8615 Tax for Children Under Age 18 With Investment Income of

2007 Form 8615
Tax for Children Under Age 18 With Investment Income
of More Than $1,700
Purpose:

This is the first circulated draft of the 2007 Form 8615 for your
review and comments.

TPCC Meeting:

None, but may be arranged if requested.

Prior Version:

The 2006 Form 8615 can be viewed by clicking on the following
link:
http://www.irs.gov/pub/irs-pdf/f8615.pdf

Other Products:

Circulations of draft tax forms, instructions, notices, and
publications are posted at:
http://taxforms.web.irs.gov/draft_products.html

Comments:

Please email, fax, call, or mail any comments by May 26, 2007.

Robert G. Black
Tax Law Specialist
Tax Forms and Publications
SE:W:CAR:MP:T:I:P

Email: Robert.G.Black@irs.gov
Phone: (202) 283-6634
Fax:
(202) 283-0001

Explanation of Major Changes to Form 8615
•
•
•

Revised years as appropriate.
Line 10 was revised to update line reference to Form 1040EZ.
Line 10 was also revised to reflect the fact that tax from Part III of
Form 8889, Health Savings Accounts (HSAs), or from recapture of an
education credit should not be included on that line. These taxes are
included on Form 1040, line 44 (or Form 1040NR, line 41) because
they are taxes imposed by chapter 1, but they should not be included
on Form 8615, line 10, because they are not taxes imposed by
section 1. IRC 1(g)(3)(A)(ii); IRC 26(b); P. L. 109-432, sections 302,
305, and 307; TD 9034.

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I.R.S. SPECIFICATIONS
TO BE REMOVED BEFORE PRINTING
INSTRUCTIONS TO PRINTERS
FORM 8615, PAGE 1 of 2 (PAGE 2 IS BLANK)
MARGINS: TOP 13 mm (1⁄ 2 "), CENTER SIDES.
PRINTS: HEAD to HEAD
PAPER: WHITE WRITING, SUB. 20.
INK: BLACK
FLAT SIZE: 216 mm (81⁄ 2 ") 3 279 mm (11")
PERFORATE: (NONE)
DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

8615

Department of the Treasury
Internal Revenue Service (99)

Action

Date

O.K. to print
Revised proofs
requested

OMB No. 1545-0074

Tax for Children Under Age 18
With Investment Income of More Than $1,700
©

Child’s name shown on return

Signature

2007

f
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D /20
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Attach only to the child’s Form 1040, Form 1040A, or Form 1040NR.
© See separate instructions.

Attachment
Sequence No.

33

Child’s social security number

Before you begin: If the child, the parent, or any of the parent’s other children under age 18 must use the Schedule D Tax

A

Worksheet or has income from farming or fishing, see Pub. 929, Tax Rules for Children and Dependents. It
explains how to figure the child’s tax using the Schedule D Tax Worksheet or Schedule J (Form 1040).
Parent’s name (first, initial, and last). Caution: See instructions before completing.
B Parent’s social security number

C

Parent’s filing status (check one):

Single

Part I
1
2
3
4
5

7
8
9

Married filing separately

Head of household

Enter the child’s investment income (see instructions)
If the child did not itemize deductions on Schedule A (Form 1040 or Form 1040NR), enter
$1,700. Otherwise, see instructions
Subtract line 2 from line 1. If zero or less, stop; do not complete the rest of this form but do
attach it to the child’s return
Enter the child’s taxable income from Form 1040, line 43; Form 1040A, line 27; or Form 1040NR,
line 40. If the child files Form 2555 or 2555-EZ, see the instructions
Enter the smaller of line 3 or line 4. If zero, stop; do not complete the rest of this form but do
attach it to the child’s return

Part II
6

Married filing jointly

Qualifying widow(er)

Child’s Net Investment Income

1
2
3
4
5

Tentative Tax Based on the Tax Rate of the Parent

Enter the parent’s taxable income from Form 1040, line 43; Form 1040A, line 27; Form 1040EZ,
line 6; Form 1040NR, line 40; or Form 1040NR-EZ, line 14. If zero or less, enter -0-. If the parent
files Form 2555 or 2555-EZ, see the instructions
Enter the total, if any, from Forms 8615, line 5, of all other children of the parent named
above. Do not include the amount from line 5 above
Add lines 5, 6, and 7 (see instructions)
Enter the tax on the amount on line 8 based on the parent’s filing status above (see instructions).
If the Qualified Dividends and Capital Gain Tax Worksheet, Schedule D Tax Worksheet, or
©
Schedule J (Form 1040) is used to figure the tax, check here

Enter the parent’s tax from Form 1040, line 44; Form 1040A, line 28, minus any alternative
minimum tax; Form 1040EZ, line 10; Form 1040NR, line 41; or Form 1040NR-EZ, line 15. Do not
include any tax from Form 4972, 8814, or 8889 or any tax from recapture of an education credit.
If the parent files Form 2555 or 2555-EZ, see the instructions. If the Qualified Dividends and
Capital Gain Tax Worksheet, Schedule D Tax Worksheet, or Schedule J (Form 1040) was used to
©
figure the tax, check here
11 Subtract line 10 from line 9 and enter the result. If line 7 is blank, also enter this amount on line
13 and go to Part III
12a
12a Add lines 5 and 7
b Divide line 5 by line 12a. Enter the result as a decimal (rounded to at least three places)
13 Multiply line 11 by line 12b

6
7
8

9

10

Part III

10
11
12b
13

.

Child’s Tax—If lines 4 and 5 above are the same, enter -0- on line 15 and go to line 16.
14

14

Subtract line 5 from line 4

15

Enter the tax on the amount on line 14 based on the child’s filing status (see instructions). If
the Qualified Dividends and Capital Gain Tax Worksheet, Schedule D Tax Worksheet, or
©
Schedule J (Form 1040) is used to figure the tax, check here

15

16

Add lines 13 and 15

16

17

Enter the tax on the amount on line 4 based on the child’s filing status (see instructions). If
the Qualified Dividends and Capital Gain Tax Worksheet, Schedule D Tax Worksheet, or
©
Schedule J (Form 1040) is used to figure the tax, check here
Enter the larger of line 16 or line 17 here and on the child’s Form 1040, line 44; Form 1040A,
line 28; or Form 1040NR, line 41. If the child files Form 2555 or 2555-EZ, see the instructions

17

18

3

For Paperwork Reduction Act Notice, see the instructions.

Cat. No. 64113U
Printed on recycled paper

18
Form

8615

(2007)