Instruction For Schedule J - 2005 Page 3
ADVERTISEMENT
1
2
3
4
5
6
7
82002 Tax Rate Schedules—Line 8
Schedule Y-2 — Use if your 2002 filing status was
Schedule X — Use if your 2002 filing status was Single
Married filing separately
of the
of the
If Schedule J,
Enter on
If Schedule J,
Enter on
But not
amount
But not
amount
line 7, is:
Schedule J,
line 7, is:
Schedule J,
Over —
over —
over —
Over —
over —
over —
line 8
line 8
$0
$6,000
...........
10%
$0
$0
$6,000
...........
10%
$0
6,000
27,950
$600.00 +
15%
6,000
6,000
23,350
$600.00 +
15%
6,000
27,950
67,700
3,892.50 +
27%
27,950
23,350
56,425
3,202.50 +
27%
23,350
67,700
141,250
14,625.00 +
30%
67,700
56,425
85,975
12,132.75 +
30%
56,425
141,250
307,050
36,690.00 +
35%
141,250
85,975
153,525
20,997.75 +
35%
85,975
307,050
.............
94,720.00 +
38.6%
307,050
153,525
.............
44,640.25 +
38.6%
153,525
Schedule Y-1 — Use if your 2002 filing status was Married
Schedule Z — Use if your 2002 filing status was Head of
filing jointly or Qualifying widow(er)
household
If Schedule J,
Enter on
of the
If Schedule J,
Enter on
of the
line 7, is:
But not
Schedule J,
amount
line 7, is:
But not
Schedule J,
amount
Over —
over —
line 8
over —
Over —
over —
line 8
over —
$0
$12,000
..........
10%
$0
$0
$10,000
...........
10%
$0
12,000
46,700
$1,200.00 +
15%
12,000
10,000
37,450
$1,000.00 +
15%
10,000
46,700
112,850
6,405.00 +
27%
46,700
37,450
96,700
5,117.50 +
27%
37,450
112,850
171,950
24,265.50 +
30%
112,850
96,700
156,600
21,115.00 +
30%
96,700
171,950
307,050
41,995.50 +
35%
171,950
156,600
307,050
39,085.00 +
35%
156,600
307,050
............
89,280.50 +
38.6%
307,050
307,050
.............
91,742.50 +
38.6%
307,050
•
The 2002 Capital Gain Tax Work-
39, or on the Schedule D Tax Worksheet,
Line 8
sheet below, or
lines 15 and 36).
•
If line 7 is zero, enter -0- on line 8. Other-
The Schedule D you filed for 2002
(but use the 2002 Tax Rate Schedules
wise, figure the tax on the amount on line 7
using:
above instead of the 2002 Tax Table when
•
figuring the tax on Schedule D, lines 25 and
The 2002 Tax Rate Schedules above,
2002 Capital Gain Tax Worksheet—Line 8
Keep for Your Records
Use this worksheet only if you entered capital gain distributions directly on line 13 of your 2002 Form 1040 (or line 10 of your 2002
Form 1040A) and checked the box on that line and elected farm income included on Schedule J, lines 5 and 6, does not include any
net capital gain.
1.
Amount from Schedule J, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.
2.
Amount from your 2002 Form 1040, line 13 (or Form 1040A, line 10) . . . . . .
2.
3.
Subtract line 2 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . .
3.
4.
Figure the tax on the amount on line 3. Use the 2002 Tax Rate Schedules above . . . . . . . . . . . . . . . .
4.
5.
Enter the smaller of:
•
The amount on line 1 above or
}
•
$27,950 if single for 2002; $46,700 if married filing
. . . . . . . . . . .
5.
jointly or qualifying widow(er); $23,350 if married
filing separately; or $37,450 if head of household.
6.
Enter the amount from line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7.
Subtract line 6 from line 5. If zero or less, enter -0- and go to line 9 . . . . . . . .
7.
8.
Multiply line 7 by 10% (.10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
9.
Enter the smaller of line 1 or line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10.
Enter the amount from line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.
11.
Subtract line 10 from line 9. If zero or less, enter -0- and go to line 13 . . . . . .
11.
12.
Multiply line 11 by 20% (.20) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12.
13.
Add lines 4, 8, and 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13.
14.
Figure the tax on the amount on line 1. Use the 2002 Tax Rate Schedules above . . . . . . . . . . . . . . . .
14.
15.
Tax. Enter the smaller of line 13 or line 14 here and on Schedule J, line 8 . . . . . . . . . . . . . . . . . . . .
15.
J-3
ADVERTISEMENT
0 votes
Related Articles
Related forms
Instructions For Schedule J (form 1118) - Adjustments To Separate Limitation Income (loss) Categories For Determining Numerators Of Limitation Fractions
Financial
Instructions For Schedule J (form 1040) - Income Averaging For Farmers And Fishermen - 2017
Financial
Instructions For Schedule J - Funeral Expenses And Expenses Incurred In Administering Property Subject To Claims
Financial
Related Categories
Parent category: Financial