Instructions For Form 1040-Ss - U.s. Self-Employment Tax Return (Including The Additional Child Tax Credit For Bona Fide Residents Of Puerto Rico) - Internal Revenue Service - 2001 Page 7
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8Additional Child Tax Credit Worksheet—Part VII, Line 7
Keep for Your Records
1.
Do you have three or more qualifying children?
No. Stop. You cannot claim the credit.
Yes. Go to line 2.
2.
Number of qualifying children: _______× $600. Enter the result . . . . . . . . . . . . . . . . . . . . . . . . . 2.
3.
Enter the amount from Part VII, line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
4.
Enter the amount shown below for your filing status . . . . . . . . . . . . . . . . . . . . . . 4.
•
Married filing jointly — $110,000
•
Single — $75,000
•
Married filing separately — $55,000
5.
Is the amount on line 3 more than the amount on line 4?
No. Leave line 5 blank. Enter -0- on line 6.
Yes. Subtract line 4 from line 3. If the result is not a multiple of $1,000,
increase it to the next multiple of $1,000 (for example, increase $425 to
$1,000, increase $1,025 to $2,000, etc.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.
6.
Multiply the amount on line 5 by 5% (.05) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.
7.
Is the amount on line 2 more than the amount on line 6?
No. Stop. You cannot claim the credit.
Yes. Subtract line 6 from line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.
8.
Enter the total of any:
•
Amount from Part VII, line 6, plus
•
Employee social security and Medicare tax on tips not reported to
employer included on Part I, line 12, plus
•
Uncollected employee social security and Medicare tax included on
Part I, line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.
9.
Add the amounts from Parts I and V, lines 10 and 11. Enter one-half of
that total here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.
10. Add lines 8 and 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
11. Enter the amount, if any, from Part I, line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. Is the amount on line 10 more than the amount on line 11?
No. Stop. You cannot claim the credit.
Yes. Subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
13. Additional child tax credit. Enter the smaller of line 7 or line 12 here and on
Form 1040-SS, Part VII, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
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