Instructions For Form 8801 - 2010 (Page 4 of 4) in pdf

D (Form 1040) or page 8 of the 2009 Instructions for Schedule

box 3, 4, or 5 on Form 1040NR for 2009), multiply line 34 by

D (Form 1041), whichever applies.

26% (.26). Otherwise, multiply line 34 by 28% (.28) and subtract

•

Complete lines 2 through 4 of the Qualified Dividends Tax

$3,500 ($1,750 if you checked filing status box 3, 4, or 5 on

Worksheet on page 27 of the 2009 Instructions for Form 1041.

Form 1040NR for 2009) from the result.

•

Complete lines 18 through 22 of the 2009 Schedule D (Form

Line 36

1041).

If for 2009 you filed Form 1040NR, enter $33,950 ($67,900 if

To determine which worksheet or form above applies to you,

you checked filing status box 6 on Form 1040NR for 2009).

see the 2009 Instructions for Form 1040, line 44; Form

1040NR, line 41; or Form 1041, Schedule G, line 1a.

Line 37

Lines 30, 31, and 32

If for 2009 you filed Form 1040NR, enter on Form 8801, line

37, the amount from line 5 of your 2009 Qualified Dividends and

Follow the instructions below to figure the amounts to enter on

Capital Gain Tax Worksheet in the Instructions for Form

lines 30, 31, and 32 if, for 2009:

1040NR, line 41, or the amount from line 14 of your 2009

1. You filed Form 1040NR and did not use the Schedule D

Schedule D Tax Worksheet on page D-10 of the 2009

Tax Worksheet to figure your tax,

Instructions for Schedule D (Form 1040), whichever applies. If

2. You filed Form 1041 and did not use the Schedule D Tax

you did not complete either worksheet, enter -0-.

Worksheet or Part V of Schedule D (Form 1041) to figure your

Line 46

tax, or

3. You filed Form 2555 or 2555-EZ and have a capital gain

If for 2009 you filed Form 1040NR and Form 8801, line 29, is

excess (defined later).

$175,000 or less ($87,500 or less if you checked filing status

box 3, 4, or 5 on Form 1040NR for 2009), multiply line 29 by

Otherwise, complete lines 30, 31, and 32 following the

26% (.26). Otherwise, multiply line 29 by 28% (.28) and subtract

instructions for those lines on the form.

$3,500 ($1,750 if you checked filing status box 3, 4, or 5 on

Form 1040NR. If (1) above applies, enter the amount from line

Form 1040NR for 2009) from the result.

4 of the Qualified Dividends and Capital Gain Tax Worksheet in

the 2009 Form 1040NR instructions on Form 8801, lines 30 and

Paperwork Reduction Act Notice. We ask for the information

32; skip Form 8801, line 31; and enter on Form 8801, line 37,

on this form to carry out the Internal Revenue laws of the United

the amount from line 5 of that worksheet.

States. You are required to give us the information. We need it

Estates and trusts. If (2) above applies, enter the amount

to ensure that you are complying with these laws and to allow

from line 4 of the Qualified Dividends Tax Worksheet in the

us to figure and collect the right amount of tax.

2009 Form 1041 instructions on Form 8801, lines 30 and 32;

You are not required to provide the information requested on

skip Form 8801, line 31; and enter on Form 8801, line 37, the

a form that is subject to the Paperwork Reduction Act unless

amount from line 5 of that worksheet.

the form displays a valid OMB control number. Books or

Forms 2555 and 2555-EZ. If you filed either of these forms for

records relating to a form or its instructions must be retained as

2009 and you have a capital gain excess, you must complete

long as their contents may become material in the

Part III of Form 8801 with certain modifications. To see if you

administration of any Internal Revenue law. Generally, tax

have a capital gain excess, subtract Form 8801, line 10, from

returns and return information are confidential, as required by

line 6 of your 2009 Qualified Dividends and Capital Gain Tax

section 6103.

Worksheet (or line 10 of your 2009 Schedule D Tax

The time needed to complete and file this form will vary

Worksheet). If the result is more than zero, that amount is your

depending on individual circumstances. The estimated burden

capital gain excess.

for individual taxpayers filing this form is approved under OMB

If you have a capital gain excess, figure the amounts to enter

control number 1545-0074 and is included in the estimates

on lines 30, 31, and 32 of Form 8801 using the following

shown in the instructions for their individual income tax return.

modifications (only for purposes of Part III of Form 8801).

The estimated burden for all other taxpayers who file this form

is shown below.

1. Reduce the amount on line 3 of your 2009 Qualified

Dividends and Capital Gain Tax Worksheet or line 9 of your

2009 Schedule D Tax Worksheet (but not below zero) by your

Recordkeeping . . . . . . . . . . . . . . . . . . . .

2 hrs., 4 min.

capital gain excess.

Learning about the law or the form . . . . .

2 hrs., 19 min.

2. Reduce the amount on line 2 of your 2009 Qualified

Preparing the form . . . . . . . . . . . . . . . . .

2 hrs., 3 min.

Dividends and Capital Gain Tax Worksheet or line 6 of your

Copying, assembling, and sending the

2009 Schedule D Tax Worksheet (but not below zero) by any of

form to the IRS . . . . . . . . . . . . . . . . . .

48 min.

your capital gain excess not used in (1).

3. Reduce the amount on your 2009 Schedule D (Form

If you have comments concerning the accuracy of these time

1040), line 18, (but not below zero) by your capital gain excess.

estimates or suggestions for making this form simpler, we

4. Include your capital gain excess as a loss on line 16 of

would be happy to hear from you. See the instructions for the

your 2009 Unrecaptured Section 1250 Gain Worksheet on page

tax return with which this form is filed.

D-9 of the 2009 Instructions for Schedule D (Form 1040).

Line 35

If for 2009 you filed Form 1040NR and Form 8801, line 34, is

$175,000 or less ($87,500 or less if you checked filing status

-4-

Instructions for Form 8801 (2010)

Instructions For Form 8801 - 2010 Page 4

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