Instructions for Form N-615 Computation of Tax for Children Under Age 14 Who Have Unearned Income of More Than $1,000 - Hawaii

This document contains official instructions for Form N-615 , Computation of Tax for Children Under Age 14 Who Have Unearned Income of More Than $1,000 - a form released and collected by the Hawaii Department of Taxation.

FAQ

Q: What is Form N-615?
A: Form N-615 is used to compute the tax for children under age 14 who have unearned income of more than $1,000 in Hawaii.

Q: Who needs to file Form N-615?
A: Children under age 14 who have unearned income of more than $1,000 in Hawaii need to file Form N-615.

Q: What is considered unearned income?
A: Unearned income includes interest, dividends, capital gains, and rental income.

Q: What is the purpose of Form N-615?
A: The purpose of Form N-615 is to calculate the tax liability for children with unearned income in Hawaii.

Q: Is there a threshold for filing Form N-615?
A: Yes, children under age 14 need to file Form N-615 only if their unearned income exceeds $1,000 in Hawaii.

Q: Are there any exemptions for filing Form N-615?
A: Yes, children under age 14 who have unearned income of $1,000 or less are exempt from filing Form N-615.

Q: When is the deadline to file Form N-615?
A: The deadline to file Form N-615 is the same as the regular tax return deadline, which is usually April 15th in Hawaii.

Q: Is Form N-615 only applicable in Hawaii?
A: Yes, Form N-615 is specific to Hawaii and is not applicable in other states.

Q: Do I need to attach any supporting documents with Form N-615?
A: Yes, you may need to attach copies of documents that support the income reported on Form N-615, such as dividend statements or interest income statements.