T22, HP/2: 3328/2003 OG64 – 3
HOW TO File
Your Child”
2002 Tax
Return
Information for
Parents of Alaskan
Children
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§ IRS
Department of the Treasury
Internal Revenue Service
vvvvvv.irs.gov
Publication 3328 (Rev. Jan. 2003)
Cat. No. 26988/N







Which Tax Return To Use?
In Alaska, dependent” children must pay Federal
income tax if they receive the Alaska Permanent
Fund Dividend (APFD). It can be difficult for
parents to determine how to file the required tax
returns for their children.
Dependent Alaskan children under age 14 who
received the APFD in 2002 must pay a tax on a
portion of their unearned income at their parents’
tax rate. Unearned income includes the APFD,
interest, and dividends.
This publication covers the basic requirements
and refers you to other helpful publications.
* If you received Public Assistance, these rules may
not apply to your child. For details, call the IRS
at 1-800-829-1040 or visit your local IRS office.
If Your Child Is Under Age 14
on January 1, 2003:
Form 8814, “Parents’ Election To Report
Child’s Interest and Dividends.”
Parents of children meeting the conditions listed
below can elect to report their child’s interest and
dividends (including the APFD) on the parents’
Form 1040 using Form 8814. If the parents make
this election, their child will not have to file a
return for 2002. The parents can make this election
only if their child meets all of the following
conditions:
• Had income only from interest, dividends, or
APFD.
• Had gross income for 2002 that was less than
$7,500.
• Had no estimated tax payments for 2002
(including any overpayment of tax from his or
her 2001 return applied to 2002 estimated tax).
• Had no Federal income tax withheld from his or
her income.
An example of Form 8814 for a child who
received only the APFD is on the back. If the
parents elect to report their child’s unearned income
on the parents' Form 1040, Form 8814 must be
prepared and attached. A separate Form 8814 is
required for each child.
Form 8615, “Tax for Children Under
Age 14 Who Have Investment Income
of More Than $1,400.”
If your child received the APFD in 2002 and you do
not or cannot elect to report his or her unearned
income on your return, your child must file a Form
1040 or 1040A, and a Form 8615 must be
completed and attached to the return. Form 1040EZ
or TeleFile cannot be used.
If Your Child Is Age 14 or Older
on January 1, 2003,
and received the APFD, your child must file Form
1040, 1040A, 1040EZ, or TeleFile. Report the
APFD on line 21 of Form 1040, line 13 of Form
1040A, line 3 of Form 1040EZ, or line D of
TeleFile. A Form 8615 is not required.
Did Your Child Have
Backup Withholding?
If part of your child’s APFD was withheld because
of a missing or incorrect social security number, be
sure to claim credit for that amount on the child’s
tax return (line 62 of Form 1040, line 39 of Form
1040A, or line 7 of Form 1040EZ).
Additional Information
Publication 929, Tax Rules for Children and
Dependents, contains detailed information on Forms
8814 and 8615. It also contains information on
which parent’s tax rate to use when the parents are
separated or divorced. To get Publication 929 and/or
Forms 8814 and 8615, visit your local IRS office or
call 1-800-TAX-FORM (1-800-829-3676) to request
that these items be mailed to you. You may also
download these items from the IRS Web Site at
www.irs.gov. For more help, call the IRS at
1-800-829–1040.
881 4 Parents' Election To Report OMB No. 1545-1128
Form
Child’s Interest and Dividends 2002
Department of the Treasury * See instructions below and on back. Attachment
Internal Revenue Service P Attach to parents' Form 1040 or Form 1040NR. Sequence No. 40
Name(s) shown on your return Your social security number
Alaskan Parent xxx : xx xxxx
Caution: The Federal income tax on your child's income, including capital gain distributions, may be less if you file a separate tax
return for the child instead of making this election. This is because you cannot take certain tax benefits that your child could take
on his or her own return. For details, see Tax Benefits You May Not Take on the back.
A Child's name (first, initial, and last) e B Child's social security number
Alaskan Child xxx : xx : xxxx
"c if more than one Form 8814 is attached, check here . . . . . . . . . . . . . . . . . . . P. |
Part II Child's Interest and Dividends To Report on Your Return ZS
1a Enter your child's taxable interest. If this amount is different from the shown on the
child's Forms 1099-INT and 1099-OID, see the instructions . . . . tº ſº gº ta
b Enter your child's tax-exempt interest. Do not include this &s | |
amount on line 1 a ºn tº tº ºn g g g g g tº />
Ny
2 Enter your child's ordinary dividends, including any Alaska P9 Nºédividends If your 1.540 —
child received any ordinary dividends as a nominee, see the Ztions . . . . . . 2 y
3 Enter your child's capital gain distributions. If your child ré any capital gain distributions
as a nominee, see the instructions. gº ºn a tº tº 3- tº tº tº ºn 3
4 Add lines 1a, 2, and 3. If the total is $1,500 or less, and 6 and go to line 7. If the
total is $7,500 or more, do not file this form. Your/Chi ile his or her own return to report 1.540 –
the income . 4 y
Base amount . tº m 5 1, 500 || 00
"6 Subtract line 5 from line 4. If you chec on line C above or if you entered an amount
on line 3, see the instructions. Also, išAmount in the total on Form 1040, line 21, or
Form 1040NR, line 21. In the space ſº 21, enter “Form 8814” and show the amount.
Go to line 7 below. . . . . . . . . . . . . . . . . . . . . * 6 40 —
Tax on the First $1,500 of Chilö's Interest and Dividends
7 Amount not taxed . . . . . . . . . . . . . . . . . . . . . . 7 750 || 0 O
e e * 8 790 –
8 Subtract line 7 from line 4. If the result is zero or less, enter -0- . . . . . . . .
9 Tax. Is the amount on line 8 less than $750? 75
No. Enter $75 here and see the Note below. - e 9
[ ] Yes. Multiply line 8 by 10% (10). Enter the result here and see the Note below.
*
Note: If you checked the box on line C above, see the instructions. Otherwise, include the amount from line 9 in the tax you enter
on Form 1040, line 42, or Form 1040NR, line 40. Be sure to check box a on Form 1040, line 42, or Form 1040NR, line 40.
Yºru.S. GPO: 2003—494-244








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