Fertn 8814

Fertn 8814 Department of the Treasury Internal Revenue Service (991 Name(s) shown on your return Parents' Election To Report Child's Interest and Dividends le Information about Form 8814 and its instructions is at www.irs.gov/lorm8814. I. Attach to parents' Form 1040 or Form 1040NR. OMB No. 1545-0074 2014 Attachment Sequence No. 40 Your social security number Caution. The federal income tax on your child's income, including qualified dividends and capital gain distributions, may be less if you file a separate tax return for the child instead of making this election. This is because you cannot take certain tax benefits that your child could take on his or her own return. For details, see Tax benefits you cannot take in the instructions. A Child's name (first, initial, and last) B Child's social security number C If more than one Form 8814 is attached, check here Part I Child's Interest and Dividends To Report on Your Return la b 2a b Enter your child's taxable interest. If this amount is different from the amounts shown on the child's Forms 1099-INT and 1099-OID, see the instructions Enter your child's tax-exempt interest. Do not include this amount on line la lb Enter your child's ordinary dividends, including any Alaska Permanent Fund dividends. If your child received any ordinary dividends as a nominee, see the instructions Enter your child's qualified dividends included on line 2a. See the instructions m. 2a 3 Enter your child's capital gain distributions. If your child received any capital gain distributions as a nominee, see the instructions 4 Add lines la, 2a, and 3. 1f the total is $2,000 or less, skip lines 5 through 12 and go to line 13 If the total is $10,000 or more, do not file this form. Your child must file his or her own return to report the income 5 Base amount 6 Subtract line 5 from line 4 If both lines 2b and 3 are zero or blank, skip lines 7 through 10, enter -0- on line 11, and go to line 12. Otherwise, go to line 7. 7 Divide line 2b by line 4. Enter the result as a decimal (rounded to at least three places) 8 Divide line 3 by line 4. Enter the result as a decimal (rounded to at least three places) 9 Multiply line 6 by line 7. Enter the result here. See the instructions for where to report this amount on your return 10 Multiply line 6 by line 8. Enter the result here. See the instructions for where to report this amount on your return 11 Add lines 9 and 10 12 Subtract line 11 from line 6. Include this amount in the total on Form 1040, line 21, or Form 1040NR, line 21. In the space next to line 21, enter "Form 8814" and show the amount. If you checked the box on line C above, see the instructions. Go to line 13 below 8 9 10 3 4 5 6 11 12 Part II Tax on the First $2,000 of Child's Interest and Dividends 13 Amount not taxed r13 14 Subtract line 13 from line 4. If the result is zero or less, enter -0- 14 15 Tax. Is the amount on line 14 less than $1,0007 0 No. Enter $100 here and see the Note below. 15 0 Yes. Multiply line 14 by 10% (.10). Enter the result here and see the Note below. Note. If you checked the box on line C above, see the instructions. Otherwise, include the amount from line 15 in the tax you enter on Form 1040, line 44, or Form 1040NR, line 42. Be sure to check box a on Form 1040, line 44, or Form 1040NR, line 42. For Paperwork Reduction Act Notice, see your tax retum Instructions. Form 8814 sots EFTA01220941