2023 Form 8615 - Tax For Certain Children Who Have Unearned Income

Form 8615 is used for reporting the tax liability of certain children who have unearned income. Specifically, it is used to calculate the "kiddie tax," which is a tax on the unearned income of a child.

The kiddie tax rules were designed to prevent parents from shifting investment income to their children in order to take advantage of their lower tax rates. Prior to the implementation of the kiddie tax rules, parents could allocate investments in their children's names to benefit from lower tax rates on the children's income.

For the current taxyear version of Form 8615, please go here.