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Financial Planning / Tax Strategies


Subject:  Re: Loss of Job Date:  1/26/2006  2:39 PM
Author:  reallyalldone Number:  83045 of 127753

I've also seen all the income reported on the parent's return when the parents don't want to reveal their income to their children. The parents' taxable income must be reported on Form 8615 when the "kiddie tax" is calculated.

Interesting point. Thinking further, this can only happen through age 13 and the parent is still responsible for signing and filing the return. Are they somehow required to show it to their kids ?

(I seem to remember showing them their returns - insert long story about Colorado TABOR law here)


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