount     Single         Either 65 or older or blind $1,500       65 or older and blind $3,000     Married         Either 65 or older or blind $1,200       65 or older and blind $2,400   7. Myfreetaxes com baltimorecash Add lines 5 and 6. Myfreetaxes com baltimorecash Enter the total     8. Myfreetaxes com baltimorecash Enter the dependent's gross income. Myfreetaxes com baltimorecash If line 8 is more than line 7, the dependent must file an income tax return. Myfreetaxes com baltimorecash If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 8 is $5 or more     Example 3. Myfreetaxes com baltimorecash The facts are the same as in Example 2 except that Joe is also blind. Myfreetaxes com baltimorecash He does not have to file a return because his gross income of $3,350 is not more than $4,600, the amount on line 7 of his filled-in Filing Requirement Worksheet for Dependents Who Are Age 65 or Older or Blind (shown next). Myfreetaxes com baltimorecash   Filled-in Example 3 Filing Requirement Worksheet  for Dependents Who Are Age 65 or Older or Blind 1. Myfreetaxes com baltimorecash Enter dependent's earned income plus $350   $3,100 2. Myfreetaxes com baltimorecash Minimum amount   1,000 3. Myfreetaxes com baltimorecash Compare lines 1 and 2. Myfreetaxes com baltimorecash Enter the larger amount   3,100 4. Myfreetaxes com baltimorecash Maximum amount   6,100 5. Myfreetaxes com baltimorecash Compare lines 3 and 4. Myfreetaxes com baltimorecash Enter the smaller amount   3,100 6. Myfreetaxes com baltimorecash Enter the amount from the following table that applies to the dependent   1,500   Marital Status Amount     Single         Either 65 or older or blind $1,500       65 or older and blind $3,000     Married         Either 65 or older or blind $1,200       65 or older and blind $2,400   7. Myfreetaxes com baltimorecash Add lines 5 and 6. Myfreetaxes com baltimorecash Enter the total   4,600 8. Myfreetaxes com baltimorecash Enter the dependent's gross income. Myfreetaxes com baltimorecash If line 8 is more than line 7, the dependent must file an income tax return. Myfreetaxes com baltimorecash If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 8 is $5 or more   $3,350 Other Filing Requirements Some dependents may have to file a tax return even if their income is less than the amount that would normally require them to file a return. Myfreetaxes com baltimorecash A dependent must file a tax return if he or she owes any other taxes, such as: Social security and Medicare taxes on tips not reported to his or her employer or on wages received from an employer who did not withhold these taxes, Uncollected social security and Medicare or railroad retirement taxes on tips reported to his or her employer or on group-term life insurance, Alternative minimum tax, Additional tax on a health savings account from Form 8889, Part III, Recapture taxes, such as the tax from recapture of an education credit, or Additional tax on a qualified plan, including an individual retirement arrangement (IRA), or other tax-favored account. Myfreetaxes com baltimorecash But if the dependent is filing a return only because of this tax, the dependent can file Form 5329 by itself. Myfreetaxes com baltimorecash A dependent must also file a tax return if he or she: Had wages of $108. Myfreetaxes com baltimorecash 28 or more from a church or qualified church-controlled organization that is exempt from employer social security and Medicare taxes, or Had net earnings from self-employment of at least $400. Myfreetaxes com baltimorecash Spouse itemizes. Myfreetaxes com baltimorecash   A dependent must file a return if the dependent's spouse itemizes deductions on a separate return and the dependent has $5 or more of gross income (earned and/or unearned). Myfreetaxes com baltimorecash Should a Return Be Filed Even If Not Required? Even if a dependent does not meet any of the filing requirements discussed earlier, he or she should file a tax return if either of the following applies. Myfreetaxes com baltimorecash Income tax was withheld from his or her income. Myfreetaxes com baltimorecash He or she qualifies for the earned income credit, additional child tax credit, health coverage tax credit, or refundable American opportunity education credit. Myfreetaxes com baltimorecash See the tax return instructions to find out who qualifies for these credits. Myfreetaxes com baltimorecash  By filing a return, the dependent can get a refund. Myfreetaxes com baltimorecash Responsibility for Child's Return Generally, a child is responsible for filing his or her own tax return and for paying any tax, penalties, or interest on that return. Myfreetaxes com baltimorecash If a child cannot file his or her own return for any reason, such as age, the child's parent, guardian, or other legally responsible person must file it for the child. Myfreetaxes com baltimorecash Signing the child's return. Myfreetaxes com baltimorecash   If the child cannot sign his or her return, a parent or guardian must sign the child's name followed by the words “By (signature), parent (or guardian) for minor child. Myfreetaxes com baltimorecash ” Authority of parent or guardian. Myfreetaxes com baltimorecash   A parent or guardian who signs a return on a child's behalf can deal with the IRS on all matters connected with the return. Myfreetaxes com baltimorecash   In general, a parent or guardian who does not sign the child's return can only provide information concerning the child's return and pay the child's tax. Myfreetaxes com baltimorecash That parent or guardian is not entitled to receive information from the IRS or legally bind the child to a tax liability arising from the return. Myfreetaxes com baltimorecash Third party designee. Myfreetaxes com baltimorecash   A child's parent or guardian who does not sign the child's return may be authorized, as a third party designee, to discuss the processing of the return with the IRS as well as provide information concerning the return. Myfreetaxes com baltimorecash The child or the person signing the return on the child's behalf must check the “Yes” box in the “Third Party Designee” area of the return and name the parent or guardian as the designee. Myfreetaxes com baltimorecash   If designated, a parent or guardian can respond to certain IRS notices and receive information about the processing of the return and the status of a refund or payment. Myfreetaxes com baltimorecash This designation does not authorize the parent or guardian to receive any refund check, bind the child to any tax liability, or otherwise represent the child before the IRS. Myfreetaxes com baltimorecash See the return instructions for more information. Myfreetaxes com baltimorecash Designated as representative. Myfreetaxes com baltimorecash   A parent or guardian who does not sign the child's return may be designated as the child's representative by the child or the person signing the return on the child's behalf. Myfreetaxes com baltimorecash Form 2848, Power of Attorney and Declaration of Representative, is used to designate a child's representative. Myfreetaxes com baltimorecash See Publication 947, Practice Before the IRS and Power of Attorney, for more information. Myfreetaxes com baltimorecash   If designated, a parent or guardian can receive information about the child's return but cannot legally bind the child to a tax liability unless authorized to do so by the law of the state in which the child lives. Myfreetaxes com baltimorecash IRS notice. Myfreetaxes com baltimorecash   If you or the child receives a notice from the IRS concerning the child's return or tax liability, you should immediately inform the IRS that the notice concerns a child. Myfreetaxes com baltimorecash The notice will show who to contact. Myfreetaxes com baltimorecash The IRS will try to resolve the matter with the parent(s) or guardian(s) of the child consistent with their authority. Myfreetaxes com baltimorecash Child's earnings. Myfreetaxes com baltimorecash   For federal income tax purposes, amounts a child earns by performing services are included in the gross income of the child and not the gross income of the parent. Myfreetaxes com baltimorecash This is true even if, under state law, the parent has the right to the earnings and may actually have received them. Myfreetaxes com baltimorecash If the child does not pay the tax due on this income, the parent may be liable for the tax. Myfreetaxes com baltimorecash Child's expenses. Myfreetaxes com baltimorecash   Deductions for payments that are made out of a child's earnings are the child's, even if the payments are made by the parent. Myfreetaxes com baltimorecash Example. Myfreetaxes com baltimorecash You made payments on your child's behalf that are deductible as a business expense and a charitable contribution. Myfreetaxes com baltimorecash You made the payments out of your child's earnings. Myfreetaxes com baltimorecash These items can be deducted only on the child's