IS: Kiddie Tax and Form 8814 and Form 8615

General Description:

The Individual Series of classes is designed for tax return preparers and new tax professionals. Participants will learn the underlying authority for, and possible complexity of, seemingly simple tax questions, and how that authority ties into tax software programs and preparation of the tax return for an individual. This course specifically addresses the Kiddie Tax.

Learning Objective:

After completing this course the participant will be able to:

• Calculate taxable income for an individual who qualifies as a dependent on another person's tax return.
• Calculate the Kiddie Tax using a series of problems illustrating various fact patterns.
• File Form 8814, Parent's Election to Report Child's Interest and Dividends, or Form 8615, Tax for Certain Children Who Have Unearned Income.
• Calculate the difference in total tax using Form 8814 or Form 8615.
• Implement strategies for avoiding Kiddie Tax.
• Calculate the 3.8% tax on net investment income.
• Describe the changes made to the Kiddie Tax calculation by the SECURE Act.

Instructors:

Mark A. Vogel is a retired professor and director of the University of Denver Graduate Tax Program, where for 38 years he taught courses in individual, fiduciary, tax accounting, partnership, and corporate taxation. He is the author of Divorce Taxation Guide (John Wiley & Sons) and Individual Taxation (Shepards/McGraw-Hill). He received a J.D. and LL.M. in Taxation from the University of Denver College of Law and an undergraduate accounting degree from the University of Notre Dame. He is also a CPA licensed in Illinois.

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