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Download 1040ez Form

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Download 1040ez Form

Download 1040ez form 1. Download 1040ez form   Organizations Subject to the Tax Table of Contents The tax on unrelated business income applies to most organizations exempt from tax under section 501(a). Download 1040ez form These organizations include charitable, religious, scientific, and other organizations described in section 501(c), as well as employees' trusts forming part of pension, profit-sharing, and stock bonus plans described in section 401(a). Download 1040ez form In addition, the following are subject to the tax on unrelated business income. Download 1040ez form Individual retirement arrangements (IRAs), including traditional IRAs, Roth IRAs, Coverdell IRAs, simplified employee pensions (SEP-IRAs), and savings incentive match plans for employees (SIMPLE IRAs). Download 1040ez form State and municipal colleges and universities. Download 1040ez form Qualified state tuition programs. Download 1040ez form Medical savings accounts (MSAs) described in section 220(d). Download 1040ez form Coverdell savings accounts described in section 530. Download 1040ez form U. Download 1040ez form S. Download 1040ez form instrumentalities. Download 1040ez form   A corporation that is a U. Download 1040ez form S. Download 1040ez form instrumentality described in section 501(c)(1) is not subject to the tax on unrelated business income if the corporation is organized under an Act of Congress and, under the Act, is exempt from federal income taxes. Download 1040ez form Colleges and universities. Download 1040ez form   Colleges and universities that are agencies or instrumentalities of any government or any political subdivision of a government, or that are owned or operated by a government or political subdivision of a government, are subject to the tax on unrelated business income. Download 1040ez form As used here, the word government includes any foreign government (to the extent not contrary to a treaty) and all domestic governments (the United States and any of its possessions, any state, and the District of Columbia). Download 1040ez form   The tax is on the unrelated business income of both the universities and colleges themselves and on their wholly owned tax exempt subsidiary organizations. Download 1040ez form It is immaterial whether the business is conducted by the university or by a separately incorporated wholly owned subsidiary. Download 1040ez form If the business activity is unrelated, the income in both instances will be subject to the tax. Download 1040ez form If the primary purpose of a wholly owned subsidiary is to operate or conduct any unrelated trade or business (other than holding title to property and collecting income from it), the subsidiary is not an exempt organization, and this rule does not apply. Download 1040ez form Title-holding corporations. Download 1040ez form   When an exempt title-holding corporation, described in section 501(c)(2), pays any of its net income to an organization that itself is exempt from tax under section 501(a) (or would pay such an amount except that the expenses of collecting its income exceed the amount collected) and files a consolidated return with that organization, the title-holding corporation is treated, for unrelated business income tax purposes, as organized and operated for the same purposes as the exempt payee organization. Download 1040ez form   Thus, a title-holding corporation whose source of income is related to the exempt purposes of the payee organization is not subject to the unrelated business income tax if the holding corporation and the payee organization file a consolidated return. Download 1040ez form However, if the source of the income is not so related, the title-holding corporation is subject to unrelated business income tax. Download 1040ez form Example. Download 1040ez form X, a title-holding corporation, is required to distribute its net income to A, an exempt organization. Download 1040ez form During the tax year, X realizes net income of $900,000 from source M, which is related to A's exempt function. Download 1040ez form X also receives $100,000 from source N, which is not related to A's exempt function. Download 1040ez form X and A file a consolidated return for the tax year. Download 1040ez form X has unrelated business income of $100,000. Download 1040ez form Prev  Up  Next   Home   More Online Publications
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Know Your Rights

The Federal Deposit Insurance Corporation and other federal regulators require banks, insurance companies, brokerage firms and certain businesses who share financial information to tell you their privacy policies. They must give you this information when you open an account, and at least once every year after. They must include:

  • the kinds of information being collected;
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  • what types of businesses may be provided this information.

If a business is going to share the information with anyone outside its corporate family, it must also give you the chance to "opt-out" or say no to information sharing. Even if you don't opt out, your actual account numbers may not be shared with third parties for marketing purposes.

You cannot prevent certain types of information from being shared, including information needed to conduct normal business or protect against fraud, or information that is already publicly available. Also, a bank can share your information with a partner company to market products.

Your credit information has additional privacy protections under the Fair Credit Reporting Act. Only people with a legitimate business need can get a copy of your report. An employer can only get your report with your written consent. For more information on your rights under this federal law and to find out how you can get a copy of your credit report, visit the Credit Bureaus and Credit Scores section.

If Your Wallet is Lost or Stolen

Your wallet contains some of your most important personal items, from hard-earned money to credit cards and driver’s license. For an identity thief, your wallet offers a treasure trove of personal information. If your wallet is lost or stolen:

  • File a report with the police immediately.
  • Cancel your credit and debit cards and request new cards and account numbers.
  • Report the missing cards to the major credit reporting agencies.
  • Report your missing license to the department of motor vehicles.