return. Myfreetaxes com baltimorecash Standard Deduction The standard deduction for an individual who can be claimed as a dependent on another person's tax return is generally limited to the larger of: $1,000, or The individual's earned income plus $350, but not more than the regular standard deduction (generally $6,100). Myfreetaxes com baltimorecash However, the standard deduction may be higher for a dependent who: Is 65 or older, or Is blind. Myfreetaxes com baltimorecash Certain dependents cannot claim any standard deduction. Myfreetaxes com baltimorecash See Standard Deduction of Zero , later. Myfreetaxes com baltimorecash Worksheet 1. Myfreetaxes com baltimorecash   Use Worksheet 1 to figure the dependent's standard deduction. Myfreetaxes com baltimorecash Worksheet 1. Myfreetaxes com baltimorecash Standard Deduction Worksheet for Dependents Use this worksheet only if someone else can claim you (or your spouse, if filing jointly) as a dependent. Myfreetaxes com baltimorecash If you were 65 or older and/or blind, check the correct number of boxes below. Myfreetaxes com baltimorecash Put the total number of boxes checked in box c and go to line 1. Myfreetaxes com baltimorecash a. Myfreetaxes com baltimorecash You 65 or older   Blind   b. Myfreetaxes com baltimorecash Your spouse, if claiming  spouse's exemption 65 or older   Blind   c. Myfreetaxes com baltimorecash Total boxes checked         1. Myfreetaxes com baltimorecash Enter your earned income (defined below) plus $350. Myfreetaxes com baltimorecash If none, enter -0-. Myfreetaxes com baltimorecash 1. Myfreetaxes com baltimorecash     2. Myfreetaxes com baltimorecash Minimum amount. Myfreetaxes com baltimorecash   2. Myfreetaxes com baltimorecash $1,000   3. Myfreetaxes com baltimorecash Compare lines 1 and 2. Myfreetaxes com baltimorecash Enter the larger of the two amounts here. Myfreetaxes com baltimorecash 3. Myfreetaxes com baltimorecash     4. Myfreetaxes com baltimorecash Enter on line 4 the amount shown below for your filing status. Myfreetaxes com baltimorecash       Single or Married filing separately—$6,100 Married filing jointly—$12,200 Head of household—$8,950 4. Myfreetaxes com baltimorecash     5. Myfreetaxes com baltimorecash Standard deduction. Myfreetaxes com baltimorecash         a. Myfreetaxes com baltimorecash Compare lines 3 and 4. Myfreetaxes com baltimorecash Enter the smaller amount here. Myfreetaxes com baltimorecash If under 65 and not blind, stop here. Myfreetaxes com baltimorecash This is your standard deduction. Myfreetaxes com baltimorecash Otherwise, go on to line 5b. Myfreetaxes com baltimorecash 5a. Myfreetaxes com baltimorecash     b. Myfreetaxes com baltimorecash If 65 or older or blind, multiply $1,500 ($1,200 if married) by the number in box c above. Myfreetaxes com baltimorecash Enter the result here. Myfreetaxes com baltimorecash 5b. Myfreetaxes com baltimorecash     c. Myfreetaxes com baltimorecash Add lines 5a and 5b. Myfreetaxes com baltimorecash This is your standard deduction for 2013. Myfreetaxes com baltimorecash 5c. Myfreetaxes com baltimorecash     Earned income includes wages, salaries, tips, professional fees, and other compensation received for personal services you performed. Myfreetaxes com baltimorecash It also includes any amount received as a scholarship that you must include in income. Myfreetaxes com baltimorecash   Example 1. Myfreetaxes com baltimorecash Michael is single, age 15, and not blind. Myfreetaxes com baltimorecash His parents can claim him as a dependent on their tax return. Myfreetaxes com baltimorecash He has taxable interest income of $800 and wages of $150. Myfreetaxes com baltimorecash He enters $500 (his earned income plus $350) on line 1 of Worksheet 1. Myfreetaxes com baltimorecash On line 3, he enters $1,000, the larger of $500 or $1,000. Myfreetaxes com baltimorecash Michael enters $6,100 on line 4. Myfreetaxes com baltimorecash On line 5a, he enters $1,000, the smaller of $1,000 or $6,100. Myfreetaxes com baltimorecash His standard deduction is $1,000. Myfreetaxes com baltimorecash Example 2. Myfreetaxes com baltimorecash Judy, a full-time student, is single, age 22, and not blind. Myfreetaxes com baltimorecash Her parents can claim her as a dependent on their tax return. Myfreetaxes com baltimorecash She has dividend income of $275 and wages of $2,500. Myfreetaxes com baltimorecash She enters $2,850 (her earned income plus $350) on line 1 of Worksheet 1. Myfreetaxes com baltimorecash On line 3, she enters $2,850, the larger of $2,850 or $1,000. Myfreetaxes com baltimorecash She enters $6,100 on line 4. Myfreetaxes com baltimorecash On line 5a, she enters $2,850 (the smaller of $2,850 or $6,100) as her standard deduction. Myfreetaxes com baltimorecash Example 3. Myfreetaxes com baltimorecash Amy, who is single, is claimed as a dependent on her parents' tax return. Myfreetaxes com baltimorecash She is 18 years old and blind. Myfreetaxes com baltimorecash She has taxable interest income of $1,000 and wages of $2,000. Myfreetaxes com baltimorecash She enters $2,350 (her earned income plus $350) on line 1 of Worksheet 1. Myfreetaxes com baltimorecash She enters $2,350 (the larger of $2,350 or $1,000) on line 3, $6,100 on line 4, and $2,350 (the smaller of $2,350 or $6,100) on line 5a. Myfreetaxes com baltimorecash Because Amy is blind, she checks the box for blindness and enters “1” in box c at the top of Worksheet 1. Myfreetaxes com baltimorecash She enters $1,500 (the number in box c times $1,500) on line 5b. Myfreetaxes com baltimorecash Her standard deduction on line 5c is $3,850 ($2,350 + $1,500). Myfreetaxes com baltimorecash Standard Deduction of Zero The standard deduction for the following dependents is zero. Myfreetaxes com baltimorecash A married dependent filing a separate return whose spouse itemizes deductions. Myfreetaxes com baltimorecash A dependent who files a return for a period of less than 12 months due to a change in his or her annual accounting period. Myfreetaxes com baltimorecash A nonresident or dual-status alien dependent, unless the dependent is married to a U. Myfreetaxes com baltimorecash S. Myfreetaxes com baltimorecash citizen or resident alien at the end of the year and chooses to be treated as a U. Myfreetaxes com baltimorecash S. Myfreetaxes com baltimorecash resident for the year. Myfreetaxes com baltimorecash See Publication 519, U. Myfreetaxes com baltimorecash S. Myfreetaxes com baltimorecash Tax Guide for Aliens, for information on making this choice. Myfreetaxes com baltimorecash Example. Myfreetaxes com baltimorecash Jennifer, who is a dependent of her parents, is entitled to file a joint return with her husband. Myfreetaxes com baltimorecash However, her husband elects to file a separate return and itemize his deductions. Myfreetaxes com baltimorecash Because he itemizes, Jennifer's standard deduction on her return is zero. Myfreetaxes com baltimorecash She can, however, itemize any of her allowable deductions. Myfreetaxes com baltimorecash Dependent's Own Exemption A person who can be claimed as a dependent on another taxpayer's return cannot claim his or her own exemption. Myfreetaxes com baltimorecash This is true even if the other taxpayer does not actually claim the exemption. Myfreetaxes com baltimorecash Example. Myfreetaxes com baltimorecash James and Barbara can claim their child, Ben, as a dependent on their return. Myfreetaxes com baltimorecash Ben is a college student who works during the summer and must file a tax return. Myfreetaxes com baltimorecash Ben cannot claim his own exemption on his return. Myfreetaxes com baltimorecash This is true even if James and Barbara do not claim him as a dependent on their return. Myfreetaxes com baltimorecash Withholding From Wages Employers generally withhold federal income tax, social security tax, and Medicare tax from an employee's wages. Myfreetaxes com baltimorecash If the employee claims exemption from withholding on Form W-4, the employer will not withhold federal income tax. Myfreetaxes com baltimorecash The exemption from withholding does not apply to social security and Medicare taxes. Myfreetaxes com baltimorecash Conditions for exemption from withholding. Myfreetaxes com baltimorecash   An employee can claim exemption from withholding for 2014 only if he or she meets both of the following conditions. Myfreetaxes com baltimorecash For 2013, the employee had a right to a refund of all federal income tax withheld because he or she had no tax liability. Myfreetaxes com baltimorecash For 2014, the employee expects a refund of all federal income tax withheld because he or she expects to have no tax liability. Myfreetaxes com baltimorecash Dependents. Myfreetaxes com baltimorecash   An employee who is a dependent ordinarily cannot claim exemption from withholding if both of the following are true. Myfreetaxes com baltimorecash The employee's gross income will be more than $1,000, the minimum standard deduction