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Anonymous
Anonymous asked in Business & FinanceTaxesUnited States · 2 months ago

What is form 8615 (tax for certain children), and why am I required to fill it out?

I am a 21 y.o full time college student. I've never been required to fill this form out before. I filed only one W-2 (where I barely made any money & am barely getting anything from this refund). I take out student loans and use them for my student apartment and meal plan. I also filed my 1098-T. I read that this is for kids who have another source of income from savings by their parents, but I don't. I don't even have kids myself. Please help.

5 Answers

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  • 2 months ago

    i would ask a tax place about it

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  • 2 months ago

    if it doesnt concern you,dont fill it out ,but if your up to/it...call the number, on the per,that it should have...for ?? and concerns

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  • 2 months ago

    This form is not required unless you had more than $2,200 of unearned income.

    The money you made at your job which is on your W-2 is not unearned income. It is earned income.

    The student loans aren't unearned income either. Money you borrow and will be paying back is not considered income. (However, if you don't pay back the loan and they forgive or cancel the debt, that will be considered income.)

    If you don't have any unearned income, then you should not be filling out this form.

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  • Amy
    Lv 7
    2 months ago

    A scholarship (or part of it) can also be taxable income.

    If you really have no income other than what's reported on your W2, then you do not need to fill out this form. Who told you that you did?

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  • NA
    Lv 7
    2 months ago

    The form 8615 is for unearned income (anything that wasn't on a W-2, self-employment, or taxable scholarship income).  If you had nothing else like interest, dividends, capital gains, social security benefits...it should not apply.

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