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1. Al and Debbie have a son who has significant investment income. The couple is unsure about filing a return for their son or reporting

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1. Al and Debbie have a son who has significant investment income. The couple is unsure about filing a return for their son or reporting his investment income on their return using Form 8814 Which of the following requirements must be met for Al and Debbie to use Form 8814 to report their son's income? (1) He was under age 19 (or a full-time student under age 24) at the end of the year. (2) His only income was from interest and dividends, including capital gain distributions. (3) He didn't make any estimated tax payments for the year, and there were no federal income tax withholdings from his income. (4) His gross income for the year must be less than $11,000 (5) He is required to file a tax return, unless Al and Debbie elect to report his income on their tax return. a) (1), (2), (3), and (5) 1). (3), (4), and (5) b) c) (1). (2), and (3) d) (1), (2), (3), (4), and (5) 2. Al and Debbie have decided to enlist the assistance of a tax preparer for the preparation of their son's return. Their son (age 16) has significant investment income and is required to use Form 8615 in the completion of his tax return. Which item is listed incorrectly as information Al and Debbie must provide from their own tax return for the tax preparer to accurately complete their son's tax return? a) Filing status b) Adjusted gross income c) Taxable income d) Tax liability 3. Al and Debbie have decided to report their son's (age 16) investment income on their return using Form 8814. All the following conditions must be met for Al and Debbie to use Form 8814 to report their son's income for the 2016 tax year, except a) He was under age 17 at the end of 2016 b) He had income only from interest and dividends (including Alaska Permanent Fund c) d) Dividends). He had gross income of less than $10,500 He made no estimated tax payments for 2016. 4. Al and Debbie used Form 8814 to report their son's investment income. Form 8814 must be filed: a) b) c) d) With Al and Debbie's return. With their son's return. Only if the child had federal income tax withheld Only if Al and Debbie are required to file an individual return

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