for 2014. Myfreetaxes com baltimorecash The employee's unearned income will be more than $350. Myfreetaxes com baltimorecash Exceptions. Myfreetaxes com baltimorecash   An employee may be able to claim exemption from withholding even if the employee is a dependent, if the employee: Is age 65 or older, Is blind, or Will claim on his or her 2014 tax return: Adjustments to income, Tax credits, or Itemized deductions. Myfreetaxes com baltimorecash The above exceptions do not apply to supplemental wages greater than $1,000,000. Myfreetaxes com baltimorecash For more information, see Exemption From Withholding in chapter 1 of Publication 505. Myfreetaxes com baltimorecash Example. Myfreetaxes com baltimorecash Guy is 17 and a student. Myfreetaxes com baltimorecash During the summer he works part time at a grocery store. Myfreetaxes com baltimorecash He expects to earn about $1,200 this year. Myfreetaxes com baltimorecash He also worked at the store last summer and received a refund of all his withheld income tax because he did not have a tax liability. Myfreetaxes com baltimorecash The only other income he expects during the year is $375 interest on a savings account. Myfreetaxes com baltimorecash He expects that his parents will be able to claim him as a dependent on their tax return. Myfreetaxes com baltimorecash He is not blind and will not claim adjustments to income, itemized deductions, a higher standard deduction, or tax credits on his return. Myfreetaxes com baltimorecash Guy cannot claim exemption from withholding when he fills out Form W-4 because his parents will be able to claim him as a dependent, his gross income will be more than $1,000 (the minimum standard deduction amount) and his unearned income will be more than $350. Myfreetaxes com baltimorecash Claiming exemption from withholding. Myfreetaxes com baltimorecash    To claim exemption from withholding, an employee must enter “Exempt” in the space provided on Form W-4, line 7. Myfreetaxes com baltimorecash The employee must complete the rest of the form, as explained in the form instructions, and give it to his or her employer. Myfreetaxes com baltimorecash Renewing an exemption from withholding. Myfreetaxes com baltimorecash   An exemption from withholding is good for only one year. Myfreetaxes com baltimorecash An employee must file a new Form W-4 by February 15 each year to continue the exemption. Myfreetaxes com baltimorecash Part 2. Myfreetaxes com baltimorecash Tax on Unearned Income of Certain Children The two rules that follow may affect the tax on the unearned income of certain children. Myfreetaxes com baltimorecash If the child's interest and dividend income (including capital gain distributions) total less than $10,000, the child's parent may be able to choose to include that income on the parent's return rather than file a return for the child. Myfreetaxes com baltimorecash (See Parent's Election To Report Child's Interest and Dividends , later. Myfreetaxes com baltimorecash ) If the child's interest, dividends, and other unearned income total more than $2,000, part of that income may be taxed at the parent's tax rate instead of the child's tax rate. Myfreetaxes com baltimorecash (See Tax for Certain Children Who Have Unearned Income , later. Myfreetaxes com baltimorecash ) For these rules, the term “child” includes a legally adopted child and a stepchild. Myfreetaxes com baltimorecash These rules apply whether or not the child is a dependent. Myfreetaxes com baltimorecash These rules do not apply if neither of the child's parents were living at the end of the year. Myfreetaxes com baltimorecash Which Parent's Return To Use If a child's parents are married to each other and file a joint return, use the joint return to figure the tax on the child's unearned income. Myfreetaxes com baltimorecash The tax rate and other return information from that return are used to figure the child's tax as explained later under Tax for Certain Children Who Have Unearned Income . Myfreetaxes com baltimorecash Parents Who Do Not File a Joint Return For parents who do not file a joint return, the following discussions explain which parent's tax return must be used to figure the tax. Myfreetaxes com baltimorecash Only the parent whose tax return is used can make the election described under Parent's Election To Report Child's Interest and Dividends . Myfreetaxes com baltimorecash Parents are married. Myfreetaxes com baltimorecash   If the child's parents file separate returns, use the return of the parent with the greater taxable income. Myfreetaxes com baltimorecash Parents not living together. Myfreetaxes com baltimorecash   If the child's parents are married to each other but not living together, and the parent with whom the child lives (the custodial parent) is considered unmarried, use the return of the custodial parent. Myfreetaxes com baltimorecash If the custodial parent is not considered unmarried, use the return of the parent with the greater taxable income. Myfreetaxes com baltimorecash   For an explanation of when a married person living apart from his or her spouse is considered unmarried, see Head of Household in Publication 501. Myfreetaxes com baltimorecash Parents are divorced. Myfreetaxes com baltimorecash   If the child's parents are divorced or legally separated, and the parent who had custody of the child for the greater part of the year (the custodial parent) has not remarried, use the return of the custodial parent. Myfreetaxes com baltimorecash Custodial parent remarried. Myfreetaxes com baltimorecash   If the custodial parent has remarried, the stepparent (rather than the noncustodial parent) is treated as the child's other parent. Myfreetaxes com baltimorecash Therefore, if the custodial parent and the stepparent file a joint return, use that joint return. Myfreetaxes com baltimorecash Do not use the return of the noncustodial parent. Myfreetaxes com baltimorecash   If the custodial parent and the stepparent are married, but file separate returns, use the return of the one with the greater taxable income. Myfreetaxes com baltimorecash If the custodial parent and the stepparent are married but not living together, the earlier discussion under Parents not living together applies. Myfreetaxes com baltimorecash Parents never married. Myfreetaxes com baltimorecash   If a child's parents have never been married to each other, but lived together all year, use the return of the parent with the greater taxable income. Myfreetaxes com baltimorecash If the parents did not live together all year, the rules explained earlier under Parents are divorced apply. Myfreetaxes com baltimorecash Widowed parent remarried. Myfreetaxes com baltimorecash   If a widow or widower remarries, the new spouse is treated as the child's other parent. Myfreetaxes com baltimorecash The rules explained earlier under Custodial parent remarried apply. Myfreetaxes com baltimorecash Parent's Election To Report Child's Interest and Dividends You may be able to elect to include your child's interest and dividend income (including capital gain distributions) on your tax return. Myfreetaxes com baltimorecash If you do, your child will not have to file a return. Myfreetaxes com baltimorecash You can make this election only if all the following conditions are met. Myfreetaxes com baltimorecash Your child was under age 19 (or under age 24 if a full-time student) at the end of the year. Myfreetaxes com baltimorecash Your child had income only from interest and dividends (including capital gain distributions and Alaska Permanent Fund dividends). Myfreetaxes com baltimorecash The child's gross income was less than $10,000. Myfreetaxes com baltimorecash The child is required to file a return unless you make this election. Myfreetaxes com baltimorecash The child does not file a joint return for the year. Myfreetaxes com baltimorecash No estimated tax payment was made for the year, and no overpayment from the previous year (or from any amended return) was applied to this year under your child's name and social security number. Myfreetaxes com baltimorecash No federal income tax was withheld from your child's income under the backup withholding rules. Myfreetaxes com baltimorecash You are the parent whose return must be used when applying the special tax rules for children. Myfreetaxes com baltimorecash (See Which Parent's Return To Use , earlier. Myfreetaxes com baltimorecash ) These conditions are also shown in Figure 1. Myfreetaxes com baltimorecash Certain January 1 birthdays. Myfreetaxes com baltimorecash   A child born on January 1, 1995, is considered to be age 19 at the end of 2013. Myfreetaxes com baltimorecash You cannot make this election for such a child unless the child was a full-time student. Myfreetaxes com baltimorecash   A child born on January 1, 1990, is considered to be age 24 at the end of 2013. Myfreetaxes com baltimorecash You cannot make this election for such a child. Myfreetaxes com baltimorecash