Is My Withholding Correct For 1999 - Instructions - Department Of The Treasury Page 9
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1
2
3
4
5
6
7
8
9
10
11
12
13
14
1521.
Enter the amount from line 14
22.
Subtract line 21 from line 20. If zero or less,
enter -0-
23.
Multiply line 22 by 10% (.10)
24.
Enter the smaller of line 4 or line 13
Worksheet 6 — For Figuring Tax If You Have
Capital Gain
25.
Enter the amount from line 22
26.
Subtract line 25 from line 24. If zero or less,
Use this worksheet to figure the amount to enter on line 6
enter -0-
of Worksheet 1 — 1999 Tax Worksheet only if the
27.
Multiply line 26 by 20% (.20)
amount on line 1 of that worksheet includes capital
28.
Enter the smaller of line 7 or line 11
gain.
29.
Add lines 7 and 18
1.
Enter your expected net long-term capital
30.
Enter the amount from line 4
gain or (loss) for 1999
31.
Subtract line 30 from line 29. If zero or less,
2.
Enter your expected net short-term capital
enter -0-
gain or loss for 1999
32.
Subtract line 31 from line 28. If zero or less,
3.
Combine lines 1 and 2. If a loss, or if line
enter -0-
1 is a loss, none of your gains are subject
33.
Multiply line 32 by 25% (.25)
to the maximum capital gains rates. Figure
your tax using the instructions on line 6 of
34.
Enter the amount from line 4
your 1999 Tax Worksheet, and do not use
35.
Add lines 18, 22, 26, and 32
the rest of this worksheet. If a gain,
36.
Subtract line 35 from line 34
continue using this worksheet
37.
Multiply line 36 by 28% (.28)
4.
Enter
the
amount
from
line
5
of
Worksheet 1
38.
Add lines 19, 23, 27, 33, and 37
5.
Enter the smaller of line 1 or line 3
39.
Figure the tax on the amount on line 4. Use
the 1999 Tax Rate Schedule
6.
Enter the amount of net capital gain from
the disposition of property held for
40.
Tax. Enter the smaller of line 38 or line 39
investment that you elect to include in
here and on line 6 of the 1999 Tax
investment income for purposes of figuring
Worksheet
the limit on investment interest. Do not
include more than the total net gain from
the disposition of property held for
investment
7.
Subtract line 6 from line 5. If zero or less,
enter -0-
Worksheet 7 — Self-Employment Tax
8.
Enter the total of your 28% rate gain or
Use this worksheet to figure the amount to
(loss). This includes all collectibles gains
enter on line 11 of Worksheet 1 — 1999
and losses. It also includes part or all of the
Tax Worksheet. If you are married filing a
eligible gain on qualified small business
joint return and you are both self-employed,
stock. (To see what small business stock
complete the self-employment tax
qualifies, see Gains on Qualified Small
calculation separately for each spouse, and
Business Stock, in Publication 550.)
combine the amounts on line 11 of
9.
Combine lines 2 and 8. If zero or less,
Worksheet 1.
enter -0-
10.
Enter the smaller of line 8 or line 9, but not
1.
Enter estimated self-employment income
for 1999
less than zero
11.
Enter your unrecaptured section 1250 gain,
2.
Multiply the amount on line 1 by .9235
if any (see page D-7 of the 1998 Schedule
Note. If the total of line 2 and your estimated wages
D (Form 1040) instructions for guidance on
is $72,600 or less, do not use this worksheet. See
how to figure this amount)
the instructions on line 11 of Worksheet 1.
12.
Add lines 10 and 11
3.
Multiply the amount on line 2 by .029
13.
Subtract line 12 from line 7. If zero or less,
$72,600
4.
Social security tax maximum income
enter -0-
5.
Enter estimated wages for 1999
14.
Subtract line 13 from line 4. If zero or less,
6.
Subtract line 5 from line 4
enter -0-
Note. If line 6 is zero or less, stop here and enter
15.
Enter the smaller of line 4 or $43,050
the amount from line 3 on line 11 of Worksheet 1.
($25,750 if single; $21,525 if married filing
separately; $34,550 if head of household)
7.
Enter the smaller of line 2 or line 6
16.
Enter the smaller of line 14 or line 15
8.
Multiply the amount on line 7 by .124
17.
Subtract line 7 from line 4. If zero or less,
9.
Add line 3 and line 8. Enter the result here
enter -0-
and on line 11 of Worksheet 1
18.
Enter the larger of line 16 or line 17
19.
Figure the tax on the amount on line 18.
Use the 1999 Tax Rate Schedules
20.
Enter the amount from line 15
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