Check with the Federal Trade Commission for more information on protecting your privacy

The Download 1040ez Form

Download 1040ez form Publication 929 - Main Content Table of Contents Part 1. Download 1040ez form 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. Download 1040ez form Designated as representative. Download 1040ez form IRS notice. Download 1040ez form Standard DeductionStandard Deduction of Zero Dependent's Own Exemption Withholding From WagesExceptions. Download 1040ez form Part 2. Download 1040ez form 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. Download 1040ez form Figuring the Child's Net Unearned Income (Form 8615, Part I) Step 2. Download 1040ez form Figuring a Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) Step 3. Download 1040ez form Figuring the Child's Tax (Form 8615, Part III) Alternative Minimum Tax Illustrated Example Part 1. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form See Other Filing Requirements, later. Download 1040ez form The following sections apply to dependents with: Earned income only, Unearned income only, and Both earned and unearned income. Download 1040ez form  To find out whether a dependent must file, read the section that applies, or use Table 1. Download 1040ez form 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. Download 1040ez form 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). Download 1040ez form Example. Download 1040ez form William is 16. Download 1040ez form His mother claims an exemption for him on her income tax return. Download 1040ez form He worked part time on weekends during the school year and full time during the summer. Download 1040ez form He earned $7,000 in wages. Download 1040ez form He did not have any unearned income. Download 1040ez form He must file a tax return because he has earned income only and his gross income is more than $6,100. Download 1040ez form If he is blind, he does not have to file a return because his gross income is not more than $7,600. Download 1040ez form 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. Download 1040ez form 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). Download 1040ez form Example. Download 1040ez form Sarah is 18 and single. Download 1040ez form Her parents can claim an exemption for her on their income tax return. Download 1040ez form She received $1,970 of taxable interest and dividend income. Download 1040ez form She did not work during the year. Download 1040ez form She must file a tax return because she has unearned income only and her gross income is more than $1,000. Download 1040ez form 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. Download 1040ez form Election to report child's unearned income on parent's return. Download 1040ez form   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. Download 1040ez form See Parent's Election To Report Child's Interest and Dividends in Part 2. Download 1040ez form If the parent makes this election, the child does not have to file a return. Download 1040ez form 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. Download 1040ez form Filing Requirement Worksheet for Most Dependents 1. Download 1040ez form Enter dependent's earned income plus $350     2. Download 1040ez form Minimum amount   $1,000 3. Download 1040ez form Compare lines 1 and 2. Download 1040ez form Enter the larger amount     4. Download 1040ez form Maximum amount   6,100 5. Download 1040ez form Compare lines 3 and 4. Download 1040ez form Enter the smaller amount     6. Download 1040ez form Enter the dependent's gross income. Download 1040ez form If line 6 is more than line 5, the dependent must file an income tax return. Download 1040ez form 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. Download 1040ez form       Table 1. Download 1040ez form 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. Download 1040ez form   See the definitions of “dependent,”“earned income,”“unearned income,” and “gross income” in the Glossary. Download 1040ez form   Single dependents—Were you either age 65 or older or blind?     No. Download 1040ez form You must file a return if any of the following apply. Download 1040ez form       Your unearned income was over $1,000. Download 1040ez form Your earned income was over $6,100. Download 1040ez form Your gross income was more than the larger of—       $1,000, or Your earned income (up to $5,750) plus $350. Download 1040ez form         Yes. Download 1040ez form You must file a return if any of the following apply. Download 1040ez form     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). Download 1040ez form       Married dependents—Were you either age 65 or older or blind?     No. Download 1040ez form You must file a return if any of the following apply. Download 1040ez form       Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. Download 1040ez form Your unearned income was over $1,000. Download 1040ez form Your earned income was over $6,100. Download 1040ez form Your gross income was more than the larger of—       $1,000, or Your earned income (up to $5,750) plus $350. Download 1040ez form       Yes. Download 1040ez form You must file a return if any of the following apply. Download 1040ez form       Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. Download 1040ez form 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). Download 1040ez form       Example 1. Download 1040ez form Joe is 20, single, not blind, and a full-time college student. Download 1040ez form He does not provide more than half of his own support, and his parents claim an exemption for him on their income tax return. Download 1040ez form He received $200 taxable interest income and earned $2,750 from a part-time job. Download 1040ez form 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). Download 1040ez form Filled-in Example 1 Filing Requirement Worksheet  for Most Dependents 1. Download 1040ez form Enter dependent's earned income plus $350   $ 3,100 2. Download 1040ez form Minimum amount   1,000 3. Download 1040ez form Compare lines 1 and 2. Download 1040ez form Enter the larger amount   3,100 4. Download 1040ez form Maximum amount   6,100 5. Download 1040ez form Compare lines 3 and 4. Download 1040ez form Enter the smaller amount   3,100 6. Download 1040ez form Enter the dependent's gross income. Download 1040ez form If line 6 is more than line 5, the dependent must file an income tax return. Download 1040ez form 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. Download 1040ez form   $ 2,950   Example 2. Download 1040ez form The facts are the same as in Example 1 except that Joe had $600 taxable interest income. Download 1040ez form 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). Download 1040ez form Filled-in Example 2 Filing Requirement Worksheet for Most Dependents 1. Download 1040ez form Enter dependent's earned income plus $350   $ 3,100 2. Download 1040ez form Minimum amount   1,000 3. Download 1040ez form Compare lines 1 and 2. Download 1040ez form Enter the larger amount   3,100 4. Download 1040ez form Maximum amount   6,100 5. Download 1040ez form Compare lines 3 and 4. Download 1040ez form Enter the smaller amount   3,100 6. Download 1040ez form Enter the dependent's gross income. Download 1040ez form If line 6 is more than line 5, the dependent must file an income tax return. Download 1040ez form 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. Download 1040ez form   $ 3,350   Age 65 or older or blind. Download 1040ez form 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. Download 1040ez form Filing Requirement Worksheet  for Dependents Who Are Age 65 or Older or Blind 1. Download 1040ez form Enter dependent's earned income plus $350     2. Download 1040ez form Minimum amount   $1,000 3. Download 1040ez form Compare lines 1 and 2. Download 1040ez form Enter the larger amount     4. Download 1040ez form Maximum amount   6,100 5. Download 1040ez form Compare lines 