Get California Form 3800

The first $1,250 of unearned income is covered by the kiddie tax's standard deduction, so it isn't taxed. The next $1,250 is taxed at the child's marginal tax rate. Anything above $2,500 is taxed at the parents' marginal tax rate.

Overview. The Young Child Tax Credit (YCTC) provides up to $1,083 per eligible tax return. California families qualify with earned income of $30,000 or less.

Use form FTB 3800, Tax Computation for Certain Children with Unearned Income, to figure the child's tax. Complete form FTB 3800 if all of the following apply: The child is 18 and under or a student under age 24 at the end of 2021. A child born on January 1, 2004, is considered to be age 18 at the end of 2021. 2021 Instructions for Form FTB 3800 - Franchise Tax Board - CA.gov ca.gov https://.ftb.ca.gov › forms › 2021-3800-instructions ca.gov https://.ftb.ca.gov › forms › 2021-3800-instructions

If the child's unearned income is more than $2,300, use Form 8615 to figure the child's tax. Unearned income is generally all income other than salaries, wages, and other amounts received as pay for work actually performed (earned income). 2022 Instructions for Form 8615 - IRS irs.gov https://.irs.gov › pub › irs-pdf irs.gov https://.irs.gov › pub › irs-pdf

"Unearned income" is income gained from a source other than employment, work, or other business activity. Money from work, by contrast, is "earned income." Unearned income includes all forms of investment income, including interest, dividends, most rent and royalty income.

Form 8615 must be filed with the child's tax return if all of the following apply: The child had more than $2,500 of unearned income. The child is required to file a tax return. What is Form 8615, Tax For Children Under Age 18? - TaxSlayer Support taxslayer.com https://support.taxslayer.com › en-us › articles › 360015... taxslayer.com https://support.taxslayer.com › en-us › articles › 360015...

Requirements for Children with Investment Income For each child under age 19 and student under age 24 who received more than $2,300 of investment income in 2022, complete Form 540NR and form FTB 3800, Tax Computation for Certain Children with Unearned Income, to figure the tax on a separate Form 540NR for your child. 2022 540NR Booklet | FTB.ca.gov ca.gov https://.ftb.ca.gov › forms › 2022-540nr-booklet ca.gov https://.ftb.ca.gov › forms › 2022-540nr-booklet

It applies to all children who are 18 years of age or under—or dependent full-time students between the ages of 19 and 24. The kiddie tax applies to most unearned income that a child receives and does not apply to any salary or wages.