Instructions For Schedule J (Form 1040) - Income Averaging For Farmers And Fishermen - 2017 Page 4
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14lines 34 and 36 of the Schedule D Tax
Worksheet to figure the tax on the
Line 8
Worksheet); or
amount on line 3 of the Foreign Earned
If line 7 is zero, enter -0- on line 8. Oth-
The 2014 Foreign Earned Income
Income Tax Worksheet.
Tax Worksheet, later.
erwise, figure the tax on the amount on
When completing the Schedule D
line 7 using:
Tax Worksheet, you must allocate 1/3 of
If your elected farm income includes
The 2014 Tax Rate Schedules be-
the amount on Schedule J, line 2b (and
net capital gain, you must use the 2014
low;
1/3 of the amount on line 2c, if any) to
Schedule D Tax Worksheet to figure the
The 2014 Qualified Dividends and
2014. If for 2014 you had a capital loss
tax on the amount on line 7. However, if
Capital Gain Tax Worksheet, later;
that resulted in a capital loss carryover
you filed Form 2555 or 2555-EZ for
The 2014 Schedule D Tax Work-
to 2015, don't reduce the elected farm
2014, you must first complete the 2014
sheet in the 2014 Schedule D instruc-
income allocated to 2014 by any part of
Foreign Earned Income Tax Worksheet,
tions (but use the 2014 Tax Rate Sched-
the carryover.
and then use the 2014 Schedule D Tax
ules below when figuring the tax on
2014 Tax Rate Schedules—Line 8
Schedule X—Use if your 2014 filing status was Single or you
Schedule Y-2—Use if your 2014 filing status was Married filing separately or you
checked filing status box 1 or 2 on Form 1040NR
checked filing status box 3, 4, or 5 on Form 1040NR
If
Enter on
If
Enter on
Schedule J,
Schedule J,
of the
Schedule J,
Schedule J,
line 7, is:
But not
line 8
amount
line 7, is:
But not
line 8
of the amount over
Over—
over—
over—
Over—
over—
—
$0 $9,075
. . . . . . .
10%
$0
$0
$9,075
. . . . . . .
10%
$0
9,075 36,900
$907.50
+
15%
9,075
9,075
36,900
$907.50
+
15%
9,075
36,900 89,350
5,081.25
+
25%
36,900
36,900
74,425
5,081.25
+
25%
36,900
89,350 186,350
18,193.75
+
28%
89,350
74,425 113,425
14,462.50
+
28%
74,425
186,350 405,100
45,353.75
+
33%
186,350
113,425 202,550
25,382.50
+
33%
113,425
405,100 406,750
117,541.25
+
35%
405,100
202,550 228,800
54,793.75
+
35%
202,550
406,750 . . . . . . .
118,118.75
+
39.6%
406,750
228,800 . . . . . . .
63,981.25
+
39.6%
228,800
Schedule Y-1—Use if your 2014 filing status was Married filing
Schedule Z—Use if your 2014 filing status was Head of household
jointly or Qualifying widow(er) or you checked filing status box 6
on Form 1040NR
If
Enter on
If
Enter on
Schedule J,
Schedule J,
of the
Schedule J,
Schedule J,
line 7, is:
But not
line 8
amount
line 7, is:
But not
line 8
of the amount over
Over—
over—
over—
Over—
over—
—
$0 $18,150
. . . . . . .
10%
$0
$0 $12,950
. . . . . . .
10%
$0
18,150 73,800
$1,815.00
+
15%
18,150
12,950
49,400
$1,295.00
+
15%
12,950
73,800 148,850
10,162.50
+
25%
73,800
49,400 127,550
6,762.50
+
25%
49,400
148,850 226,850
28,925.00
+
28%
148,850
127,550 206,600
26,300.00
+
28%
127,550
226,850 405,100
50,765.00
+
33%
226,850
206,600 405,100
48,434.00
+
33%
206,600
405,100 457,600
109,587.50
+
35%
405,100
405,100 432,200
113,939.00
+
35%
405,100
457,600 . . . . . . .
127,962.50
+
39.6%
457,600
432,200 . . . . . . .
123,424.00
+
39.6%
432,200
J-4
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial