asked

A 17-year-old dependent received $17,000 in unemployment and is required to complete Form 8615 due to unearned income exceeding $2,200. After completing the parents' income section, the child owes $4,000 in federal taxes, even though taxes were taken out of her unemployment. Is this correct, and is there anything that can be done to prevent this?

April 5th, 2024

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