Draft Excerpts From Form 1040 Family Of Instructions (Including Schedule Instructions) Page 3
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25Form 1040 — Line 43
Qualified Dividends and Capital Gain Tax Worksheet—Line 43
Keep for Your Records
Before you begin:
See the instructions for line 43 on page 33 to see if you can use this worksheet to
figure your tax.
If you do not have to file Schedule D and you received capital gain distributions,
be sure you checked the box on line 13 of Form 1040.
1. Enter the amount from Form 1040, line 42 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1.
2. Enter the amount from Form 1040, line 9b . . . . . . . . . . . . . . . . . . . . . 2.
3. Are you filing Schedule D?
Yes. Enter the smaller of line 15 or 16 of Schedule D, but
}
do not enter less than -0-
. . 3.
No. Enter the amount from Form 1040, line 13
4. Add lines 2 and 3
4.
5. If you are claiming investment interest expense on Form 4952, enter
the amount from line 4g of that form. Otherwise, enter -0- . . . . . . . . . 5.
6. Subtract line 5 from line 4. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . .6.
7. Subtract line 6 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . .7.
8. Enter the smaller of:
•
The amount on line 1 or
}
•
$29,050 if single or married filing separately,
. . . . . . . . .8.
$58,100 if married filing jointly or qualifying widow(er), or
$38,900 if head of household.
9. Is the amount on line 7 equal to or more than the amount on line 8?
Yes. Skip lines 9 through 11; go to line 12 and check the ‘‘No’’ box.
No. Enter the amount from line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9.
10. Subtract line 9 from line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
11. Multiply line 10 by 5% (.05) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11.
12. Are the amounts on lines 6 and 10 the same?
Yes. Skip lines 12 through 15; go to line 16.
No. Enter the smaller of line 1 or line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12.
13. Enter the amount from line 10 (if line 10 is blank, enter -0-) . . . . . . . . . . . . . . . . . . . .13.
14. Subtract line 13 from line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14.
15. Multiply line 14 by 15% (.15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15.
16. Figure the tax on the amount on line 7. Use the Tax Table or Tax Computation Worksheet, whichever
applies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16.
17. Add lines 11, 15, and 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17.
18. Figure the tax on the amount on line 1. Use the Tax Table or Tax Computation Worksheet, whichever
applies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18.
19. Tax on all taxable income. Enter the smaller of line 17 or line 18. Also include this amount on Form
1040, line 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19.
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