Sentences with phrase «unearned income exceeds»

If you are an unmarried dependent student, you must file a tax return if your earned and / or unearned income exceeds certain limits.

If the gain is too large and the child's unearned income exceeds $ 2,100, you'll end up paying tax at 15 % on the gain, rather than the zero percent rate that is applicable for most children.

For dependents, you must file if your unearned income exceeds $ 1,050, your minimum earned income exceeds $ 6,350 or your total income exceeds the larger of $ 1,050 or your earned income plus $ 350.

Your child will need to file their own 2017 return if either unearned income exceeds the $ 1,050 threshold or earned income exceeds the $ 6,350 threshold, or if the total of unearned and earned income is more than the larger of $ 1,050 or the child's earned income (up to $ 6,000) plus $ 350.

Not exact matches

If the only income a child receives in a tax year is from unearned sources and exceeds $ 950, a separate tax return must be filed for the child.

On the other hand, $ 600 in earned income and $ 600 in unearned income would trigger the filing requirement because the combined income of $ 1,200 exceeds the combined income threshold of $ 1,050.

As of 2017, if someone else claims you as a dependent, you can't claim exemption from withholding if your income exceeds $ 1,050 and includes more than $ 350 of unearned income.

Under the Kiddy Tax, the unearned income of certain children that exceeds $ 2,000 (adjusted annually) is taxable at the parent's, rather than child's marginal tax rate.

The Kiddie Tax is applied to the amount of your child's unearned income that exceeds $ 2,100.

Higher - income taxpayers should be aware that they may be subject to an additional 3.8 % Medicare unearned income tax on net investment income (unearned income includes dividends) if their adjusted gross income exceeds $ 200,000 (single filers) or $ 250,000 (married joint filers).