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Schedule D is more than zero, use the

14. Divide line 3 by line 13. Enter

12. Divide line 2 by line 10. Enter

Schedule D Tax Worksheet in the

the result as a decimal

Instructions for Schedule D to figure the

(rounded to at least three

tax. See Pub. 929 for details on how to

places). Do not enter more than

places). Do not enter more

figure the line 9 tax using the Schedule

1.000 . . . . . . . . . . . . . . . . .

than 1.000 minus the amount

D Tax Worksheet.

on line 11 . . . . . . . . . . . . . .

15. Multiply line 12 by line 14 . . . .

Child files Form 2555 or 2555-EZ. If

13. Multiply $850 by line 11 . . . . .

16. Multiply line 15 by line 4 . . . .

line 8 includes any net capital gain or

17. Subtract line 16 from line 15 . .

14. Multiply $850 by line 12 . . . . .

qualified dividends and the child or any

18. Qualified dividends on Form

other child filing Form 8615 also files

15. Qualified dividends on Form

8615, line 5. Subtract line 16

Form 2555 or 2555-EZ, see Pub. 929

8615, line 5. Subtract line 13

from line 9. Enter the result

from line 9 (but do not enter

for instructions on how to figure the line

here (but do not enter less than

less than zero or more than

9 tax.

zero or more than the amount

the amount on Form 8615,

on Form 8615, line 5) . . . . . .

Using the Qualified Dividends and

line 5) . . . . . . . . . . . . . . . . .

Capital Gain Tax Worksheet for line 9

19. Net capital gain on Form

16. Net capital gain on Form

tax. If you use the Qualified Dividends

8615, line 5. Subtract line 17

8615, line 5. Subtract line 14

and Capital Gain Tax Worksheet to

from line 8 (but do not enter

figure the line 9 tax, complete that

less than zero or more than the

less than zero or more than

worksheet as follows.

excess of Form 8615, line 5,

the excess of Form 8615, line

over line 18 of this worksheet)

1. On line 1, enter the amount from

5, over line 15 of this

Form 8615, line 8.

worksheet) . . . . . . . . . . . . . .

* If you enter more than $117,300 on line 13, see

2. On line 2, enter the amount of

the Deduction for Exemptions Worksheet in the

qualified dividends included on Form

Form 1040, Form 1040A, or Form 1040NR

8615, line 8. (See the instructions for

instructions for the amount to enter on line 10.

line 8.)

3. On line 3, enter the amount of the

Net capital gain or qualified

net capital gain included on Form 8615,

dividends on line 6. If the parent has

line 8. (See the instructions for line 8.)

Line 5 Worksheet #3

a net capital gain, its full amount is the

4. Complete line 4 following the

Keep for Your Records

net capital gain included on line 6. If the

worksheet instructions.

parent has qualified dividends, the full

5. If you are completing the

amount is the amount of qualified

worksheet in the Form 1040

dividends included on line 6.

Use this worksheet only if the child’s Form

instructions, enter on line 5 the total of

8615, line 5, is less than line 3.

Net capital gain or qualified

the amounts, if any, on line 4g of all

dividends on line 7. The net capital

Forms 4952 filed by the child, parent, or

1. Enter the child’s qualified

gain included on line 7 is the total of the

any other child.

dividends . . . . . . . . . . . . . . .

amounts of net capital gain included on

6. Complete line 6 (line 5 of the

line 5 of the other children’s Forms

worksheet in the Form 1040A or Form

2. Enter the child’s net capital gain

8615. The qualified dividends included

1040NR instructions) following the

3. Add lines 1 and 2 . . . . . . . . .

on line 7 is the total of the amounts of

worksheet instructions.

4. Divide line 1 by line 3. Enter the

qualified dividends included on line 5 of

7. If the Foreign Earned Income Tax

result as a decimal (rounded to

the other children’s Forms 8615. Find

Worksheet was used to figure the

at least three places) . . . . . . .

these amounts for each other child as

parent’s tax, go to step 8 below.

5. If the child itemized deductions,

explained under Net capital gain or

Otherwise, skip steps 8, 9, and 10

enter the child’s itemized

qualified dividends on line 5 on page 2.

below, and go to step 11.

deductions directly connected

(Do not attach the other children’s

8. Determine whether there is a line

with the production of the

Forms 8615 to the child’s return.)

8 capital gain excess. To do this,

income on line 3 . . . . . . . . . .

subtract from line 1 of the worksheet

6. Multiply line 4 by line 5 . . . . .

Line 9

the amount on line 2 of the parent’s

Foreign Earned Income Tax

7. Subtract line 6 from line 5 . . .

Figure the tax using the Tax Table, Tax

Worksheet. Subtract the result from line

8. Subtract line 7 from line 2 . . .

Computation Worksheet, Qualified

6 of this Qualified Dividends and

Dividends and Capital Gain Tax

9. Subtract line 6 from line 1 . . .

Capital Gain Tax Worksheet (line 5 of

Worksheet, Schedule D Tax

the worksheet in the Form 1040A or

10. If the child can claim his or her

Worksheet, or Schedule J, whichever

Form 1040NR instructions). If the result

own exemption, enter $3,400*.

applies. If line 8 includes any net capital

is more than zero, that amount is the

Otherwise, enter -0- . . . . . . .

gain or qualified dividends, use the

line 8 capital gain excess. If the result is

11. If the child itemized deductions,

Qualified Dividends and Capital Gain

zero or less, there is no line 8 capital

enter the child’s itemized

Tax Worksheet in the Form 1040,

gain excess.

deductions not directly

1040A, or 1040NR instructions to figure

9. If there is no line 8 capital gain

connected with the production

the tax, unless you have to use the

excess, skip step 10 below and go to

of the income on line 3.

Schedule D Tax Worksheet or

step 11.

Otherwise, enter the child’s

Schedule J (see below).

standard deduction . . . . . . . .

10. If there is a line 8 capital gain

Schedule J. If any farming or fishing

excess, complete a second Qualified

12. Add lines 10 and 11 . . . . . . .

income is included on line 8, the tax

Dividends and Capital Gain Tax

13. Enter the child’s adjusted gross

may be less if you use Schedule J. If

Worksheet as instructed above and in

income (Form 1040, line 38;

Schedule J was used to figure the tax

step 11 below but in its entirety and

Form 1040A, line 22; or Form

on the parent’s return, see Pub. 929 for

with the following additional

1040NR, line 36) . . . . . . . . .

details on how to figure the tax.

modifications.

Schedule D Tax Worksheet. If the

a. Reduce the amount you would

child, parent, or another child has to file

otherwise enter on line 3 (but not below

Schedule D and line 18 or 19 of any

zero) by the line 8 capital gain excess.

-3-

Instructions For Form 8615 - Tax For Children Under Age 18 With Investment Income Of More Than 1700 D. - 2007 Page 3

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