Instructions For Form 8615 - 2011 Page 4
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6Net capital gain. Net capital gain is the smaller of the
gain, if any, on Schedule D (Form 1040), line 15, or the
Line 5 Worksheet #2
Keep for Your Records
gain, if any, on Schedule D (Form 1040), line 16. If
Schedule D (Form 1040) is not required, it is the amount
on line 13 of Form 1040, line 10 of Form 1040A, or line
14 of Form 1040NR.
Use this worksheet only if line 2 of the child’s Form 8615 is
Qualified dividends. Qualified dividends are those
more than $1,900 and lines 3 and 5 are the same amount.
dividends reported on line 9b of Form 1040 or Form
1040A or line 10b of Form 1040NR.
1. Enter the child’s qualified dividends . . . . . . .
Net capital gain and qualified dividends on line 8. If
2. Enter the child’s net capital gain . . . . . . . . .
neither the child, nor the parent, nor any other child has
net capital gain, the net capital gain on line 8 is zero.
3. Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . .
(The term “other child” means any other child whose
4. Divide line 1 by line 3. Enter the result as a
Form 8615 uses the tax return information of the parent
decimal (rounded to at least three places) . .
identified on Lines A and B of Form 8615.)
5. Enter the child’s itemized deductions directly
If neither the child, nor the parent, nor any other child
connected with the production of the child’s
has qualified dividends, the amount of qualified dividends
qualified dividends or net capital gain . . . . .
on line 8 is zero.
6. Multiply line 4 by line 5 . . . . . . . . . . . . . . . .
If the child, parent, or any other child has net capital
gain, figure the amount of net capital gain included on
7. Subtract line 6 from line 5 . . . . . . . . . . . . . .
line 8 by adding together the net capital gain amounts
8. Subtract line 7 from line 2 . . . . . . . . . . . . . .
included on lines 5, 6, and 7. If the child, parent, or any
other child has qualified dividends, figure the amount of
9. Subtract line 6 from line 1 . . . . . . . . . . . . . .
qualified dividends included on line 8 by adding together
10. Enter the amount from the child’s Form
the qualified dividend amounts included on lines 5, 6, and
8615, line 1 . . . . . . . . . . . . . . . . . . . . . . . .
7. Use the following discussions to find these amounts.
Net capital gain or qualified dividends on line 5. If
11. Divide line 1 by line 10. Enter the result as a
the child has a net capital gain or qualified dividends, use
decimal (rounded to at least three places).
the appropriate Line 5 Worksheet on this page to find the
Do not enter more than 1.000 . . . . . . . . . . .
amount of each included on line 5. These worksheets are
12. Divide line 2 by line 10. Enter the result as a
needed to adjust the child’s net capital gain and qualified
decimal (rounded to at least three places).
dividends by the appropriate allocated amount of the
Do not enter more than 1.000 minus the
child’s deductions.
amount on line 11 . . . . . . . . . . . . . . . . . . .
13. Multiply $950 by line 11 . . . . . . . . . . . . . . .
Line 5 Worksheet #1
14. Multiply $950 by line 12 . . . . . . . . . . . . . . .
Keep for Your Records
15. Qualified dividends on Form 8615, line 5.
Subtract line 13 from line 9 (but do not enter
less than zero or more than the amount on
Use this worksheet only if line 2 of the child’s Form 8615 is
Form 8615, line 5) . . . . . . . . . . . . . . . . . . .
$1,900 and lines 3 and 5 are the same amount.
16. Net capital gain on Form 8615, line 5.
Subtract line 14 from line 8 (but do not enter
1. Enter the child’s qualified dividends . . . . . . .
less than zero or more than the excess of
2. Enter the child’s net capital gain . . . . . . . . .
Form 8615, line 5, over line 15 of this
worksheet) . . . . . . . . . . . . . . . . . . . . . . . .
3. Enter the amount from the child’s Form 8615,
line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. Divide line 1 by line 3. Enter the result as a
decimal (rounded to at least three places).
Line 5 Worksheet #3
Do not enter more than 1.000 . . . . . . . . . . .
Keep for Your Records
5. Divide line 2 by line 3. Enter the result as a
decimal (rounded to at least three places).
Do not enter more than 1.000 . . . . . . . . . . .
Use this worksheet only if the child’s Form 8615, line 5, is less
6. Multiply $1,900 by line 4 . . . . . . . . . . . . . . .
than line 3.
7. Multiply $1,900 by line 5 . . . . . . . . . . . . . . .
1. Enter the child’s qualified dividends . . . . . . . .
8. Qualified dividends on Form 8615, line 5.
Subtract line 6 from line 1 (but do not enter
2. Enter the child’s net capital gain . . . . . . . . . .
less than zero or more than the amount on
3. Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . .
Form 8615, line 5) . . . . . . . . . . . . . . . . . . .
4. Divide line 1 by line 3. Enter the result as a
9. Net capital gain on Form 8615, line 5.
decimal (rounded to at least three places) . . .
Subtract line 7 from line 2 (but do not enter
5. If the child itemized deductions, enter the
less than zero or more than the excess of
child’s itemized deductions directly connected
Form 8615, line 5, over line 8 of this
with the production of the income on line 3 . . .
worksheet) . . . . . . . . . . . . . . . . . . . . . . . .
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Instructions for Form 8615 (2011)
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