How to make the election. Myfreetaxes com baltimorecash    Make the election by attaching Form 8814 to your Form 1040 or Form 1040NR. Myfreetaxes com baltimorecash (If you make this election, you cannot file Form 1040A or Form 1040EZ. Myfreetaxes com baltimorecash ) Attach a separate Form 8814 for each child for whom you make the election. Myfreetaxes com baltimorecash You can make the election for one or more children and not for others. Myfreetaxes com baltimorecash Effect of Making the Election The federal income tax on your child's income may be more if you make the Form 8814 election. Myfreetaxes com baltimorecash Rate may be higher. Myfreetaxes com baltimorecash   If your child received qualified dividends or capital gain distributions, you may pay up to $100 more tax if you make this election instead of filing a separate tax return for the child. Myfreetaxes com baltimorecash This is because the tax rate on the child's income between $1,000 and $2,000 is 10% if you make this election. Myfreetaxes com baltimorecash However, if you file a separate return for the child, the tax rate may be as low as 0% (zero percent) because of the preferential tax rates for qualified dividends and capital gain distributions. Myfreetaxes com baltimorecash Deductions you cannot take. Myfreetaxes com baltimorecash   By making the Form 8814 election, you cannot take any of the following deductions that the child would be entitled to on his or her return. Myfreetaxes com baltimorecash The additional standard deduction if the child is blind. Myfreetaxes com baltimorecash The deduction for a penalty on an early withdrawal of your child's savings. Myfreetaxes com baltimorecash Itemized deductions (such as your child's investment expenses or charitable contributions). Myfreetaxes com baltimorecash Figure 1. Myfreetaxes com baltimorecash Can You Include Your Child's Income On Your Tax Return? Please click here for the text description of the image. Myfreetaxes com baltimorecash Figure 1. Myfreetaxes com baltimorecash Can You Include Your Child's Income On Your Tax Return? Deductible investment interest. Myfreetaxes com baltimorecash   If you use Form 8814, your child's unearned income is considered your unearned income. Myfreetaxes com baltimorecash To figure the limit on your deductible investment interest, add the child's unearned income to yours. Myfreetaxes com baltimorecash However, if your child received qualified dividends, capital gain distributions, or Alaska Permanent Fund dividends, see chapter 3 of Publication 550 for information about how to figure the limit. Myfreetaxes com baltimorecash Alternative minimum tax. Myfreetaxes com baltimorecash    If your child received tax-exempt interest (or exempt-interest dividends paid by a regulated investment company) from certain private activity bonds, you must determine if that interest is a tax preference item for alternative minimum tax (AMT) purposes. Myfreetaxes com baltimorecash If it is, you must include it with your own tax preference items when figuring your AMT. Myfreetaxes com baltimorecash See Form 6251, Alternative Minimum Tax—Individuals, and its instructions for details. Myfreetaxes com baltimorecash Reduced deductions or credits. Myfreetaxes com baltimorecash   If you use Form 8814, your increased adjusted gross income may reduce certain deductions or credits on your return, including the following. Myfreetaxes com baltimorecash Deduction for contributions to a traditional individual retirement arrangement (IRA). Myfreetaxes com baltimorecash Deduction for student loan interest. Myfreetaxes com baltimorecash Itemized deductions for medical expenses, casualty and theft losses, and certain miscellaneous expenses. Myfreetaxes com baltimorecash Credit for child and dependent care expenses. Myfreetaxes com baltimorecash Child tax credit. Myfreetaxes com baltimorecash Education tax credits. Myfreetaxes com baltimorecash Earned income credit. Myfreetaxes com baltimorecash Penalty for underpayment of estimated tax. Myfreetaxes com baltimorecash   If you make this election for 2013 and did not have enough tax withheld or pay enough estimated tax to cover the tax you owe, you may be subject to a penalty. Myfreetaxes com baltimorecash If you plan to make this election for 2014, you may need to increase your federal income tax withholding or your estimated tax payments to avoid the penalty. Myfreetaxes com baltimorecash Get Publication 505 for more information. Myfreetaxes com baltimorecash Figuring Child's Income Use Form 8814, Part I, to figure your child's interest and dividend income to report on your return. Myfreetaxes com baltimorecash Only the amount over $2,000 is added to your income. Myfreetaxes com baltimorecash The amount over $2,000 is shown on Form 8814, line 6. Myfreetaxes com baltimorecash Unless the child's income includes qualified dividends or capital gain distributions (discussed next), the same amount is shown on Form 8814, line 12. Myfreetaxes com baltimorecash Include the amount from Form 8814, line 12, on Form 1040 or Form 1040NR, line 21. Myfreetaxes com baltimorecash If you file more than one Form 8814, include the total amounts from line 12 of all your Forms 8814 on Form 1040 or Form 1040NR, line 21. Myfreetaxes com baltimorecash On the dotted line next to line 21, enter “Form 8814” and the total of the Form 8814, line 12 amounts. Myfreetaxes com baltimorecash Note. Myfreetaxes com baltimorecash The tax on the first $2,000 is figured on Form 8814, Part II. Myfreetaxes com baltimorecash See Figuring Additional Tax , later. Myfreetaxes com baltimorecash Qualified dividends. Myfreetaxes com baltimorecash   Enter on Form 8814, line 2a, any ordinary dividends your child received. Myfreetaxes com baltimorecash This amount may include qualified dividends. Myfreetaxes com baltimorecash Qualified dividends are those dividends reported on Form 1040, line 9b, or Form 1040NR, line 10b, and are eligible for lower tax rates that apply to a net capital gain. Myfreetaxes com baltimorecash For detailed information about qualified dividends, see Publication 550. Myfreetaxes com baltimorecash   If your child received qualified dividends, the amount of these dividends that is added to your income must be reported on Form 1040, lines 9a and 9b, or Form 1040NR, lines 10a and 10b. Myfreetaxes com baltimorecash You do not include these dividends on Form 8814, line 12, or on line 21 of Form 1040 or Form 1040NR. Myfreetaxes com baltimorecash   Enter the child's qualified dividends on Form 8814, line 2b. Myfreetaxes com baltimorecash But do not include this amount on Form 1040, lines 9a and 9b, or Form 1040NR, lines 10a and 10b. Myfreetaxes com baltimorecash Instead, include the amount from Form 8814, line 9, on Form 1040, lines 9a and 9b, or Form 1040NR, lines 10a and 10b. Myfreetaxes com baltimorecash (The amount on Form 8814, line 9, may be less than the amount on Form 8814, line 2b, because lines 7 through 12 of the form divide the $2,000 base amount on Form 8814, line 5, between the child's qualified dividends, capital gain distributions, and other interest and dividend income, reducing each of those amounts. Myfreetaxes com baltimorecash ) Capital gain distributions. Myfreetaxes com baltimorecash   Enter on Form 8814, line 3, any capital gain distributions your child received. Myfreetaxes com baltimorecash The amount of these distributions that is added to your income must be reported on Schedule D (Form 1040), line 13, or, if you are not required to file Schedule D, on Form 1040, line 13, or Form 1040NR, line 14. Myfreetaxes com baltimorecash You do not include it on Form 8814, line 12, or on line 21 of Form 1040 or Form 1040NR. Myfreetaxes com baltimorecash   Include the amount from Form 8814, line 10, on Schedule D, line 13; Form 1040, line 13; or Form 1040NR, line 14, whichever applies. Myfreetaxes com baltimorecash (The amount on Form 8814, line 10, may be less than the amount on Form 8814, line 3, because lines 7 through 12 of the form divide the $2,000 base amount on Form 8814, line 5, between the child's qualified dividends, capital gain distributions, and other interest and dividend income, reducing each of those amounts. Myfreetaxes com baltimorecash ) Collectibles (28% rate) gain. Myfreetaxes com baltimorecash    If any of the child's capital gain distributions are reported on Form 1099-DIV as collectibles (28% rate) gain, you must determine how much to also include on line 4 of the 28% Rate Gain Worksheet, in the instructions for Schedule D, line 18. Myfreetaxes com baltimorecash Multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. Myfreetaxes com baltimorecash The numerator is the part of the child's total capital gain distribution that is collectibles (28% rate) gain. Myfreetaxes com baltimorecash The denominator is the child's total capital gain distribution. Myfreetaxes com baltimorecash Enter the result on line 4 of the 28% Rate Gain Worksheet. Myfreetaxes com baltimorecash Unrecaptured section 1250 gain. Myfreetaxes com baltimorecash   If any of the child's capital gain distributions are reported on Form 1099-DIV as unrecaptured section 1250 gain, you must determine how much to include on line 11 of the Unrecaptured Section 1250 Gain Worksheet in the instructions for Schedule D, line 19. Myfreetaxes com baltimorecash Multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. Myfreetaxes com baltimorecash The numerator is the part of the child's total capital gain distribution that is unrecaptured section 1250 gain. Myfreetaxes com baltimorecash The denominator is the child's total capital gain distribution. Myfreetaxes com baltimorecash Enter the result on the Unrecaptured Section 1250 Gain Worksheet, line 11. Myfreetaxes com baltimorecash Section 1202 gain. Myfreetaxes com baltimorecash   If any of the child's capital gain distributions are reported as section 1202 gain (gain on qualified small business stock) on Form 1099-DIV, part or all of that gain may be eligible for the section 1202 exclusion. Myfreetaxes com baltimorecash (For information about the exclusion, see chapter 4 of Publication 550. Myfreetaxes com baltimorecash ) To figure that part, multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. Myfreetaxes com baltimorecash The numerator is the part of the child's total capital gain distribution that is section 1202 gain. Myfreetaxes com baltimorecash The denominator is the child's total capital gain distribution. Myfreetaxes com baltimorecash Your section 1202 exclusion is generally 50% of the result, but may be subject to a limit. Myfreetaxes com baltimorecash In some cases, the exclusion is more than 50%. Myfreetaxes com baltimorecash See the instructions for Schedule D for details and information on how to report the exclusion amount. Myfreetaxes com baltimorecash Example. Myfreetaxes com baltimorecash Fred is 6 years old. Myfreetaxes com baltimorecash In 2013, he received dividend income of $2,100, which included $1,575 of ordinary dividends and a $525 capital gain distribution from a mutual fund. Myfreetaxes com baltimorecash (None of the distributions were reported on Form 1099-DIV as unrecaptured section 1250 gain, section 1202 gain, or collectibles (28% rate) gain. Myfreetaxes com baltimorecash ) All of the ordinary dividends are qualified dividends. Myfreetaxes com baltimorecash He has no other income and is not subject to backup withholding. Myfreetaxes com baltimorecash No estimated tax payments were made under his name and social security number. Myfreetaxes com baltimorecash Fred's parents elect to include Fred's income on their tax return instead of filing a return for him. Myfreetaxes com baltimorecash They figure the amount to report on Form 1040, lines 9a and 9b, the amount to report on their Schedule D, line 13, and the amount to report on Form 1040, line 21, as follows. Myfreetaxes com baltimorecash They leave lines 1a and 1b of Form 8814 blank because Fred does not have any interest income. Myfreetaxes com baltimorecash They enter his ordinary dividends of $1,575 on lines 2a and 2b because all of Fred's ordinary dividends are qualified dividends. Myfreetaxes com baltimorecash They enter the amount of Fred's capital gain distributions, $525, on line 3. Myfreetaxes com baltimorecash Next, they add the amounts on lines 1a, 2a, and 3 and enter the result, $2,100, on line 4. Myfreetaxes com baltimorecash They subtract the base amount on line 5, $2,000, from the amount on line 4, $2,100, and enter the result, $100, on line 6. Myfreetaxes com baltimorecash This is the total amount from Form 8814 to be reported on their return. Myfreetaxes com baltimorecash Next, they figure how much of this amount is qualified dividends and how much is capital gain distributions. Myfreetaxes com baltimorecash They divide the amount on line 2b, $1,575, by the amount on line 4, $2,100. Myfreetaxes com baltimorecash They enter the result, . Myfreetaxes com baltimorecash 75, on line 7. Myfreetaxes com baltimorecash They divide the amount on line 3, $525, by the amount on line 4, $2,100. Myfreetaxes com baltimorecash They enter the result, . Myfreetaxes com baltimorecash 25, on line 8. Myfreetaxes com baltimorecash They multiply the amount on line 6, $100, by the decimal on line 7, . Myfreetaxes com baltimorecash 75, and enter the result, $75, on line 9. Myfreetaxes com baltimorecash They multiply the amount on line 6, $100, by the decimal on line 8, . Myfreetaxes com baltimorecash 25, and enter the result, $25, on line 10. Myfreetaxes com baltimorecash They include the amount from line 9, $75, on lines 9a and 9b of their Form 1040 and enter “Form 8814 – $75” on the dotted lines next to lines 9a and 9b. Myfreetaxes com baltimorecash They include the amount from line 10, $25, on line 13 of their Schedule D (Form 1040) and enter “Form 8814 – $25” on the dotted line next to Schedule D, line 13. Myfreetaxes com baltimorecash They enter $100 ($75 + $25) on line 11 and -0- ($100 – $100) on line 12. Myfreetaxes com baltimorecash Because the amount on line 12 is -0-, they do not include any amount from Form 8814 on their Form 1040, line 21. Myfreetaxes com baltimorecash Figuring Additional Tax Use Form 8814, Part II, to figure the tax on the $2,000 of your child's interest and dividends that you do not include in your income. Myfreetaxes com baltimorecash This tax is added to the tax figured on your income. Myfreetaxes com baltimorecash This additional tax is the smaller of: 10% x (your child's gross income − $1,000), or $100. Myfreetaxes com baltimorecash Include the amount from line 15 of all your Forms 8814 in the total on Form 1040, line 44, or Form 1040NR, line 42. Myfreetaxes com baltimorecash Check box a on Form 1040, line 44, or Form 1040NR, line 42. Myfreetaxes com baltimorecash Tax for Certain Children Who Have Unearned Income If a child's interest, dividends, and other unearned income total more than $2,000, part of that income may be taxed at the parent's tax rate instead of the child's tax rate. Myfreetaxes com baltimorecash If the parent does not or cannot choose to include the child's income on the parent's return, use Form 8615 to figure the child's tax. Myfreetaxes com baltimorecash Attach the completed form to the child's Form 1040, Form 1040A, or Form 1040NR. Myfreetaxes com baltimorecash When Form 8615 must be filed. Myfreetaxes com baltimorecash   Form 8615 must be filed for a child if all of the following statements are true. Myfreetaxes com baltimorecash The child's unearned income was more than $2,000. Myfreetaxes com baltimorecash The child is required to file a return for 2013. Myfreetaxes com baltimorecash The child either: Was under age 18 at the end of the year, Was age 18 at the end of the year and did not have earned income that was more than half of his or her support, or Was over age 18 and under age 24 at the end of the year, was a full-time student, and did not have earned income that was more than half of his or her support. Myfreetaxes com baltimorecash At least one of the child's parents was alive at the end of 2013. Myfreetaxes com baltimorecash The child does not file a joint return for 2013. Myfreetaxes com baltimorecash These conditions are also shown in Figure 2. Myfreetaxes com baltimorecash Certain January 1 birthdays. Myfreetaxes com baltimorecash   Use the following chart to determine whether certain children with January 1 birthdays meet condition 3 under When Form 8615 must be filed. Myfreetaxes com baltimorecash IF a child was born on. Myfreetaxes com baltimorecash . Myfreetaxes com baltimorecash . Myfreetaxes com baltimorecash THEN, at the end of 2013, the child is considered to be. Myfreetaxes com baltimorecash . Myfreetaxes com baltimorecash . Myfreetaxes com baltimorecash January 1, 1996 18* January 1, 1995 19** January 1, 1990 24*** *This child is not under age 18. Myfreetaxes com baltimorecash The child meets condition 3 only if the child did not have earned income that was more than half of the child's support. Myfreetaxes com baltimorecash  **This child meets condition 3 only if the child was a full-time student who did not have earned income that was more than half of the child's support. Myfreetaxes com baltimorecash  ***Do not use Form 8615 for this child. Myfreetaxes com baltimorecash Figure 2. Myfreetaxes com baltimorecash Do You Have To Use Form 8615 To Figure Your Child's Tax? Please click here for the text description of the image. Myfreetaxes com baltimorecash Figure 2. Myfreetaxes com baltimorecash Do You Have To Use Form 8615 To Figure Your Child's Tax? Providing Parental Information (Form 8615, Lines A–C) On Form 8615, lines A and B, enter the parent's name and social security number. Myfreetaxes com baltimorecash (If the parents filed a joint return, enter the name and social security number listed first on the joint return. Myfreetaxes com baltimorecash ) On line C, check the box for the parent's filing status. Myfreetaxes com baltimorecash See