3 and 4. Download 1040ez form Enter the smaller amount     6. Download 1040ez form 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. Download 1040ez form Add lines 5 and 6. Download 1040ez form Enter the total     8. Download 1040ez form Enter the dependent's gross income. Download 1040ez form If line 8 is more than line 7, the dependent must file an income tax return. Download 1040ez form 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. Download 1040ez form The facts are the same as in Example 2 except that Joe is also blind. Download 1040ez form 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). Download 1040ez form   Filled-in Example 3 Filing Requirement Worksheet  for Dependents Who Are Age 65 or Older or Blind 1. Download 1040ez form Enter dependent's earned income plus $350   $3,100 2. Download 1040ez form Minimum amount   1,000 3. Download 1040ez form Compare lines 1 and 2. Download 1040ez form Enter the larger amount   3,100 4. Download 1040ez form Maximum amount   6,100 5. Download 1040ez form Compare lines 3 and 4. Download 1040ez form Enter the smaller amount   3,100 6. Download 1040ez form 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. Download 1040ez form Add lines 5 and 6. Download 1040ez form Enter the total   4,600 8. Download 1040ez form Enter the dependent's gross income. Download 1040ez form If line 8 is more than line 7, the dependent must file an income tax return. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form But if the dependent is filing a return only because of this tax, the dependent can file Form 5329 by itself. Download 1040ez form A dependent must also file a tax return if he or she: Had wages of $108. Download 1040ez form 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. Download 1040ez form Spouse itemizes. Download 1040ez form   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). Download 1040ez form 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. Download 1040ez form Income tax was withheld from his or her income. Download 1040ez form He or she qualifies for the earned income credit, additional child tax credit, health coverage tax credit, or refundable American opportunity education credit. Download 1040ez form See the tax return instructions to find out who qualifies for these credits. Download 1040ez form  By filing a return, the dependent can get a refund. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form Signing the child's return. Download 1040ez form   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. Download 1040ez form ” Authority of parent or guardian. Download 1040ez form   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. Download 1040ez form   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. Download 1040ez form 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. Download 1040ez form Third party designee. Download 1040ez form   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. Download 1040ez form 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. Download 1040ez form   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. Download 1040ez form 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. Download 1040ez form See the return instructions for more information. Download 1040ez form Designated as representative. Download 1040ez form   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. Download 1040ez form Form 2848, Power of Attorney and Declaration of Representative, is used to designate a child's representative. Download 1040ez form See Publication 947, Practice Before the IRS and Power of Attorney, for more information. Download 1040ez form   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. Download 1040ez form IRS notice. Download 1040ez form   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. Download 1040ez form The notice will show who to contact. Download 1040ez form The IRS will try to resolve the matter with the parent(s) or guardian(s) of the child consistent with their authority. Download 1040ez form Child's earnings. Download 1040ez form   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. Download 1040ez form This is true even if, under state law, the parent has the right to the earnings and may actually have received them. Download 1040ez form If the child does not pay the tax due on this income, the parent may be liable for the tax. Download 1040ez form Child's expenses. Download 1040ez form   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. Download 1040ez form Example. Download 1040ez form You made payments on your child's behalf that are deductible as a business expense and a charitable contribution. Download 1040ez form You made the payments out of your child's earnings. Download 1040ez form These items can be deducted only on the child's return. Download 1040ez form 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). Download 1040ez form However, the standard deduction may be higher for a dependent who: Is 65 or older, or Is blind. Download 1040ez form Certain dependents cannot claim any standard deduction. Download 1040ez form See Standard Deduction of Zero , later. Download 1040ez form Worksheet 1. Download 1040ez form   Use Worksheet 1 to figure the dependent's standard deduction. Download 1040ez form Worksheet 1. Download 1040ez form Standard Deduction Worksheet for Dependents Use this worksheet only if someone else can claim you (or your spouse, if filing jointly) as a dependent. Download 1040ez form If you were 65 or older and/or blind, check the correct number of boxes below. Download 1040ez form Put the total number of boxes checked in box c and go to line 1. Download 1040ez form a. Download 1040ez form You 65 or older   Blind   b. Download 1040ez form Your spouse, if claiming  spouse's exemption 65 or older   Blind   c. Download 1040ez form Total boxes checked         1. Download 1040ez form Enter your earned income (defined below) plus $350. Download 1040ez form If none, enter -0-. Download 1040ez form 1. Download 1040ez form     2. Download 1040ez form Minimum amount. Download 1040ez form   2. Download 1040ez form $1,000   3. Download 1040ez form Compare lines 1 and 2. Download 1040ez form Enter the larger of the two amounts here. Download 1040ez form 3. Download 1040ez form     4. Download 1040ez form Enter on line 4 the amount shown below for your filing status. Download 1040ez form       Single or Married filing separately—$6,100 Married filing jointly—$12,200 Head of household—$8,950 4. Download 1040ez form     5. Download 1040ez form Standard deduction. Download 1040ez form         a. Download 1040ez form Compare lines 3 and 4. Download 1040ez form Enter the smaller amount here. Download 1040ez form If under 65 and not blind, stop here. Download 1040ez form This is your standard deduction. Download 1040ez form Otherwise, go on to line 5b. Download 1040ez form 5a. Download 1040ez form     b. Download 1040ez form If 65 or older or blind, multiply $1,500 ($1,200 if married) by the number in box c above. Download 1040ez form Enter the result here. Download 1040ez form 5b. Download 1040ez form     c. Download 1040ez form Add lines 5a and 5b. Download 1040ez form This is your standard deduction for 2013. Download 1040ez form 5c. Download 1040ez form     Earned income includes wages, salaries, tips, professional fees, and other compensation received for personal services you performed. Download 1040ez form It also includes any amount received as a scholarship that you must include in income. Download 1040ez form   Example 1. Download 1040ez form Michael is single, age 15, and not blind. Download 1040ez form His parents can claim him as a dependent on their tax return. Download 1040ez form He has taxable interest income of $800 and wages of $150. Download 1040ez form He enters $500 (his earned income plus $350) on line 1 of Worksheet 1. Download 1040ez form On line 3, he enters $1,000, the larger of $500 or $1,000. Download 1040ez form Michael enters $6,100 on line 4. Download 1040ez form On line 5a, he enters $1,000, the smaller of $1,000 or $6,100. Download 1040ez form His standard deduction is $1,000. Download 1040ez form Example 2. Download 1040ez form Judy, a full-time student, is single, age 22, and not blind. Download 1040ez form Her parents can claim her as a dependent on their tax return. Download 1040ez form She has dividend income of $275 and wages of $2,500. Download 1040ez form She enters $2,850 (her earned income plus $350) on line 1 of Worksheet 1. Download 1040ez form On line 3, she enters $2,850, the larger of $2,850 or $1,000. Download 1040ez form She enters $6,100 on line 4. Download 1040ez form On line 5a, she enters $2,850 (the smaller of $2,850 or $6,100) as her standard deduction. Download 1040ez form Example 3. Download 1040ez form Amy, who is single, is claimed as a dependent on her parents' tax return. Download 1040ez form She is 18 years old and blind. Download 1040ez form She has taxable interest income of $1,000 and wages of $2,000. Download 1040ez form She enters $2,350 (her earned income plus $350) on line 1 of Worksheet 1. Download 1040ez form 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. Download 1040ez form Because Amy is blind, she checks the box for blindness and enters “1” in box c at the top of Worksheet 1. Download 1040ez form She enters $1,500 (the number in box c times $1,500) on line 5b. Download 1040ez form Her standard deduction on line 5c is $3,850 ($2,350 + $1,500). Download 1040ez form Standard Deduction of Zero The standard deduction for the following dependents is zero. Download 1040ez form A married dependent filing a separate return whose spouse itemizes deductions. Download 1040ez form 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. Download 1040ez form A nonresident or dual-status alien dependent, unless the dependent is married to a U. Download 1040ez form S. Download 1040ez form citizen or resident alien at the end of the year and chooses to be treated as a U. Download 1040ez form S. Download 1040ez form resident for the year. Download 1040ez form See Publication 519, U. Download 1040ez form S. Download 1040ez form Tax Guide for Aliens, for information on making this choice. Download 1040ez form Example. Download 1040ez form Jennifer, who is a dependent of her parents, is entitled to file a joint return with her husband. Download 1040ez form However, her husband elects to file a separate return and itemize his deductions. Download 1040ez form Because he itemizes, Jennifer's standard deduction on her return is zero. Download 1040ez form She can, however, itemize any of her allowable deductions. Download 1040ez form 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. Download 1040ez form This is true even if the other taxpayer does not actually claim the exemption. Download 1040ez form Example. Download 1040ez form James and Barbara can claim their child, Ben, as a dependent on their return. Download 1040ez form Ben is a college student who works during the summer and must file a tax return. Download 1040ez form Ben cannot claim his own exemption on his return. Download 1040ez form This is true even if James and Barbara do not claim him as a dependent on their return. Download 1040ez form Withholding From Wages Employers generally withhold federal income tax, social security tax, and Medicare tax from an employee's wages. Download 1040ez form If the employee claims exemption from withholding on Form W-4, the employer will not withhold federal income tax. Download 1040ez form The exemption from withholding does not apply to social security and Medicare taxes. Download 1040ez form Conditions for exemption from withholding. Download 1040ez form   An employee can claim exemption from withholding for 2014 only if he or she meets both of the following conditions. Download 1040ez form For 2013, the employee had a right to a refund of all federal income tax withheld because he or she had no tax liability. Download 1040ez form For 2014, the employee expects a refund of all federal income tax withheld because he or she expects to have no tax liability. Download 1040ez form Dependents. Download 1040ez form   An employee who is a dependent ordinarily cannot claim exemption from withholding if both of the following are true. Download 1040ez form The employee's gross income will be more than $1,000, the minimum standard deduction for 2014. Download 1040ez form The employee's unearned income will be more than $350. Download 1040ez form Exceptions. Download 1040ez form   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. Download 1040ez form The above exceptions do not apply to supplemental wages greater than $1,000,000. Download 1040ez form For more information, see Exemption From Withholding in chapter 1 of Publication 505. Download 1040ez form Example. Download 1040ez form Guy is 17 and a student. Download 1040ez form During the summer he works part time at a grocery store. Download 1040ez form He expects to earn about $1,200 this year. Download 1040ez form 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. Download 1040ez form The only other income he expects during the year is $375 interest on a savings account. Download 1040ez form He expects that his parents will be able to claim him as a dependent on their tax return. Download 1040ez form He is not blind and will not claim adjustments to income, itemized deductions, a higher standard deduction, or tax credits on his return. Download 1040ez form 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. Download 1040ez form Claiming exemption from withholding. Download 1040ez form    To claim exemption from withholding, an employee must enter “Exempt” in the space provided on Form W-4, line 7. Download 1040ez form The employee must complete the rest of the form, as explained in the form instructions, and give it to his or her employer. Download 1040ez form Renewing an exemption from withholding. Download 1040ez form   An exemption from withholding is good for only one year. Download 1040ez form An employee must file a new Form W-4 by February 15 each year to continue the exemption. Download 1040ez form Part 2. Download 1040ez form Tax on Unearned Income of Certain Children The two rules that follow may affect the tax on the unearned income of certain children. Download 1040ez form 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. Download 1040ez form (See Parent's Election To Report Child's Interest and Dividends , later. Download 1040ez form ) 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. Download 1040ez form (See Tax for Certain Children Who Have Unearned Income , later. Download 1040ez form ) For these rules, the term “child” includes a legally adopted child and a stepchild. Download 1040ez form These rules apply whether or not the child is a dependent. Download 1040ez form These rules do not apply if neither of the child's parents were living at the end of the year. Download 1040ez form 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. Download 1040ez form 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 . Download 1040ez form 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. Download 1040ez form Only the parent whose tax return is used can make the election described under Parent's Election To Report Child's Interest and Dividends . Download 1040ez form Parents are married. Download 1040ez form   If the child's parents file separate returns, use the return of the parent with the greater taxable income. Download 1040ez form Parents not living together. Download 1040ez form   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. Download 1040ez form If the custodial parent is not considered unmarried, use the return of the parent with the greater taxable income. Download 1040ez form   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. Download 1040ez form Parents are divorced. Download 1040ez form   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. Download 1040ez form Custodial parent remarried. Download 1040ez form   If the custodial parent has remarried, the stepparent (rather than the noncustodial parent) is treated as the child's other parent. Download 1040ez form Therefore, if the custodial parent and the stepparent file a joint return, use that joint return. Download 1040ez form Do not use the return of the noncustodial parent. Download 1040ez form   If the custodial parent and the stepparent are married, but file separate returns, use the return of the one with the greater taxable income. Download 1040ez form If the custodial parent and the stepparent are married but not living together, the earlier discussion under Parents not living together applies. Download 1040ez form Parents never married. Download 1040ez form   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. Download 1040ez form If the parents did not live together all year, the rules explained earlier under Parents are divorced apply. Download 1040ez form Widowed parent remarried. Download 1040ez form   If a widow or widower remarries, the new spouse is treated as the child's other parent. Download 1040ez form The rules explained earlier under Custodial parent remarried apply. Download 1040ez form 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. Download 1040ez form If you do, your child will not have to file a return. Download 1040ez form You can make this election only if all the following conditions are met. Download 1040ez form Your child was under age 19 (or under age 24 if a full-time student) at the end of the year. Download 1040ez form Your child had income only from interest and dividends (including capital gain distributions and Alaska Permanent Fund dividends). Download 1040ez form The child's gross income was less than $10,000. Download 1040ez form The child is required to file a return unless you make this election. Download 1040ez form The child does not file a joint return for the year. Download 1040ez form 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. Download 1040ez form No federal income tax was withheld from your child's income under the backup withholding rules. Download 1040ez form You are the parent whose return must be used when applying the special tax rules for children. Download 1040ez form (See Which Parent's Return To Use , earlier. Download 1040ez form ) These conditions are also shown in Figure 1. Download 1040ez form Certain January 1 birthdays. Download 1040ez form   A child born on January 1, 1995, is considered to be age 19 at the end of 2013. Download 1040ez form You cannot make this election for such a child unless the child was a full-time student. Download 1040ez form   A child born on January 1, 1990, is considered to be age 24 at the end of 2013. Download 1040ez form You cannot make this election for such a child. Download 1040ez form How to make the election. Download 1040ez form    Make the election by attaching Form 8814 to your Form 1040 or Form 1040NR. Download 1040ez form (If you make this election, you cannot file Form 1040A or Form 1040EZ. Download 1040ez form ) Attach a separate Form 8814 for each child for whom you make the election. Download 1040ez form You can make the election for one or more children and not for others. Download 1040ez form Effect of Making the Election The federal income tax on your child's income may be more if you make the Form 8814 election. Download 1040ez form Rate may be higher. Download 1040ez form   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. Download 1040ez form This is because the tax rate on the child's income between $1,000 and $2,000 is 10% if you make this election. Download 1040ez form 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. Download 1040ez form Deductions you cannot take. Download 1040ez form   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. Download 1040ez form The additional standard deduction if the child is blind. Download 1040ez form The deduction for a penalty on an early withdrawal of your child's savings. Download 1040ez form Itemized deductions (such as your child's investment expenses or charitable contributions). Download 1040ez form Figure 1. Download 1040ez form Can You Include Your Child's Income On Your Tax Return? Please click here for the text description of the image. Download 1040ez form Figure 1. Download 1040ez form Can You Include Your Child's Income On Your Tax Return? Deductible investment interest. Download 1040ez form   If you use Form 8814, your child's unearned income is considered your unearned income. Download 1040ez form To figure the limit on your deductible investment interest, add the child's unearned income to yours. Download 1040ez form 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. Download 1040ez form Alternative minimum tax. Download 1040ez form    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. Download 1040ez form If it is, you must include it with your own tax preference items when figuring your AMT. Download 1040ez form See Form 6251, Alternative Minimum Tax—Individuals, and its instructions for details. Download 1040ez form Reduced deductions or credits. Download 1040ez form   If you use Form 8814, your increased adjusted gross income may reduce certain deductions or credits on your return, including the following. Download 1040ez form Deduction for contributions to a traditional individual retirement arrangement (IRA). Download 1040ez form Deduction for student loan interest. Download 1040ez form Itemized deductions for medical expenses, casualty and theft losses, and certain miscellaneous expenses. Download 1040ez form Credit for child and dependent care expenses. Download 1040ez form Child tax credit. Download 1040ez form Education tax credits. Download 1040ez form Earned income credit. Download 1040ez form Penalty for underpayment of estimated tax. Download 1040ez form   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. Download 1040ez form 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. Download 1040ez form Get Publication 505 for more information. Download 1040ez form Figuring Child's Income Use Form 8814, Part I, to figure your child's interest and dividend income to report on your return. Download 1040ez form Only the amount over $2,000 is added to your income. Download 1040ez form The amount over $2,000 is shown on Form 8814, line 6. Download 1040ez form Unless the child's income includes qualified dividends or capital gain distributions (discussed next), the same amount is shown on Form 8814, line 12. Download 1040ez form Include the amount from Form 8814, line 12, on Form 1040 or Form 1040NR, line 21. Download 1040ez form 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. Download 1040ez form On the dotted line next to line 21, enter “Form 8814” and the total of the Form 8814, line 12 amounts. Download 1040ez form Note. Download 1040ez form The tax on the first $2,000 is figured on Form 8814, Part II. Download 1040ez form See Figuring Additional Tax , later. Download 1040ez form Qualified dividends. Download 1040ez form   Enter on Form 8814, line 2a, any ordinary dividends your child received. Download 1040ez form This amount may include qualified dividends. Download 1040ez form 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. Download 1040ez form For detailed information about qualified dividends, see Publication 550. Download 1040ez form   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. Download 1040ez form You do not include these dividends on Form 8814, line 12, or on line 21 of Form 1040 or Form 1040NR. Download 1040ez form   Enter the child's qualified dividends on Form 8814, line 2b. Download 1040ez form But do not include this amount on Form 1040, lines 9a and 9b, or Form 1040NR, lines 10a and 10b. Download 1040ez form Instead, include the amount from Form 8814, line 9, on Form 1040, lines 9a and 9b, or Form 