Minor's unearned income

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    I will be filing 1040 for my minor son who would have some unearned income, but no earned income.

    With the new TCJA, the kiddie tax calculations have changed, somewhat for the better for unearned income in the low thousands. At this time, without the help of any tax software it is difficult to get a handle on the contours. But I need to complete the transactions before Dec 31.

    How much unearned income can I comfortably generate to stay within 0% LTCG bracket? Am I correct in reading the threshold as $4,650? ($4,650 = $2,100 + $2,550)

    Also, how will the AGI calculations change for feeding into the ACA calculations? I take it the new AGI will be the line 7 from page 2 of the draft 1040 form. That being the case, since there is no personal exemption, AGI will be straight up total of all incomes, correct? i.e. in this case, how much ever unearned income I end up generating.



    Trying once again to see if I can get any replies before Christmas to guide me in the transactions before year end.


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    Child tax includes unearned income a child receives: interest, dividends, capital gains, rent, and royalties. Child tax is not subject to any wages or salaries that the child earns. Children who turn 20 at the end of the tax year – or 24 in the case of dependent full-time students – are not subject to child tax by professional essay writing service uk


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