Which Parent's Return To Use, earlier, for information on which parent's return information must be used on Form 8615. Myfreetaxes com baltimorecash Parent with different tax year. Myfreetaxes com baltimorecash   If the parent and the child do not have the same tax year, complete Form 8615 using the information on the parent's return for the tax year that ends in the child's tax year. Myfreetaxes com baltimorecash Example. Myfreetaxes com baltimorecash Kimberly must use her mother's tax and taxable income to complete her Form 8615 for calendar year 2013 (January 1 – December 31). Myfreetaxes com baltimorecash Kimberly's mother files her tax return on a fiscal year basis (July 1 – June 30). Myfreetaxes com baltimorecash Kimberly must use the information on her mother's return for the tax year ending June 30, 2013, to complete her 2013 Form 8615. Myfreetaxes com baltimorecash Parent's return information not known timely. Myfreetaxes com baltimorecash   If the information needed from the parent's return is not known by the time the child's return is due (usually April 15), you can file the return using estimates. Myfreetaxes com baltimorecash   You can use any reasonable estimate. Myfreetaxes com baltimorecash This includes using information from last year's return. Myfreetaxes com baltimorecash If you use an estimated amount on Form 8615, enter “Estimated” on the line next to the amount. Myfreetaxes com baltimorecash   When you get the correct information, file an amended return on Form 1040X, Amended U. Myfreetaxes com baltimorecash S. Myfreetaxes com baltimorecash Individual Income Tax Return. Myfreetaxes com baltimorecash Extension of time to file. Myfreetaxes com baltimorecash   Instead of using estimates, you can get an automatic 6-month extension of time to file if, by the date your return is due, you file Form 4868, Application for Automatic Extension of Time To File U. Myfreetaxes com baltimorecash S. Myfreetaxes com baltimorecash Individual Income Tax Return. Myfreetaxes com baltimorecash See the instructions for Form 4868 for details. Myfreetaxes com baltimorecash    An extension of time to file is not an extension of time to pay. Myfreetaxes com baltimorecash You must make an accurate estimate of the tax for 2013. Myfreetaxes com baltimorecash If you do not pay the full amount due by the regular due date, the child will owe interest and may also be charged penalties. Myfreetaxes com baltimorecash See Form 4868 and its instructions. Myfreetaxes com baltimorecash Parent's return information not available. Myfreetaxes com baltimorecash   If a child cannot get the required information about his or her parent's tax return, the child (or the child's legal representative) can request the necessary information from the Internal Revenue Service (IRS). Myfreetaxes com baltimorecash How to request. Myfreetaxes com baltimorecash   After the end of the tax year, send a signed, written request for the information to the Internal Revenue Service Center where the parent's return will be filed. Myfreetaxes com baltimorecash (The IRS cannot process a request received before the end of the tax year. Myfreetaxes com baltimorecash )    You should also consider getting an extension of time to file the child's return, because there may be a delay in getting the requested information. Myfreetaxes com baltimorecash   The request must contain all of the following. Myfreetaxes com baltimorecash A statement that you are making the request to comply with section 1(g) of the Internal Revenue Code and that you have tried to get the information from the parent. Myfreetaxes com baltimorecash Proof of the child's age (for example, a copy of the child's birth certificate). Myfreetaxes com baltimorecash Evidence the child has more than $2,000 of unearned income (for example, a copy of the child's prior year tax return or copies of Forms 1099 for the current year). Myfreetaxes com baltimorecash The name, address, social security number (if known), and filing status (if known) of the parent whose information is to be shown on Form 8615. Myfreetaxes com baltimorecash    A child's legal representative making the request should include a copy of his or her Power of Attorney, such as Form 2848, or proof of legal guardianship. Myfreetaxes com baltimorecash Step 1. Myfreetaxes com baltimorecash Figuring the Child's Net Unearned Income (Form 8615, Part I) The first step in figuring a child's tax using Form 8615 is to figure the child's net unearned income. Myfreetaxes com baltimorecash To do that, use Form 8615, Part I. Myfreetaxes com baltimorecash Line 1 (Unearned Income) If the child had no earned income, enter on this line the adjusted gross income shown on the child's return. Myfreetaxes com baltimorecash Adjusted gross income is shown on Form 1040, line 38; Form 1040A, line 22; or Form 1040NR, line 37. Myfreetaxes com baltimorecash Form 1040EZ and Form 1040NR-EZ cannot be used if Form 8615 must be filed. Myfreetaxes com baltimorecash If the child had earned income, figure the amount to enter on Form 8615, line 1, by using the worksheet in the instructions for the form. Myfreetaxes com baltimorecash However, use the following worksheet if: the child has excluded any foreign earned income, deducted a loss from self-employment, or has a net operating loss from another year. Myfreetaxes com baltimorecash Alternate Worksheet for Form 8615, Line 1 A. Myfreetaxes com baltimorecash Enter the amount from the child's Form 1040, line 22, or Form 1040NR, line 23   B. Myfreetaxes com baltimorecash Enter the total of any net loss  from self-employment, any net operating loss deduction, any foreign earned income exclusion, and any foreign housing exclusion from the child's Form 1040 or Form 1040NR. Myfreetaxes com baltimorecash Enter this total as a positive number (greater than zero)   C. Myfreetaxes com baltimorecash Add line A and line B and  enter the total   D. Myfreetaxes com baltimorecash Enter the child's earned income plus any amount from the child's Form 1040, line 30, or the child's Form 1040NR, line 30     Generally, the child's earned income is the total of the amounts reported on Form 1040, lines 7, 12, and 18 (if line 12 or 18 is a loss, use zero) or Form 1040NR, lines 8, 13, and 19 (if line 13 or 19 is a loss, use zero)   E. Myfreetaxes com baltimorecash Subtract line D from line C. Myfreetaxes com baltimorecash Enter the result here and on Form 8615, line 1   Unearned income defined. Myfreetaxes com baltimorecash   Unearned income is generally all income other than salaries, wages, and other amounts received as pay for work actually performed. Myfreetaxes com baltimorecash It includes taxable interest, dividends, capital gains (including capital gain distributions), the taxable part of social security and pension payments, certain distributions from trusts, and unemployment compensation. Myfreetaxes com baltimorecash Unearned income includes amounts produced by assets the child obtained with earned income (such as interest on a savings account into which the child deposited wages). Myfreetaxes com baltimorecash Nontaxable income. Myfreetaxes com baltimorecash   For this purpose, unearned income includes only amounts the child must include in gross income. Myfreetaxes com baltimorecash Nontaxable unearned income, such as tax-exempt interest and the nontaxable part of social security and pension payments, is not included. Myfreetaxes com baltimorecash Capital loss. Myfreetaxes com baltimorecash   A child's capital losses are taken into account in figuring the child's unearned income. Myfreetaxes com baltimorecash Capital losses are first applied against capital gains. Myfreetaxes com baltimorecash If the capital losses are more than the capital gains, the difference (up to $3,000) is subtracted from the child's interest, dividends, and other unearned income. Myfreetaxes com baltimorecash Any difference over $3,000 is carried to the next year. Myfreetaxes com baltimorecash Income from property received as a gift. Myfreetaxes com baltimorecash   A child's unearned income includes all income produced by property belonging to the child. Myfreetaxes com baltimorecash This is true even if the property was transferred to the child, regardless of when the property was transferred or purchased or who transferred it. Myfreetaxes com baltimorecash   A child's unearned income includes income produced by property given as a gift to the child. Myfreetaxes com baltimorecash This includes gifts to the child from grandparents or any other person and gifts made under the Uniform Gift to Minors Act. Myfreetaxes com baltimorecash Example. Myfreetaxes com baltimorecash Amanda Black, age 13, received the following income. Myfreetaxes com baltimorecash Dividends—$800 Wages—$2,100 Taxable interest—$1,200 Tax-exempt interest—$100 Capital gains—$300 Capital losses—($200) The dividends were qualified dividends on stock given to her by her grandparents. Myfreetaxes com baltimorecash Amanda's unearned