Draft Excerpts From Form 1040 Family Of Instructions (Including Schedule Instructions) Page 25
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25Qualified Dividends and Capital Gain Tax Worksheet—Line 28
Keep for Your Records
Before you begin:
Be sure you do not have to file Form 1040 (see the instructions for Form 1040A,
line 10, on page 23).
1. Enter the amount from Form 1040A, line 27 . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.
2. Enter the amount from Form 1040A, line 9b . . . . . . . . . . .
2.
3. Enter the amount from Form 1040A, line 10 . . . . . . . . . . .
3.
4. Add lines 2 and 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
5. Subtract line 4 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . .
5.
6. Enter the smaller of:
•
}
The amount on line 1, or
•
$29,050 if single or married filing separately,
. . . . . . . . . .
6.
$58,100 if married filing jointly or qualifying widow(er), or
$38,900 if head of household.
7. Is the amount on line 5 equal to or more than the amount on line 6?
Yes. Skip lines 7 through 9; go to line 10 and check the ‘‘No’’ box.
No.
Enter the amount from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Subtract line 7 from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
9. Multiply line 8 by 5% (.05) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. Are the amounts on lines 4 and 8 the same?
Yes. Skip lines 10 through 13; go to line 14.
No.
Enter the smaller of line 1 or line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
11. Enter the amount from line 8 (if line 8 is blank, enter -0-) . . . . . . . . . . . . . . . . . 11.
12. Subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
13. Multiply line 12 by 15% (.15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
14. Figure the tax on the amount on line 5. Use the Tax Table on pages 57– 62. Enter tax here . . . . . . . . 14.
15. Add lines 9, 13, and 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.
16. Figure the tax on the amount on line 1. Use the Tax Table on pages 57– 62. Enter tax here . . . . . . . . 16.
17. Tax on all taxable income. Enter the smaller of line 15 or line 16 here and on Form 1040A,
line 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.
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