How to Fill Out IRS Form 8814 (Election to Report Child's Interest & Dividends)

If a dependent child receives unearned investment income during the tax year, they may have to file a Form 1040 tax return.Show more

Children may be subject to the "Kiddie Tax" which taxes their investment income at the parents tax rates via IRS Form 8615.

In some cases, the parents can elect to report the investment income on their own tax return, which relieves the child of having to separately file their own Form 1040.

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DISCLAIMER: I am a licensed attorney and certified public accountant (CPA) in the State of Florida. I am not a financial advisor. The information provided in this video is for entertainment purposes only. No such communication is provided in the course of an attorney-client relationship, and no communication is intended to constitute legal advice. You should speak with your own tax and legal professionals to discuss your circumstances before performing any of the tax, legal or accounting strategies demonstrated in this video. Thank you.