income is $2,100. Myfreetaxes com baltimorecash This is the total of the dividends ($800), taxable interest ($1,200), and capital gains reduced by capital losses ($300 − $200 = $100). Myfreetaxes com baltimorecash Her wages are earned (not unearned) income because they are received for work actually performed. Myfreetaxes com baltimorecash Her tax-exempt interest is not included because it is nontaxable. Myfreetaxes com baltimorecash Trust income. Myfreetaxes com baltimorecash   If a child is the beneficiary of a trust, distributions of taxable interest, dividends, capital gains, and other unearned income from the trust are unearned income to the child. Myfreetaxes com baltimorecash   However, taxable distributions from a qualified disability trust are considered earned income for the purposes of completing Form 8615. Myfreetaxes com baltimorecash See the Form 8615 instructions for details. Myfreetaxes com baltimorecash Adjustment to income. Myfreetaxes com baltimorecash   In figuring the amount to enter on line 1, the child's unearned income is reduced by any penalty on the early withdrawal of savings. Myfreetaxes com baltimorecash Line 2 (Deductions) If the child does not itemize deductions on Schedule A (Form 1040 or Form 1040NR), enter $2,000 on line 2. Myfreetaxes com baltimorecash If the child itemizes deductions, enter on line 2 the larger of: $1,000 plus the portion of the child's itemized deductions on Schedule A (Form 1040), line 29 (or Schedule A (Form 1040NR), line 15), that are directly connected with the production of the unearned income entered on line 1, or $2,000. Myfreetaxes com baltimorecash Directly connected. Myfreetaxes com baltimorecash   Itemized deductions are directly connected with the production of unearned income if they are for expenses paid to produce or collect taxable income or to manage, conserve, or maintain property held for producing income. Myfreetaxes com baltimorecash These expenses include custodian fees and service charges, service fees to collect taxable interest and dividends, and certain investment counsel fees. Myfreetaxes com baltimorecash    These expenses are added to certain other miscellaneous itemized deductions on Schedule A (Form 1040). Myfreetaxes com baltimorecash Only the amount greater than 2% of the child's adjusted gross income can be deducted. Myfreetaxes com baltimorecash See Publication 529, Miscellaneous Deductions, for more information. Myfreetaxes com baltimorecash Example 1. Myfreetaxes com baltimorecash Roger, age 12, has unearned income of $8,000, no other income, no adjustments to income, and itemized deductions of $300 (net of the 2%-of-adjusted-gross-income limit) that are directly connected with his unearned income. Myfreetaxes com baltimorecash His adjusted gross income is $8,000, which is entered on Form 1040, line 38, and on Form 8615, line 1. Myfreetaxes com baltimorecash Roger enters $2,000 on line 2 because that is more than the total of $1,000 plus his directly-connected itemized deductions of $300. Myfreetaxes com baltimorecash Example 2. Myfreetaxes com baltimorecash Eleanor, age 8, has unearned income of $16,000 and an early withdrawal penalty of $100. Myfreetaxes com baltimorecash She has no other income. Myfreetaxes com baltimorecash She has itemized deductions of $1,050 (net of the 2%-of-adjusted-gross-income limit) that are directly connected with the production of her unearned income. Myfreetaxes com baltimorecash Her adjusted gross income, entered on line 1, is $15,900 ($16,000 − $100). Myfreetaxes com baltimorecash The amount on line 2 is $2,050. Myfreetaxes com baltimorecash This is the larger of: $1,000 plus the $1,050 of directly connected itemized deductions, or $2,000. Myfreetaxes com baltimorecash Line 3 Subtract line 2 from line 1 and enter the result on this line. Myfreetaxes com baltimorecash If zero or less, do not complete the rest of the form. Myfreetaxes com baltimorecash However, you must still attach Form 8615 to the child's tax return. Myfreetaxes com baltimorecash Figure the tax on the child's taxable income in the normal manner. Myfreetaxes com baltimorecash Line 4 (Child's Taxable Income) Enter on line 4 the child's taxable income from Form 1040, line 43; Form 1040A, line 27; or Form 1040NR, line 41. Myfreetaxes com baltimorecash Child files Form 2555 or 2555-EZ. Myfreetaxes com baltimorecash   If the child files Form 2555 or 2555-EZ to claim the foreign earned income exclusion, housing exclusion, or housing deduction, the Foreign Earned Income Tax Worksheet (in the Form 1040 instructions) is used to figure the child's tax. Myfreetaxes com baltimorecash Enter the amount from line 3 of the Foreign Earned Income Tax Worksheet as the child's taxable income on Form 8615, line 4. Myfreetaxes com baltimorecash Line 5 (Net Unearned Income) A child's net unearned income cannot be more than his or her taxable income. Myfreetaxes com baltimorecash Enter on Form 8615, line 5, the smaller of line 3 or line 4. Myfreetaxes com baltimorecash This is the child's net unearned income. Myfreetaxes com baltimorecash If zero or less, do not complete the rest of the form. Myfreetaxes com baltimorecash However, you must still attach Form 8615 to the child's tax return. Myfreetaxes com baltimorecash Figure the tax on the child's taxable income in the normal manner. Myfreetaxes com baltimorecash Step 2. Myfreetaxes com baltimorecash Figuring a Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) The next step in completing Form 8615 is to figure a tentative tax on the child's net unearned income at the parent's tax rate. Myfreetaxes com baltimorecash The tentative tax at the parent's tax rate is the difference between the tax on the parent's taxable income figured with the child's net unearned income (plus the net unearned income of any other child whose Form 8615 includes the tax return information of that parent) and the tax figured without it. Myfreetaxes com baltimorecash When figuring the tentative tax at the parent's tax rate on Form 8615, do not refigure any of the exclusions, deductions, or credits on the parent's return because of the child's net unearned income. Myfreetaxes com baltimorecash For example, do not refigure the medical expense deduction. Myfreetaxes com baltimorecash Figure the tentative tax on Form 8615, lines 6 through 13. Myfreetaxes com baltimorecash Line 6 (Parent's Taxable Income) Enter on line 6 the amount from the parent's Form 1040, line 43; Form 1040A, line 27; Form 1040EZ, line 6; Form 1040NR, line 41; or Form 1040NR-EZ, line 14. Myfreetaxes com baltimorecash If the parent's taxable income is zero or less, enter zero on line 6. Myfreetaxes com baltimorecash Parent files Form 2555 or 2555-EZ. Myfreetaxes com baltimorecash   If the parent files Form 2555 or 2555-EZ to claim the foreign earned income exclusion, housing exclusion, or housing deduction, the Foreign Earned Income Tax Worksheet in the Form 1040 instructions is used to figure the parent's tax. Myfreetaxes com baltimorecash Enter the amount from line 3 of the Foreign Earned Income Tax Worksheet as the parent's taxable income, on line 6 of Form 8615. Myfreetaxes com baltimorecash Line 7 (Net Unearned Income of Other Children) If the tax return information of the parent is also used on any other child's Form 8615, enter on line 7 the total of the amounts from line 5 of all the other children's Forms 8615. Myfreetaxes com baltimorecash Do not include the amount from line 5 of the Form 8615 being completed. Myfreetaxes com baltimorecash (The term “other child” means any other child whose Form 8615 uses the tax information of the parent identified on Lines A and B of Form 8615. Myfreetaxes com baltimorecash ) Example. Myfreetaxes com baltimorecash Paul and Jane Persimmon have three children, Sharon, Jerry, and Mike, who must attach Form 8615 to their tax returns. Myfreetaxes com baltimorecash The children's net unearned income amounts on line 5 of their Forms 8615 are: Sharon—$800 Jerry—$600 Mike—$1,000 Line 7 of Sharon's Form 8615 will show $1,600, the total of the amounts on line 5 of Jerry's and Mike's Forms 8615. Myfreetaxes com baltimorecash Line 7 of Jerry's Form 8615 will show $1,800 ($800 + $1,000). Myfreetaxes com baltimorecash Line 7 of Mike's Form 8615 will show $1,400 ($800 + $600). Myfreetaxes com baltimorecash Other children's information not available. Myfreetaxes com baltimorecash   If the net unearned income of the other children is not available when the return is due, either file the return using estimates or get an extension of time to file. Myfreetaxes com baltimorecash Estimates and extensions are discussed earlier under Providing Parental Information (Form 8615, Lines A–C) . Myfreetaxes com baltimorecash Line 8 (Parent's Taxable Income Plus Children's Net Unearned Income) Enter on this line the total of lines 5, 6, and 7. Myfreetaxes com baltimorecash You must determine the amount of net capital gain and qualified dividends included on this line before