John M$.$ Reed is $10$ years old and may be claimed as a dependent on his parents return. In $2023,$ John received taxable interest of $$5,000\mathrm{.}00.$ He had no earned income. Johns parents are James Reed, whose social security is $801-77-5432,$ and Elaine Reed $($SS#$125-84-7799)$ Johns social security number is $759-42-1134.$ For $2023,$ James and Elaine file a joint return and elect to report Johns income on their return. Prepare a Form $8814$ for Mr$.$ and Mrs$.$ Reed along with the appropriate lines of the $1040$ and Schedule $1.$