Instructions For Schedule J (Form 1040) - Income Averaging For Farmers And Fishermen - 2017 Page 6
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1424.
Figure the tax on the amount on line 7. Use the 2014 Tax Rate Schedules . . . . . . . . . .
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Add lines 20, 23, and 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Figure the tax on the amount on line 1. Use the 2014 Tax Rate Schedules . . . . . . . . . .
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Tax. Enter the smaller of line 25 or line 26 here and on your 2017 Schedule J, line 12.
If for 2014 you filed Form 2555 or 2555-EZ, don't enter this amount on Schedule J,
line 12. Instead, enter it on line 4 of the 2014 Foreign Earned Income Tax
Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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*If for 2014 you filed Form 2555 or 2555-EZ, see the footnote in the 2014 Foreign Earned Income Tax Worksheet before completing this line.
2014 Foreign Earned Income Tax Worksheet—Line 8
Keep for Your Records
Use this worksheet if you claimed the foreign earned income exclusion or housing exclusion on your 2014 Form 1040 using
Form 2555 or 2555-EZ. However, if Schedule J, line 7, is zero or less don't complete this worksheet.
1. Enter the amount from your 2017 Schedule J, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.
2a. Enter the amount from your (and your spouse's, if filing jointly) 2014 Form 2555, lines 45 and 50,
or Form 2555-EZ, line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.
b. Enter the total amount of any itemized deductions or exclusions you could not claim for 2014
because they were related to excluded income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c. Subtract line 2b from line 2a. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. Add lines 1 and 2c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
4. Figure the tax on the amount on line 3. Use the 2014 Tax Rate Schedules, the 2013 Qualified
Dividends and Capital Gain Tax Worksheet,* or the 2014 Schedule D Tax Worksheet in the 2014
Schedule D instructions,* whichever applies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.
5. Figure the tax on the amount on line 2c. Use the 2014 Tax Rate Schedules. . . . . . . . . . . . . . . . . . . . 5.
6. Subtract line 5 from line 4. Enter the result. If zero or less, enter -0-. Also include this amount on
your 2017 Schedule J, line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.
*Enter the amount from line 3 above on line 1 of the 2014 Qualified Dividends and Capital Gain Tax Worksheet or the 2014 Schedule D Tax
Worksheet if you use either of those worksheets to figure the tax on line 4 above. Complete the rest of that worksheet through line 6 (line 10 if
you use the Schedule D Tax Worksheet). Next, you must determine if you had a capital gain excess. To find out if you had a capital gain excess,
subtract the amount from your 2017 Schedule J, line 7, from line 6 of your 2014 Qualified Dividends and Capital Gain Tax Worksheet (line 10
of your 2014 Schedule D Tax Worksheet). If the result is more than zero, that amount is your capital gain excess.
If you didn't have a capital gain excess, complete the rest of either of those worksheets according to the worksheet's instructions. Then
complete lines 5 and 6 above.
If you had a capital gain excess, complete a second 2014 Qualified Dividends and Capital Gain Tax Worksheet or 2014 Schedule D Tax
Worksheet (whichever applies) as instructed above but in its entirety and with the following additional modifications. Then complete lines 5
and 6 above. These modifications are to be made only for purposes of filling out the 2014 Foreign Earned Income Tax Worksheet above.
1. Reduce (but not below zero) the amount you would otherwise enter on line 3 of your 2014 Qualified Dividends and Capital Gain Tax
Worksheet or line 9 of your 2014 Schedule D Tax Worksheet by your capital gain excess.
2. Reduce (but not below zero) the amount you would otherwise enter on line 2 of your 2014 Qualified Dividends and Capital Gain Tax
Worksheet or line 6 of your 2014 Schedule D Tax Worksheet by any of your capital gain excess not used in (1) above.
3. Reduce (but not below zero) the amount on your 2014 Schedule D (Form 1040), line 18, by your capital gain excess.
4. Include your capital gain excess as a loss on line 16 of your 2014 Unrecaptured Section 1250 Gain Worksheet in the 2014 Instructions for
Schedule D (Form 1040).
line 23, on your 2016 Form 1040,
2015 but not 2016, enter on line 9
Line 9
line 44, 2016 Form 1040NR, line 42, or
the amount from your 2015 Schedule J,
2016 Form 1040X), enter on line 9 the
line 3.
If you used Schedule J to figure your tax
amount from your 2016 Schedule J,
for:
If you figured your tax for both 2015
line 15.
2016 (that is, you entered the
and 2016 without using Schedule J, en-
amount from the 2016 Schedule J,
J-6
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