Instructions For Schedule J (Form 1040) - Income Averaging For Farmers And Fishermen - 2017 Page 9

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Keep for Your Records
2015 Qualified Dividends and Capital Gain Tax Worksheet—Line 12
Use this worksheet only if both of the following apply.
Your elected farm income on your 2017 Schedule J, line 2a, doesn't include any net capital gain.
You (a) entered qualified dividends on your 2015 Form 1040, line 9b (or your 2015 Form 1040A, line 9b, or 2015 Form 1040NR,
line 10b); (b) entered capital gain distributions directly on your 2015 Form 1040, line 13 (or your 2015 Form 1040A, line 10, or 2015 Form
1040NR, line 14) and weren't required to file Schedule D; or (c) filed Schedule D in 2015 and you answered “Yes” on lines 17 and 20 of that
Schedule D.
1. Amount from your 2017 Schedule J, line 11. If for 2015 you filed Form 2555 or 2555-EZ, enter
the amount from line 3 of the 2015 Foreign Earned Income Tax Worksheet . . . . . . . . . . . . . . .
1.
2. Amount from your 2015 Form 1040, line 9b* (or your 2015 Form 1040A,
line 9b, or 2015 Form 1040NR, line 10b) . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Did you file Schedule D in 2015?*
Enter the smaller of line 15 or 16 of your 2015 Schedule D,
Yes.
but don't enter less than -0-
3.
Enter the amount from your 2015 Form 1040, line 13 (or your
No.
2015 Form 1040A, line 10, or 2015 Form 1040NR, line 14)
4. Add lines 2 and 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
5. Amount, if any, from your 2015 Form 4952, line 4g . . . . . . . . . . . . . . . . .
5.
6. Subtract line 5 from line 4. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7. Subtract line 6 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Enter one of the following three amounts depending on your
filing status:
$37,450 if single or married filing separately, or if you checked filing
status box 1, 2, 3, 4, or 5 on Form 1040NR;
. . . . . . . . .
8.
$74,900 if married filing jointly or qualifying widow(er) or if you
checked filing status box 6 on Form 1040NR;
$50,200 if head of household.
9. Enter the smaller of line 1 or line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. Enter the smaller of line 7 or line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
11. Subtract line 10 from line 9. This amount is taxed at 0% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. Enter the smaller of line 1 or line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
13. Enter the amount from line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
14. Subtract line 13 from line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.
15. Enter one of the following amounts depending on your filing status:
$413,200 if single, or if you checked filing status box 1 or 2 on Form
1040NR;
$232,425 if married filing separately, or if you checked filing status
box 3, 4, or 5 on Form 1040NR;
. . . . . . . . . 15.
$464,850 if married filing jointly or qualifying widow(er), or if you
checked filing status box 6 on Form 1040NR;
$439,000 if head of household.
.
16. Enter the smaller of line 1 or line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.
17. Add lines 7 and 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.
18. Subtract line 17 from line 16. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.
19. Enter the smaller of line 14 or line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.
20. Multiply line 19 by 15% (0.15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.
21. Add lines 11 and 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.
22. Subtract line 21 from line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.
23. Multiply line 22 by 20% (0.20) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
24. Figure the tax on the amount on line 7. Use the 2015 Tax Rate Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.
25. Add lines 20, 23, and 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.
26. Figure the tax on the amount on line 1. Use the 2015 Tax Rate Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.
27. Tax. Enter the smaller of line 25 or line 26 here and on your 2017 Schedule J, line 12. If for 2015 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 2015 Foreign Earned
Income Tax Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.
*If for 2015 you filed Form 2555 or 2555-EZ, see the footnote in the 2015 Foreign Earned Income Tax Worksheet before completing this line.
J-9

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