Form Ri-1040 - Rhode Island Resident Individual Income Tax Return 2001 Page 3
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52001
RI-1040
Name(s) shown on Form RI-1040
Your social security number
RHODE ISLAND SCHEDULE D
PART 1
TAX COMPUTATION USING MAXIMUM CAPITAL GAINS RATES
(FOR TAXPAYERS WHO FIGURE THEIR TAX ON FEDERAL FORM SCHEDULE D)
Column C
Column A
Column B
(col. A x col B.)
1. RI Taxable Income - RI-1040, line 7……………………………………………………………………………..
1.
X 2.04% =
2. 8% capital gains - Federal Schedule D, line 30 or Federal Schedule D Worksheet, line 18……………
2.
X 2.55% =
3. 10% capital gains - Federal Schedule D, line 32 or Federal Schedule D Worksheet, line 20…………………
3.
X 5.10% =
4. 20% capital gains - Federal Schedule D, line 36 or Federal Schedule D Worksheet, line 24………………
4.
X 6.38% =
5. 25% capital gains - Federal Schedule D Tax Worksheet, line 30 - enter in column A…………………….
5.
X 7.14% =
6. 28% capital gains - Federal Schedule D Tax Worksheet, line 33 - enter in column A…………………
6.
7. Total capital gains - add lines 2, 3, 4, 5, and 6 from column A………………………………………………………
7.
8. Tax on RI capital gain income - add lines 2, 3, 4, 5 and 6 from column C…………………………………………………………………………………………
8.
9. RI ordinary income - subtract line 7 from line 1…………………………………………………………………..
9.
10. RI tax on amount on line 9 - use RI Tax Table or RI Tax Rate Schedules……………………………………………………………………………………………………………..
10.
11. RI tax on capital gain income and ordinary income - add lines 8 and 10………………………………………………………………………………………..
11.
12. RI tax on amount on line 1 - use RI Tax Table or RI Tax Rate Schedules……………………………………………………………………………………..
12.
13. Total RI income tax - (the smaller of line 11 or line 12)……………………………………………………………………………………………………………
13.
IF YOU HAVE NO TAX REPORTED ON FEDERAL FORMS 4972, 8814, 8615 OR NO RECAPTURE OF FEDERAL TAX CREDITS,
ENTER AMOUNT FROM LINE 13 ON LINE 19 BELOW. OTHERWISE, CONTINUE TO PARTS 2, 3, 4 AND 5.
PART 2
TAX ON LUMP-SUM DISTRIBUTIONS
Column C
(FOR TAXPAYERS WHO FILED FEDERAL FORM 4972)
Column A
Column B
(col. A x col. B)
X 25.5% =
14. Federal Form 4972, line 30 - enter in column A……………………………………………………………………………
14.
PART 3
PARENTS' ELECTION TO REPORT CHILD'S INTEREST AND DIVIDENDS OR
TAX FOR CHILDREN UNDER AGE 14 WHO HAVE INVESTMENT INCOME
(FOR TAXPAYERS WHO FILED FEDERAL FORM 8814 or 8615)
Column C
Column A
Column B
(col. A x col. B)
X 25.5% =
15. Federal Form 8814, line 9 - enter in column A………………………………………………………………………………
15.
X 25.5% =
16. Federal Form 8615, line 18 - enter in column A……………………………………………………………………………
16.
17. Total - add line 15, column C and line 16, column C………………………………………………………………………………………………………………………………………………
17.
PART 4
RECAPTURE OF FEDERAL TAX CREDITS
(FOR TAXPAYERS WHO HAVE A RECAPTURE OF FEDERAL TAX CREDITS INCLUDED IN THEIR TAX)
Column C
Column A
Column B
(col. A x col. B)
X 25.5% =
18. Amount of recapture of Federal tax credits - enter in column A…………………………………………………….
18.
PART 5
TOTAL OF PARTS 1, 2, 3 AND 4
19. Total - add part 1, line 13; part 2, line 14, column C; part 3, line 17, column C and part 4, line 18, column C.
Enter here and on RI-1040, page 1, line 8 and check the RI schedule D box……………………………………………………………………………….
19.
page 3
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