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Line 42

have a capital gain excess, subtract Form 8801, line 10, from

line 6 of your 2014 Qualified Dividends and Capital Gain Tax

Follow the instructions below to figure the amount to enter on

Worksheet (or line 10 of your 2014 Schedule D Tax Worksheet).

line 42.

If the result is more than zero, that amount is your capital gain

Form 1040. If you didn't complete the 2014 Qualified Dividends

excess.

and Capital Gain Tax Worksheet or the 2014 Schedule D Tax

If you have a capital gain excess, figure the amounts to enter

Worksheet, enter the amount from your 2014 Form 1040,

on lines 28, 29, and 30 of Form 8801 using the following

line 43; if less than zero, enter -0-. If you didn't complete either

modifications (only for purposes of Part III of Form 8801).

2014 worksheet and you filed a 2014 Form 2555 or Form

1. Reduce the amount on line 3 of your 2014 Qualified

2555-EZ, enter the amount from line 3 of the Foreign Earned

Dividends and Capital Gain Tax Worksheet or line 9 of your

Income Tax Worksheet in the 2014 Form 1040 instructions.

2014 Schedule D Tax Worksheet (but not below zero) by your

Form 1040NR. If you filed a 2014 Form 1040NR, enter the

capital gain excess.

amount from line 5 of your 2014 Qualified Dividends and Capital

2. Reduce the amount on line 2 of your 2014 Qualified

Gain Tax Worksheet in the Instructions for Form 1040NR,

Dividends and Capital Gain Tax Worksheet or line 6 of your

line 42, or the amount from line 19 of the 2014 Schedule D Tax

2014 Schedule D Tax Worksheet (but not below zero) by any of

Worksheet in the instructions for Schedule D (Form 1040),

your capital gain excess not used in (1).

whichever applies. If you didn't complete either 2014 worksheet,

3. Reduce the amount on your 2014 Schedule D (Form

enter the amount from your 2014 Form 1040NR, line 41; if zero

1040), line 18, (but not below zero) by your capital gain excess.

or less, enter -0-.

4. Include your capital gain excess as a loss on line 16 of

Line 54

your 2014 Unrecaptured Section 1250 Gain Worksheet in the

2014 Instructions for Schedule D (Form 1040).

If for 2014 you filed Form 1040NR and Form 8801, line 27, is

$182,500 or less ($91,250 or less if you checked filing status

Also see the instructions for line 35.

box 3, 4, or 5 on Form 1040NR for 2014), multiply line 27 by

26% (0.26). Otherwise, multiply line 27 by 28% (0.28) and

Line 33

subtract $3,650 ($1,825 if you checked filing status box 3, 4, or 5

If for 2014 you filed Form 1040NR and Form 8801, line 32, is

on Form 1040NR for 2014) from the result.

$182,500 or less ($91,250 or less if you checked filing status

box 3, 4, or 5 on Form 1040NR for 2014), multiply line 32 by

Paperwork Reduction Act Notice. We ask for the information

26% (0.26). Otherwise, multiply line 32 by 28% (0.28) and

on this form to carry out the Internal Revenue laws of the United

subtract $3,650 ($1,825 if you checked filing status box 3, 4, or 5

States. You are required to give us the information. We need it to

on Form 1040NR for 2014) from the result.

ensure that you are complying with these laws and to allow us to

figure and collect the right amount of tax.

Line 34

You aren't required to provide the information requested on a

If for 2014 you filed Form 1040NR, enter $36,900 ($73,800 if

form that is subject to the Paperwork Reduction Act unless the

you checked filing status box 6 on Form 1040NR for 2014).

form displays a valid OMB control number. Books or records

relating to a form or its instructions must be retained as long as

Line 35

their contents may become material in the administration of any

If for 2014 you filed Form 1040NR, enter on Form 8801, line 35,

Internal Revenue law. Generally, tax returns and return

the amount from line 5 of your 2014 Qualified Dividends and

information are confidential, as required by section 6103.

Capital Gain Tax Worksheet in the Instructions for Form

1040NR, line 42, or the amount from line 14 of your 2014

The time needed to complete and file this form will vary

Schedule D Tax Worksheet in the 2014 Instructions for

depending on individual circumstances. The estimated burden

Schedule D (Form 1040), whichever applies. If you didn't

for individual taxpayers filing this form is approved under OMB

complete either worksheet, enter the amount from Form

control number 1545-0074 and is included in the estimates

1040NR, line 41; if zero or less, enter -0-.

shown in the instructions for their individual income tax return.

The estimated burden for all other taxpayers who file this form is

Forms 2555 and 2555–EZ. If you filed either of these forms for

shown below.

2014 and you didn't complete either the Qualified Dividends and

Capital Gain Tax Worksheet or the Schedule D Tax Worksheet,

enter the amount from line 3 of the Foreign Earned Income Tax

Recordkeeping

2 hrs., 4 min.

. . . . . . . . . . . . . . . . . .

Worksheet in the Form 1040 instructions.

Learning about the law or the form

2 hrs., 13 min.

. . .

Preparing the form

1 hr., 57 min.

. . . . . . . . . . . . . . .

Line 40

Copying, assembling, and sending the

form to the IRS

48 min.

If for 2014 you filed Form 1040NR, use the following chart to

. . . . . . . . . . . . . . . .

figure the amount to enter on line 40.

IF you checked filing status box...

THEN enter on line 40...

If you have comments concerning the accuracy of these time

estimates or suggestions for making this form simpler, we would

1 or 2

$406,750

be happy to hear from you. See the instructions for the tax return

3, 4, or 5

$228,800

with which this form is filed.

$457,600

-5-

Instructions for Form 8801 (2015)

Instructions For Form 8801 - Credit For Prior Year Minimum Tax-Individuals, Estates-Trusts - 2015 Page 5

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