1040NR, lines 10a and 10b. Download 1040ez form (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. Download 1040ez form ) Capital gain distributions. Download 1040ez form   Enter on Form 8814, line 3, any capital gain distributions your child received. Download 1040ez form 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. Download 1040ez form You do not include it on Form 8814, line 12, or on line 21 of Form 1040 or Form 1040NR. Download 1040ez form   Include the amount from Form 8814, line 10, on Schedule D, line 13; Form 1040, line 13; or Form 1040NR, line 14, whichever applies. Download 1040ez form (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. Download 1040ez form ) Collectibles (28% rate) gain. Download 1040ez form    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. Download 1040ez form Multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. Download 1040ez form The numerator is the part of the child's total capital gain distribution that is collectibles (28% rate) gain. Download 1040ez form The denominator is the child's total capital gain distribution. Download 1040ez form Enter the result on line 4 of the 28% Rate Gain Worksheet. Download 1040ez form Unrecaptured section 1250 gain. Download 1040ez form   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. Download 1040ez form Multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. Download 1040ez form The numerator is the part of the child's total capital gain distribution that is unrecaptured section 1250 gain. Download 1040ez form The denominator is the child's total capital gain distribution. Download 1040ez form Enter the result on the Unrecaptured Section 1250 Gain Worksheet, line 11. Download 1040ez form Section 1202 gain. Download 1040ez form   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. Download 1040ez form (For information about the exclusion, see chapter 4 of Publication 550. Download 1040ez form ) To figure that part, multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. Download 1040ez form The numerator is the part of the child's total capital gain distribution that is section 1202 gain. Download 1040ez form The denominator is the child's total capital gain distribution. Download 1040ez form Your section 1202 exclusion is generally 50% of the result, but may be subject to a limit. Download 1040ez form In some cases, the exclusion is more than 50%. Download 1040ez form See the instructions for Schedule D for details and information on how to report the exclusion amount. Download 1040ez form Example. Download 1040ez form Fred is 6 years old. Download 1040ez form 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. Download 1040ez form (None of the distributions were reported on Form 1099-DIV as unrecaptured section 1250 gain, section 1202 gain, or collectibles (28% rate) gain. Download 1040ez form ) All of the ordinary dividends are qualified dividends. Download 1040ez form He has no other income and is not subject to backup withholding. Download 1040ez form No estimated tax payments were made under his name and social security number. Download 1040ez form Fred's parents elect to include Fred's income on their tax return instead of filing a return for him. Download 1040ez form 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. Download 1040ez form They leave lines 1a and 1b of Form 8814 blank because Fred does not have any interest income. Download 1040ez form They enter his ordinary dividends of $1,575 on lines 2a and 2b because all of Fred's ordinary dividends are qualified dividends. Download 1040ez form They enter the amount of Fred's capital gain distributions, $525, on line 3. Download 1040ez form Next, they add the amounts on lines 1a, 2a, and 3 and enter the result, $2,100, on line 4. Download 1040ez form 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. Download 1040ez form This is the total amount from Form 8814 to be reported on their return. Download 1040ez form Next, they figure how much of this amount is qualified dividends and how much is capital gain distributions. Download 1040ez form They divide the amount on line 2b, $1,575, by the amount on line 4, $2,100. Download 1040ez form They enter the result, . Download 1040ez form 75, on line 7. Download 1040ez form They divide the amount on line 3, $525, by the amount on line 4, $2,100. Download 1040ez form They enter the result, . Download 1040ez form 25, on line 8. Download 1040ez form They multiply the amount on line 6, $100, by the decimal on line 7, . Download 1040ez form 75, and enter the result, $75, on line 9. Download 1040ez form They multiply the amount on line 6, $100, by the decimal on line 8, . Download 1040ez form 25, and enter the result, $25, on line 10. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form They enter $100 ($75 + $25) on line 11 and -0- ($100 – $100) on line 12. Download 1040ez form Because the amount on line 12 is -0-, they do not include any amount from Form 8814 on their Form 1040, line 21. Download 1040ez form 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. Download 1040ez form This tax is added to the tax figured on your income. Download 1040ez form This additional tax is the smaller of: 10% x (your child's gross income − $1,000), or $100. Download 1040ez form Include the amount from line 15 of all your Forms 8814 in the total on Form 1040, line 44, or Form 1040NR, line 42. Download 1040ez form Check box a on Form 1040, line 44, or Form 1040NR, line 42. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form Attach the completed form to the child's Form 1040, Form 1040A, or Form 1040NR. Download 1040ez form When Form 8615 must be filed. Download 1040ez form   Form 8615 must be filed for a child if all of the following statements are true. Download 1040ez form The child's unearned income was more than $2,000. Download 1040ez form The child is required to file a return for 2013. Download 1040ez form 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. Download 1040ez form At least one of the child's parents was alive at the end of 2013. Download 1040ez form The child does not file a joint return for 2013. Download 1040ez form These conditions are also shown in Figure 2. Download 1040ez form Certain January 1 birthdays. Download 1040ez form   Use the following chart to determine whether certain children with January 1 birthdays meet condition 3 under When Form 8615 must be filed. Download 1040ez form IF a child was born on. Download 1040ez form . Download 1040ez form . Download 1040ez form THEN, at the end of 2013, the child is considered to be. Download 1040ez form . Download 1040ez form . Download 1040ez form January 1, 1996 18* January 1, 1995 19** January 1, 1990 24*** *This child is not under age 18. Download 1040ez form The child meets condition 3 only if the child did not have earned income that was more than half of the child's support. Download 1040ez form  **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. Download 1040ez form  ***Do not use Form 8615 for this child. Download 1040ez form Figure 2. Download 1040ez form Do You Have To Use Form 8615 To Figure Your Child's Tax? Please click here for the text description of the image. Download 1040ez form Figure 2. Download 1040ez form 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. Download 1040ez form (If the parents filed a joint return, enter the name and social security number listed first on the joint return. Download 1040ez form ) On line C, check the box for the parent's filing status. Download 1040ez form See Which Parent's Return To Use, earlier, for information on which parent's return information must be used on Form 8615. Download 1040ez form Parent with different tax year. Download 1040ez form   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. Download 1040ez form Example. Download 1040ez form Kimberly must use her mother's tax and taxable income to complete her Form 8615 for calendar year 2013 (January 