completing Form 8615, line 9. Myfreetaxes com baltimorecash Net capital gain. Myfreetaxes com baltimorecash   Net capital gain is the smaller of the gain, if any, on Schedule D (Form 1040), line 15, or the gain, if any, on Schedule D, line 16. Myfreetaxes com baltimorecash If Schedule D is not required, it is the amount on Form 1040, line 13; Form 1040A, line 10; or Form 1040NR, line 14. Myfreetaxes com baltimorecash Qualified dividends. Myfreetaxes com baltimorecash   Qualified dividends are those dividends reported on line 9b of Form 1040 or Form 1040A, or line 10b of Form 1040NR. Myfreetaxes com baltimorecash Net capital gain and qualified dividends on line 8. Myfreetaxes com baltimorecash   If neither the child, nor the parent, nor any other child has net capital gain, the net capital gain on line 8 is zero. Myfreetaxes com baltimorecash   If neither the child, nor the parent, nor any other child has qualified dividends, the amount of qualified dividends on line 8 is zero. Myfreetaxes com baltimorecash   If the child, parent, or any other child has net capital gain, figure the amount of net capital gain included on line 8 by adding together the net capital gain amounts included on lines 5, 6, and 7 of Form 8615. Myfreetaxes com baltimorecash   If the child, parent, or any other child has qualified dividends, figure the amount of qualified dividends included on line 8 by adding together the qualified dividend amounts included on lines 5, 6, and 7. Myfreetaxes com baltimorecash   Use the instructions for Form 8615, line 8, including the appropriate Line 5 Worksheet, to find these amounts. Myfreetaxes com baltimorecash See the instructions for Form 8615 for more details. Myfreetaxes com baltimorecash Note. Myfreetaxes com baltimorecash The amount of any net capital gain or qualified dividends is not separately reported on line 8. Myfreetaxes com baltimorecash It is  needed, however, when figuring the tax on line 9. Myfreetaxes com baltimorecash Line 9 (Tax on Parent's Taxable Income Plus Children's Net Unearned Income) Figure the tax on the amount on line 8 using the Tax Table, the Tax Computation Worksheet, the Qualified Dividends and Capital Gain Tax Worksheet (in the Form 1040, 1040A, or 1040NR instructions), the Schedule D Tax Worksheet (in the Schedule D instructions), or Schedule J (Form 1040), as follows. Myfreetaxes com baltimorecash If line 8 does not include any net capital gain or qualified dividends, use the Tax Table or Tax Computation Worksheet to figure this tax. Myfreetaxes com baltimorecash But if Schedule J, Income Averaging for Farmers and Fishermen, is used to figure the tax on the parent's return, use it to figure this tax. Myfreetaxes com baltimorecash If line 8 includes any net capital gain or qualified dividends, use the Qualified Dividends and Capital Gain Tax Worksheet to figure this tax. Myfreetaxes com baltimorecash For details, see the instructions for Form 8615, line 9. Myfreetaxes com baltimorecash However, if the child, parent, or any other child has 28% rate gain or unrecaptured section 1250 gain, use the Schedule D Tax Worksheet. Myfreetaxes com baltimorecash But if Schedule J is used to figure the tax on the parent's return, use it to figure this tax. Myfreetaxes com baltimorecash Child files Form 2555 or 2555-EZ. Myfreetaxes com baltimorecash   If line 8 includes any net capital gain or qualified dividends and the child, or any other child filing Form 8615, also files Form 2555 or 2555-EZ, use Using the Schedule D Tax Worksheet for line 9 tax, next, to figure the line 9 tax. Myfreetaxes com baltimorecash Using the Schedule D Tax Worksheet for line 9 tax. Myfreetaxes com baltimorecash    Use the Schedule D Tax Worksheet (in the Schedule D instructions) to figure the line 9 tax on Form 8615 if the child, parent, or any other child has unrecaptured section 1250 gain or 28% rate gain. Myfreetaxes com baltimorecash If you must use the Schedule D Tax Worksheet, first complete any Schedule D and any actual Schedule D Tax Worksheet required for the child, parent, or any other child. Myfreetaxes com baltimorecash Then figure the line 9 tax using another Schedule D Tax Worksheet. Myfreetaxes com baltimorecash (Do not attach this Schedule D Tax Worksheet to the child's return. Myfreetaxes com baltimorecash )   Complete this Schedule D Tax Worksheet as follows. Myfreetaxes com baltimorecash On line 1, enter the amount from Form 8615, line 8. Myfreetaxes com baltimorecash On line 2, enter the qualified dividends included on Form 8615, line 8. Myfreetaxes com baltimorecash (See the earlier discussion for line 8. Myfreetaxes com baltimorecash ) On line 3, enter the total of the amounts, if any, on line 4g of all Forms 4952 filed by the child, parent, or any other child. Myfreetaxes com baltimorecash On line 4, enter the total of the amounts, if any, on line 4e of all Forms 4952 filed by the child, parent, or any other child. Myfreetaxes com baltimorecash If applicable, include instead the smaller amount entered on the dotted line next to line 4e. Myfreetaxes com baltimorecash On lines 5 and 6, follow the worksheet instructions. Myfreetaxes com baltimorecash On line 7, enter the net capital gain included on Form 8615, line 8. Myfreetaxes com baltimorecash (See the earlier discussion for line 8. Myfreetaxes com baltimorecash ) On lines 8 through 10, follow the worksheet instructions. Myfreetaxes com baltimorecash On line 11, enter zero if neither the child, nor the parent, nor any other child has unrecaptured section 1250 gain (Schedule D, line 19) or 28% rate gain (Schedule D, line 18). Myfreetaxes com baltimorecash Otherwise, enter the amount of unrecaptured section 1250 gain and 28% rate gain included in the net capital gain on line 8 of Form 8615. Myfreetaxes com baltimorecash Figure these amounts as explained later under Figuring unrecaptured section 1250 gain (line 11) and Figuring 28% rate gain (line 11). Myfreetaxes com baltimorecash If the Foreign Earned Income Tax Worksheet was used to figure the parent's tax or the tax of any child, go to step 10 below. Myfreetaxes com baltimorecash Otherwise, skip steps 10, 11, and 12 below, and go to step 13. Myfreetaxes com baltimorecash Determine whether there is a line 8 capital gain excess as follows. Myfreetaxes com baltimorecash Add the amounts on line 2 of all Foreign Earned Income Tax Worksheets completed by the parent or any child for whom Form 8615 is filed. Myfreetaxes com baltimorecash (But for each child do not add more than the excess, if any, of the amount on line 5 of the child's Form 8615 over the child's taxable income on Form 1040, line 43; Form 1040A, line 27; or Form 1040NR, line 41. Myfreetaxes com baltimorecash ) Subtract (a) from the amount on line 1 of this Schedule D Tax Worksheet. Myfreetaxes com baltimorecash Subtract (b) from the amount on line 10 of this Schedule D Tax Worksheet. Myfreetaxes com baltimorecash If the result is more than zero, that amount is the line 8 capital gain excess. Myfreetaxes com baltimorecash If the result is zero or less, there is no line 8 capital gain excess. Myfreetaxes com baltimorecash If there is no line 8 capital gain excess, skip step 12 below and go to step 13. Myfreetaxes com baltimorecash If there is a line 8 capital gain excess, complete a second Schedule D Tax Worksheet as instructed above and in step 13, but in its entirety and with the following additional modifications. Myfreetaxes com baltimorecash (These modifications are to be made only for purposes of filling out this additional Schedule D Tax Worksheet. Myfreetaxes com baltimorecash ) Reduce the amount you would otherwise enter on line 9 (but not below zero) by the line 8 capital gain excess. Myfreetaxes com baltimorecash Reduce the amount you would otherwise enter on line 6 (but not below zero) by any of the line 8 capital gain excess not used in (a) above. Myfreetaxes com baltimorecash If the child, parent, or any other child has 28% rate gain, reduce the amount you would otherwise enter on line 8 of Worksheet 1 for Line 11 of the Schedule D Tax Worksheet – 28% Rate Gain (Line 9 Tax), shown later, (but not below zero) by the line 8 capital gain excess, and refigure the amount on line 11 of this Schedule D Tax Worksheet. Myfreetaxes com baltimorecash If the child, parent, or any other child has unrecaptured section 1250 gain, reduce the amount you would otherwise enter on line 8 of Worksheet 2 for Line 11 of the Schedule D Tax Worksheet – Unrecaptured Section 1250 Gain (Line 9 Tax) (but not below zero) by the line 8 capital gain excess not used in 12(c), and refigure the amount on line 11 of this Schedule D Tax Worksheet. Myfreetaxes com baltimorecash Complete lines 12 through 45 following the worksheet instructions. Myfreetaxes com baltimorecash Use the parent's filing status to complete lines 15, 42, and 44. Myfreetaxes com baltimorecash Enter the amount from line 45 of this Schedule D Tax Worksheet on Form 8615, line 9, and check the box on that line