This article will show you how to generate Form 8814 and how to enter your child's interest and dividend income in Lacerte.
How to enter your child's interest and dividend income:
- Go to Screen 44, Parent's Election (8814).
- Under General Information, select the child's name from the dropdown menu.
- If you haven't entered the child's name on Screen 2, Dependents, you won't see a dropdown menu option.
- Under the Interest Income and Dividend Income sections, enter any applicable information.
- Under the Child panel, select the child's name and then Add.
Reasons Form 8814 won't generate
Form 8814 won't generate unless the child and parents meet all of the conditions in the Form 8814 Instructions. The child must generally:
- Be under age 19 (or age 24 if a student) at the end of the year.
- Only have income from interest, dividends, and capital gain distributions.
- Have gross income for the year less than $11,000.
- Be required to file a tax return.
- Not file a joint tax return.
- Not have paid any estimated tax or had income tax withheld.