Explore How to Calculate Kiddie Tax With G&S Accountancy

Edward Carter13 Feb, 2024Business

Families with unearned income subject to Kiddie Tax have to file IRS Form 8615 along with their federal tax return. Children with unearned income exceeding $13,850 or any earned income must file a distinct tax return. However, if a child?s unearned income falls below $13,850 but exceeds $1,250, it may be incorporated into their parent?s income tax return. Schedule a call with G&S Accountancy's tax experts and see how we can help you.