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b. Reduce the amount you would

line 14 is the amount from line 2 of the

Dividends and Capital Gain Tax

otherwise enter on line 2 (but not below

child’s completed Line 5 Worksheet

Worksheet, Schedule D Tax

zero) by any of the line 8 capital gain

minus the amount from the last line of

Worksheet, or Schedule J, whichever

excess not used in (a) above.

that worksheet.

applies. If line 4 includes any qualified

11. Complete lines 7 through 19

dividends or net capital gain, use the

If the child has qualified dividends,

(lines 6 through 17 of the worksheet in

Qualified Dividends and Capital Gain

the amount of qualified dividends

the Form 1040A or Form 1040NR

Tax Worksheet to figure the tax unless

included on line 14 is the amount from

instructions) following the worksheet

the Schedule D Tax Worksheet has to

line 1 of the child’s completed Line 5

instructions. Use the parent’s filing

be used instead. If any farming or

Worksheet minus the amount from the

status to complete lines 8, 16, and 18

fishing income is included on line 4, the

next to the last line of that worksheet.

(lines 6, 14, and 16 of the worksheet in

tax may be less if you use Schedule J.

Child files Form 2555 or 2555-EZ. If

the Form 1040A or Form 1040NR

Child files Form 2555 or 2555-EZ. If

line 14 includes any net capital gain or

instructions).

line 4 includes any qualified dividends

qualified dividends and the child files

or net capital gain and the child files

Form 2555 or 2555-EZ, see Pub. 929

Enter the amount from line 19 of the

Form 2555 or 2555-EZ, see Pub. 929

for instructions on how to figure the line

Qualified Dividends and Capital Gain

for instructions on how to figure the line

15 tax.

Tax Worksheet (or line 17 of the

17 tax.

Using the Qualified Dividends and

worksheet in the Form 1040A or Form

Capital Gain Tax Worksheet for line

1040NR instructions) on Form 8615,

Line 18

15 tax. If you use the Qualified

line 9, and check the box on that line.

If the child files Form 2555 or 2555-EZ,

Dividends and Capital Gain Tax

Do not attach this worksheet to the

do not enter the amount from Form

Worksheet to figure the line 15 tax,

child’s return.

8615, line 18, on the child’s Form 1040,

complete that worksheet as follows.

Line 10

line 44. Instead, enter the amount from

1. On line 1, enter the amount from

Form 8615, line 18, on line 4 of the

Form 8615, line 14.

If the parent filed a joint return, enter

child’s Foreign Earned Income Tax

2. On line 2, enter the amount of the

the tax shown on that return even if the

Worksheet. (Use the Foreign Earned

qualified dividends included on Form

parent’s spouse is not the child’s

Income Tax Worksheet in Pub. 4655,

8615, line 14. (See Net capital gain and

parent.

not the worksheet on page 34 of the

qualified dividends on line 14 on this

If the Foreign Earned Income Tax

2007 Instructions for Form 1040.) Then

page.)

Worksheet was used to figure the

complete the rest of the Foreign Earned

3. On line 3, enter the amount of the

parent’s tax, enter the amount from line

Income Tax Worksheet to figure the

net capital gain included on Form 8615,

4 of the parent’s Foreign Earned

child’s tax.

line 14. (See Net capital gain and

Income Tax Worksheet, instead of the

qualified dividends on line 14 on this

Paperwork Reduction Act Notice.

parent’s tax from Form 1040, line 44.

page.)

We ask for the information on this form

(The parent must use the Foreign

4. Complete line 4 following the

to carry out the Internal Revenue laws

Earned Income Tax Worksheet in Pub.

worksheet instructions.

of the United States. You are required

4655, not the worksheet on page 34 of

5. If you are completing the

to give us the information. We need it to

the 2007 Instructions for Form 1040.)

worksheet in the Form 1040

ensure that you are complying with

instructions, leave line 5 blank.

Line 15

these laws and to allow us to figure and

6. Complete lines 6 through 19

collect the right amount of tax.

Figure the tax using the Tax Table, Tax

(lines 5 through 17 of the worksheet in

You are not required to provide the

Computation Worksheet, Qualified

the Form 1040A or Form 1040NR

information requested on a form that is

Dividends and Capital Gain Tax

instructions) following the worksheet

subject to the Paperwork Reduction Act

Worksheet, Schedule D Tax

instructions. Use the child’s filing status

unless the form displays a valid OMB

Worksheet, or Schedule J, whichever

to complete lines 8, 16, and 18 of the

control number. Books or records

applies. If line 14 includes any net

worksheet for Form 1040 (lines 6, 14,

relating to a form or its instructions

capital gain or qualified dividends (see

and 16 of the worksheet for Form

must be retained as long as their

below), use the Qualified Dividends and

1040A or Form 1040NR).

contents may become material in the

Capital Gain Tax Worksheet to figure

administration of any Internal Revenue

Enter the amount from line 19 of this

this tax. However, if the child has to file

law. Generally, tax returns and return

Qualified Dividends and Capital Gain

Schedule D and line 18 or line 19 of the

information are confidential, as required

Tax Worksheet (line 17 of the

child’s Schedule D is more than zero,

by Internal Revenue Code section

use the Schedule D Tax Worksheet to

worksheet in the Form 1040A or Form

6103.

1040NR instructions) on line 15 of Form

figure this tax instead. See Pub. 929 for

8615 and check the box on that line. Do

details on how to figure the line 15 tax

The average time and expenses

not attach this worksheet to the child’s

using the Schedule D Tax Worksheet.

required to complete and file this form

return.

will vary depending on individual

Before using the Qualified Dividends

circumstances. For the estimated

Using Schedule J for line 15 tax. If

and Capital Gain Tax Worksheet to

averages, see the instructions for your

line 14 includes any farming or fishing

figure the line 15 tax, you will need to

income tax return.

income, the tax may be less if you use

know the amount of net capital gain

Schedule J. See Pub. 929 for details on

and qualified dividends, if any, included

If you have suggestions for making

how to figure the line 15 tax using

on line 14.

this form simpler, we would be happy to

Schedule J.

hear from you. See the instructions for

Net capital gain and qualified

your income tax return.

dividends on line 14. If the child does

Line 17

not have any net capital gain or

qualified dividends, line 14 does not

Figure the tax using the Tax Table, Tax

include any net capital gain or qualified

Computation Worksheet, Qualified

dividends.

If the child has net capital gain, the

amount of net capital gain included on

-4-

Instructions For Form 8615 - Tax For Children Under Age 18 With Investment Income Of More Than 1700 D. - 2007 Page 4

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