1 – December 31). Download 1040ez form Kimberly's mother files her tax return on a fiscal year basis (July 1 – June 30). Download 1040ez form Kimberly must use the information on her mother's return for the tax year ending June 30, 2013, to complete her 2013 Form 8615. Download 1040ez form Parent's return information not known timely. Download 1040ez form   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. Download 1040ez form   You can use any reasonable estimate. Download 1040ez form This includes using information from last year's return. Download 1040ez form If you use an estimated amount on Form 8615, enter “Estimated” on the line next to the amount. Download 1040ez form   When you get the correct information, file an amended return on Form 1040X, Amended U. Download 1040ez form S. Download 1040ez form Individual Income Tax Return. Download 1040ez form Extension of time to file. Download 1040ez form   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. Download 1040ez form S. Download 1040ez form Individual Income Tax Return. Download 1040ez form See the instructions for Form 4868 for details. Download 1040ez form    An extension of time to file is not an extension of time to pay. Download 1040ez form You must make an accurate estimate of the tax for 2013. Download 1040ez form 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. Download 1040ez form See Form 4868 and its instructions. Download 1040ez form Parent's return information not available. Download 1040ez form   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). Download 1040ez form How to request. Download 1040ez form   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. Download 1040ez form (The IRS cannot process a request received before the end of the tax year. Download 1040ez form )    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. Download 1040ez form   The request must contain all of the following. Download 1040ez form 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. Download 1040ez form Proof of the child's age (for example, a copy of the child's birth certificate). Download 1040ez form 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). Download 1040ez form 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. Download 1040ez form    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. Download 1040ez form Step 1. Download 1040ez form 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. Download 1040ez form To do that, use Form 8615, Part I. Download 1040ez form 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. Download 1040ez form Adjusted gross income is shown on Form 1040, line 38; Form 1040A, line 22; or Form 1040NR, line 37. Download 1040ez form Form 1040EZ and Form 1040NR-EZ cannot be used if Form 8615 must be filed. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form Alternate Worksheet for Form 8615, Line 1 A. Download 1040ez form Enter the amount from the child's Form 1040, line 22, or Form 1040NR, line 23   B. Download 1040ez form 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. Download 1040ez form Enter this total as a positive number (greater than zero)   C. Download 1040ez form Add line A and line B and  enter the total   D. Download 1040ez form 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. Download 1040ez form Subtract line D from line C. Download 1040ez form Enter the result here and on Form 8615, line 1   Unearned income defined. Download 1040ez form   Unearned income is generally all income other than salaries, wages, and other amounts received as pay for work actually performed. Download 1040ez form 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. Download 1040ez form 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). Download 1040ez form Nontaxable income. Download 1040ez form   For this purpose, unearned income includes only amounts the child must include in gross income. Download 1040ez form Nontaxable unearned income, such as tax-exempt interest and the nontaxable part of social security and pension payments, is not included. Download 1040ez form Capital loss. Download 1040ez form   A child's capital losses are taken into account in figuring the child's unearned income. Download 1040ez form Capital losses are first applied against capital gains. Download 1040ez form 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. Download 1040ez form Any difference over $3,000 is carried to the next year. Download 1040ez form Income from property received as a gift. Download 1040ez form   A child's unearned income includes all income produced by property belonging to the child. Download 1040ez form 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. Download 1040ez form   A child's unearned income includes income produced by property given as a gift to the child. Download 1040ez form This includes gifts to the child from grandparents or any other person and gifts made under the Uniform Gift to Minors Act. Download 1040ez form Example. Download 1040ez form Amanda Black, age 13, received the following income. Download 1040ez form 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. Download 1040ez form Amanda's unearned income is $2,100. Download 1040ez form This is the total of the dividends ($800), taxable interest ($1,200), and capital gains reduced by capital losses ($300 − $200 = $100). Download 1040ez form Her wages are earned (not unearned) income because they are received for work actually performed. Download 1040ez form Her tax-exempt interest is not included because it is nontaxable. Download 1040ez form Trust income. Download 1040ez form   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. Download 1040ez form   However, taxable distributions from a qualified disability trust are considered earned income for the purposes of completing Form 8615. Download 1040ez form See the Form 8615 instructions for details. Download 1040ez form Adjustment to income. Download 1040ez form   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. Download 1040ez form Line 2 (Deductions) If the child does not itemize deductions on Schedule A (Form 1040 or Form 1040NR), enter $2,000 on line 2. Download 1040ez form 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. Download 1040ez form Directly connected. Download 1040ez form   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. Download 1040ez form These expenses include custodian fees and service charges, service fees to collect taxable interest and dividends, and certain investment counsel fees. Download 1040ez form    These expenses are added to certain other miscellaneous itemized deductions on Schedule A (Form 1040). Download 1040ez form Only the amount greater than 2% of the child's adjusted gross income can be deducted. Download 1040ez form See Publication 529, Miscellaneous Deductions, for more information. Download 1040ez form Example 1. Download 1040ez form 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. Download 1040ez form His adjusted gross income is $8,000, which is entered on Form 1040, line 38, and on Form 8615, line 1. Download 1040ez form 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. Download 1040ez form Example 2. Download 1040ez form Eleanor, age 8, has unearned income of $16,000 and an early withdrawal penalty of $100. Download 1040ez form She has no other income. Download 1040ez form 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. Download 1040ez form Her adjusted gross income, entered on line 1, is $15,900 ($16,000 − $100). Download 1040ez form The amount on line 2 is $2,050. Download 1040ez form This is the larger of: $1,000 plus the $1,050 of directly connected itemized deductions, or $2,000. Download 1040ez form Line 3 Subtract line 2 from line 1 and enter the result on this line. Download 1040ez form If zero or less, do not complete the rest of the form. Download 1040ez form However, you must still attach Form 8615 to the child's tax return. Download 1040ez form Figure the tax on the child's taxable income in the normal manner. Download 1040ez form 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. Download 1040ez form Child files Form 2555 or 2555-EZ. Download 1040ez form   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. Download 1040ez form Enter the amount from line 3 of the Foreign Earned Income Tax Worksheet as the child's taxable income on Form 8615, line 4. Download 1040ez form Line 5 (Net Unearned Income) A child's net unearned income cannot be more than his or her taxable income. Download 1040ez form Enter on Form 8615, line 5, the smaller of line 3 or line 4. Download 1040ez form This is the child's net unearned income. Download 1040ez form If zero or less, do not complete the rest of the form. Download 1040ez form However, you must still attach Form 8615 to the child's tax return. Download 1040ez form Figure the tax on the child's taxable income in the normal manner. Download 1040ez form Step 2. