Bill and Janet are a married couple filing jointly in 2021. They have one 12-year old child, Robert, whose only income in 2021 is $3,000 of interest income. Bill and Janets AGI in 2021 is $70,800, taxed at ordinary rates. Their only other deduction is the $25,100 standard deduction. Bill and Janet are eligible for a $2,000 child tax credit.

Click here to access the individual income tax schedules.

Enter all amounts as positive numbers. If an amount is zero, enter "0".

Question Content Area 1. Complete Form 8615 assuming Bill and Janet do not make the election to include Robert's income on their tax return.

Form 8814 Department of the Treasury Internal Revenue Service	Parents' Election To Report Child's Interest and Dividends Go to www.irs.gov/Form8814 for the latest information. Attach to parents' Form 1040, 1040-SR, or 1040-NR.	OMB No. 1545-0074
		2021 Attachment Sequence No. 40

Name(s) shown on your return Bill and Janet	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) Robert	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

1a	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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			1a	fill in the blank a37235f8e011023_1
b	Enter your child's tax-exempt interest. Do not include this amount on line 1a . . . .	1b
2a	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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			2a	fill in the blank a37235f8e011023_2
b	Enter your child's qualified dividends included on line 2a. See the instructions . . . . . . .	2b
3	Enter your child's capital gain distributions. If your child received any capital gain distributions as a nominee, see the instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			3	fill in the blank a37235f8e011023_3
4	Add lines 1a, 2a, and 3. If the total is $2,200 or less, skip lines 5 through 12 and go to line 13. If the total is $11,000 or more, do not file this form. Your child must file his or her own return to report the income . . .			4	fill in the blank a37235f8e011023_4
5	Base amount. Enter 2,200 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			5	fill in the blank a37235f8e011023_5
6	Subtract line 5 from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			6	fill in the blank a37235f8e011023_6
	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)	7
8	Divide line 3 by line 4. Enter the result as a decimal (rounded to at least three places)	8
9	Multiply line 6 by line 7. Enter the result here. See the instructions for where to report this amount on your return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	9
10	Multiply line 6 by line 8. Enter the result here. See the instructions for where to report this amount on your return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	10
11	Add lines 9 and 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			11	fill in the blank a37235f8e011023_7
12	Subtract line 11 from line 6. Include this amount in the total on Schedule 1 (Form 1040), line 8z. In the space next to that line, enter "Form 8814" and show the amount. If you checked the box on line C above, see the instructions. Go to line 13 below . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			12	fill in the blank a37235f8e011023_8

Part II

Tax on the First $2,200 of Child's Interest and Dividends

13	Amount not taxed. Enter 1,100 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			13	fill in the blank a37235f8e011023_9
14	Subtract line 13 from line 4. If the result is zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			14	fill in the blank a37235f8e011023_10
15	Tax. Is the amount on line 14 less than $1,100? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
	No. Enter $110 here and see the Note below.	}		15	fill in the blank a37235f8e011023_11
	Yes. Multiply line 14 by 10% (0.10). 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, 1040-SR, or 1040-NR, line 16. Be sure to check box 1 on Form 1040, 1040-SR, or 1040-NR, line 16.

For Paperwork Reduction Act Notice, see your tax return instructions.

Cat. No. 10750J

Form 8814 (2021)