Looking for a Form 8615 Templates? Download it for free!

a. Reduce the amount you would otherwise enter on

Using the Qualified Dividends and Capital Gain Tax

line 3 (but not below zero) by the line 8 capital gain

Worksheet for line 15 tax. If you use the Qualified

excess.

Dividends and Capital Gain Tax Worksheet to figure the

b. Reduce the amount you would otherwise enter on

line 15 tax, complete that worksheet as follows.

line 2 (but not below zero) by any of the line 8 capital

1. On line 1, enter the amount from Form 8615,

gain excess not used in (a) above.

line 14.

10. Complete lines 7 through 19 (lines 5 through 16 of

2. On line 2, enter the amount of the qualified

the worksheet in the Form 1040A instructions or lines 5

dividends included on Form 8615, line 14. (See Net

through 17 in the Form 1040NR instructions) following

capital gain and qualified dividends on line 14, earlier.)

the worksheet instructions. Use the parent’s filing status

3. On line 3, enter the amount of the net capital gain

to complete lines 8, 16, and 18 (lines 6, 13, and 15 of the

included on Form 8615, line 14. (See Net capital gain

worksheet in the Form 1040A instructions or lines 6, 14,

and qualified dividends on line 14, earlier.)

and 16 of the worksheet in the Form 1040NR

4. Complete line 4 following the worksheet

instructions).

instructions.

5. If you are completing the worksheet in the Form

Enter the amount from line 19 of the Qualified

1040 instructions, leave line 5 blank.

Dividends and Capital Gain Tax Worksheet (or line 16 of

6. Complete lines 6 through 19 (lines 5 through 16 of

the worksheet in the Form 1040A instructions or line 17

the worksheet in the Form 1040A instructions or lines 5

of this worksheet in the Form 1040NR instructions) on

through 17 of the worksheet in the Form 1040NR

Form 8615, line 9, and check the box on that line. Do not

instructions) following the worksheet instructions. Use the

attach this worksheet to the child’s return.

child’s filing status to complete lines 8, 16, and 18 of the

worksheet for Form 1040 (lines 6, 13, and 15 of the

Line 10

worksheet for Form 1040A or lines 6, 14, and 16 of the

If the parent filed a joint return, enter the tax shown on

worksheet for Form 1040NR).

that return even if the parent’s spouse is not the child’s

Enter the amount from line 19 of this Qualified

parent.

Dividends and Capital Gain Tax Worksheet (line 16 of the

If the Foreign Earned Income Tax Worksheet (in the

worksheet in the Form 1040A instructions or line 17 of

Form 1040 instructions) was used to figure the parent’s

the worksheet in the Form 1040NR instructions) on line

tax, enter the amount from line 4 of that worksheet,

15 of Form 8615 and check the box on that line. Do not

instead of the parent’s tax from Form 1040, line 44.

attach this worksheet to the child’s return.

Line 15

Using Schedule J (Form 1040) for line 15 tax. If line

14 includes any farming or fishing income (including

Figure the tax using the Tax Table, Tax Computation

certain amounts received in connection with the Exxon

Worksheet, Qualified Dividends and Capital Gain Tax

Valdez litigation), the tax may be less if you use

Worksheet, Schedule D Tax Worksheet, or Schedule J

Schedule J (Form 1040). See Pub. 929 for details on how

(Form 1040), whichever applies. If line 14 includes any

to figure the line 15 tax using Schedule J (Form 1040).

net capital gain or qualified dividends (see below), use

the Qualified Dividends and Capital Gain Tax Worksheet

Line 17

to figure this tax. However, if the child has to file

Figure the tax using the Tax Table, Tax Computation

Schedule D (Form 1040) and line 18 or line 19 of the

Worksheet, Qualified Dividends and Capital Gain Tax

child’s Schedule D (Form 1040) is more than zero, use

Worksheet, Schedule D Tax Worksheet, or Schedule J

the Schedule D Tax Worksheet to figure this tax instead.

(Form 1040), whichever applies. If line 4 includes any

See Pub. 929 for details on how to figure the line 15 tax

qualified dividends or net capital gain, use the Qualified

using the Schedule D Tax Worksheet.

Dividends and Capital Gain Tax Worksheet to figure the

Before using the Qualified Dividends and Capital Gain

tax unless the Schedule D Tax Worksheet has to be used

Tax Worksheet to figure the line 15 tax, you will need to

instead. If any farming or fishing income (including

know the amount of net capital gain and qualified

certain amounts received in connection with the Exxon

dividends, if any, included on line 14.

Valdez litigation) is included on line 4, the tax may be

Net capital gain and qualified dividends on line 14. If

less if you use Schedule J (Form 1040).

the child does not have any net capital gain or qualified

Child files Form 2555 or 2555-EZ. If line 4 includes

dividends, line 14 does not include any net capital gain or

any qualified dividends or net capital gain and the child

qualified dividends.

files Form 2555 or 2555-EZ, see Pub. 929 for instructions

If the child has net capital gain, the amount of net

on how to figure the line 17 tax.

capital gain included on line 14 is the amount from line 2

Line 18

of the child’s completed Line 5 Worksheet minus the

amount from the last line of that worksheet.

If the child files Form 2555 or 2555-EZ, do not enter the

If the child has qualified dividends, the amount of

amount from Form 8615, line 18, on the child’s Form

qualified dividends included on line 14 is the amount from

1040, line 44. Instead, enter the amount from Form 8615,

line 1 of the child’s completed Line 5 Worksheet minus

line 18, on line 4 of the child’s Foreign Earned Income

the amount from the next to the last line of that

Tax Worksheet (in the Form 1040 instructions). Then

worksheet.

complete the rest of the Foreign Earned Income Tax

Child files Form 2555 or 2555-EZ. If line 14 includes

Worksheet to figure the child’s tax.

any net capital gain or qualified dividends and the child

files Form 2555 or 2555-EZ, see Pub. 929 for instructions

on how to figure the line 15 tax.

-5-

Instructions for Form 8615 (2011)

Instructions For Form 8615 - Tax For Certain Children Who Have Investment Income Of More Than 1,900 - Internal Revenue Service - 2011 Page 5

Related Articles

Related forms

Related Categories