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form For example, do not refigure the medical expense deduction. Download 1040ez form Figure the tentative tax on Form 8615, lines 6 through 13. Download 1040ez form 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. Download 1040ez form If the parent's taxable income is zero or less, enter zero on line 6. Download 1040ez form Parent files Form 2555 or 2555-EZ. Download 1040ez form   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. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form Do not include the amount from line 5 of the Form 8615 being completed. Download 1040ez form (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. Download 1040ez form ) Example. Download 1040ez form Paul and Jane Persimmon have three children, Sharon, Jerry, and Mike, who must attach Form 8615 to their tax returns. Download 1040ez form 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. Download 1040ez form Line 7 of Jerry's Form 8615 will show $1,800 ($800 + $1,000). Download 1040ez form Line 7 of Mike's Form 8615 will show $1,400 ($800 + $600). Download 1040ez form Other children's information not available. Download 1040ez form   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. Download 1040ez form Estimates and extensions are discussed earlier under Providing Parental Information (Form 8615, Lines A–C) . Download 1040ez form Line 8 (Parent's Taxable Income Plus Children's Net Unearned Income) Enter on this line the total of lines 5, 6, and 7. Download 1040ez form You must determine the amount of net capital gain and qualified dividends included on this line before completing Form 8615, line 9. Download 1040ez form Net capital gain. Download 1040ez form   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. Download 1040ez form If Schedule D is not required, it is the amount on Form 1040, line 13; Form 1040A, line 10; or Form 1040NR, line 14. Download 1040ez form Qualified dividends. Download 1040ez form   Qualified dividends are those dividends reported on line 9b of Form 1040 or Form 1040A, or line 10b of Form 1040NR. Download 1040ez form Net capital gain and qualified dividends on line 8. Download 1040ez form   If neither the child, nor the parent, nor any other child has net capital gain, the net capital gain on line 8 is zero. Download 1040ez form   If neither the child, nor the parent, nor any other child has qualified dividends, the amount of qualified dividends on line 8 is zero. Download 1040ez form   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. Download 1040ez form   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. Download 1040ez form   Use the instructions for Form 8615, line 8, including the appropriate Line 5 Worksheet, to find these amounts. Download 1040ez form See the instructions for Form 8615 for more details. Download 1040ez form Note. Download 1040ez form The amount of any net capital gain or qualified dividends is not separately reported on line 8. Download 1040ez form It is  needed, however, when figuring the tax on line 9. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form If line 8 includes any net capital gain or qualified dividends, use the Qualified Dividends and Capital Gain Tax Worksheet to figure this tax. Download 1040ez form For details, see the instructions for Form 8615, line 9. Download 1040ez form However, if the child, parent, or any other child has 28% rate gain or unrecaptured section 1250 gain, use the Schedule D Tax Worksheet. Download 1040ez form But if Schedule J is used to figure the tax on the parent's return, use it to figure this tax. Download 1040ez form Child files Form 2555 or 2555-EZ. Download 1040ez form   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. Download 1040ez form Using the Schedule D Tax Worksheet for line 9 tax. Download 1040ez form    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. Download 1040ez form 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. Download 1040ez form Then figure the line 9 tax using another Schedule D Tax Worksheet. Download 1040ez form (Do not attach this Schedule D Tax Worksheet to the child's return. Download 1040ez form )   Complete this Schedule D Tax Worksheet as follows. Download 1040ez form On line 1, enter the amount from Form 8615, line 8. Download 1040ez form On line 2, enter the qualified dividends included on Form 8615, line 8. Download 1040ez form (See the earlier discussion for line 8. Download 1040ez form ) 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. Download 1040ez form 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. Download 1040ez form If applicable, include instead the smaller amount entered on the dotted line next to line 4e. Download 1040ez form On lines 5 and 6, follow the worksheet instructions. Download 1040ez form On line 7, enter the net capital gain included on Form 8615, line 8. Download 1040ez form (See the earlier discussion for line 8. Download 1040ez form ) On lines 8 through 10, follow the worksheet instructions. Download 1040ez form 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). Download 1040ez form 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. Download 1040ez form Figure these amounts as explained later under Figuring unrecaptured section 1250 gain (line 11) and Figuring 28% rate gain (line 11). Download 1040ez form 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. Download 1040ez form Otherwise, skip steps 10, 11, and 12 below, and go to step 13. Download 1040ez form Determine whether there is a line 8 capital gain excess as follows. Download 1040ez form 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. Download 1040ez form (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. Download 1040ez form ) Subtract (a) from the amount on line 1 of this Schedule D Tax Worksheet. Download 1040ez form Subtract (b) from the amount on line 10 of this Schedule D Tax Worksheet. Download 1040ez form If the result is more than zero, that amount is the line 8 capital gain excess. Download 1040ez form If the result is zero or less, there is no line 8 capital gain excess. Download 1040ez form If there is no line 8 capital gain excess, skip step 12 below and go to step 13. Download 1040ez form 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. Download 1040ez form (These modifications are to be made only for purposes of filling out this additional Schedule D Tax Worksheet. Download 1040ez form ) Reduce the amount you would otherwise enter on line 9 (but not below zero) by the line 8 capital gain excess. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form 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. Download 1040ez form Complete lines 12 through 45 following the worksheet instructions. Download 1040ez form Use the parent's filing status to complete lines 15, 42, and 44. Download 1040ez form Enter the amount from line 45 of this Schedule D Tax Worksheet on Form 8615, line 9, and check the box on that line