en.williams[at]gmail.com wrote:

- quote -

If your children have capital gains, you cannot include
their income on your return -- period. You may use form
8615 and include your childrens' income on your return only
when they have just dividends and interest income. Any
child that has a capital gain (or loss) must file his/her
own return.

Thus, you cannot combine your losses with their gains to
reduce total taxes.

Lanny K. Williams, CPA
Nawarat, Williams & Co., Ltd.
Income Tax Services for Expatriate Americans

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ken.willi...[at]gmail.com wrote:

- quote -

If this is the conclusion you have come to, you have
correctly read the instructions. Congratulations/

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- quote -

You cannot offset the childrens' capital gains with your
capital loss.

Frederick Lorca

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I have to file form 8615 for my children and have a unique
situation. I have a long term capital loss (greater than
$3000) and my children have long term cap gains.

When combing the parents income and the children's income
and computing the children's tax at the parent's rate, is
there a way to combine my entire loss with the children's
gain? The worksheets seem not to provide for this.

This has some benefits when comparing the tax at the
children's rate versus the children's tax at the parent's
incremental rate.

Thanks

Ken

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >