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Tax Worksheet in the Form 1040,

11. If the child itemized deductions,

7. Subtract line 6 from line 5 . . .

1040A, or 1040NR instructions to figure

enter the child’s itemized

8. Subtract line 7 from line 2 . . .

the tax, unless you have to use the

deductions not directly

Schedule D Tax Worksheet or

connected with the production

9. Subtract line 6 from line 1 . . .

Schedule J (see below).

of the income on line 3.

10. Enter the amount from the

Otherwise, enter the child’s

Schedule J. If any farming or fishing

child’s Form 8615, line 1 . . . .

standard deduction . . . . . . . .

income is included on line 8, the tax

12. Add lines 10 and 11 . . . . . . .

may be less if you use Schedule J. If

11. Divide line 1 by line 10. Enter

Schedule J was used to figure the tax

the result as a decimal

13. Enter the child’s adjusted gross

on the parent’s return, see Pub. 929 for

(rounded to at least three

income (Form 1040, line 38;

places). Do not enter more

details on how to figure the tax.

Form 1040A, line 22; or Form

than 1.000 . . . . . . . . . . . . . .

1040NR, line 36) . . . . . . . . .

Schedule D Tax Worksheet. If the

child, parent, or another child has to file

12. Divide line 2 by line 10. Enter

14. Divide line 3 by line 13. Enter

Schedule D and line 18 or 19 of any

the result as a decimal

Schedule D is more than zero, use the

(rounded to at least three

Schedule D Tax Worksheet in the

places). Do not enter more

places). Do not enter more than

than 1.000 minus the amount

1.000 . . . . . . . . . . . . . . . . .

Instructions for Schedule D to figure the

on line 11 . . . . . . . . . . . . . .

tax. See Pub. 929 for details on how to

15. Multiply line 12 by line 14 . . . .

figure the line 9 tax using the Schedule

13. Multiply $850 by line 11 . . . . .

16. Multiply line 15 by line 4 . . . .

D Tax Worksheet.

14. Multiply $850 by line 12 . . . . .

17. Subtract line 16 from line 15 . .

Using the Qualified Dividends and

Capital Gain Tax Worksheet for line 9

18. Qualified dividends on Form

15. Qualified dividends on Form

8615, line 5. Subtract line 16

tax. If you use the Qualified Dividends

8615, line 5. Subtract line 13

from line 9. Enter the result

and Capital Gain Tax Worksheet to

from line 9 (but do not enter

here (but do not enter less than

less than zero or more than

figure the line 9 tax, complete that

zero or more than the amount

the amount on Form 8615,

worksheet as follows.

on Form 8615, line 5) . . . . . .

line 5) . . . . . . . . . . . . . . . . .

1. On line 1, enter the amount from

19. Net capital gain on Form

Form 8615, line 8.

16. Net capital gain on Form

8615, line 5. Subtract line 17

2. On line 2, enter the amount of

8615, line 5. Subtract line 14

from line 8 (but do not enter

qualified dividends included on Form

less than zero or more than the

less than zero or more than

8615, line 8. (See the instructions for

excess of Form 8615, line 5,

the excess of Form 8615, line

line 8.)

over line 18 of this worksheet)

5, over line 15 of this

3. On line 3, enter the amount of the

worksheet) . . . . . . . . . . . . . .

net capital gain included on Form 8615,

* If you enter more than $112,875 on line 13, see

line 8. (See the instructions for line 8.)

the Deduction for Exemptions Worksheet in the

4. Complete line 4 following the

Form 1040, Form 1040A, or Form 1040NR

worksheet instructions.

instructions for the amount to enter on line 10.

5. If you are completing the

worksheet in the Form 1040

Net capital gain or qualified

instructions, enter on line 5 the total of

dividends on line 6. If the parent has

Line 5 Worksheet #3

the amounts, if any, on line 4g of all

a net capital gain, its full amount is the

Keep for Your Records

Forms 4952 filed by the child, parent, or

net capital gain included on line 6. If the

any other child.

parent has qualified dividends, the full

6. Complete lines 6 through 19

amount is the amount of qualified

(lines 5 through 17 of the worksheet in

dividends included on line 6.

Use this worksheet only if the child’s Form

the Form 1040A or Form 1040NR

8615, line 5, is less than line 3.

Net capital gain or qualified

instructions) following the worksheet

dividends on line 7. The net capital

instructions. Use the parent’s filing

1. Enter the child’s qualified

gain included on line 7 is the total of the

status to complete lines 8, 16, and 18

dividends . . . . . . . . . . . . . . .

amounts of net capital gain included on

(lines 6, 14, and 16 of the worksheet in

2. Enter the child’s net capital gain

line 5 of the other children’s Forms

the Form 1040A or Form 1040NR

8615. The qualified dividends included

instructions).

3. Add lines 1 and 2 . . . . . . . . .

on line 7 is the total of the amounts of

4. Divide line 1 by line 3. Enter the

Enter the amount from line 19 of the

qualified dividends included on line 5 of

result as a decimal (rounded to

Qualified Dividends and Capital Gain

the other children’s Forms 8615. Find

at least three places) . . . . . . .

Tax Worksheet (or line 17 of the

these amounts for each other child as

5. If the child itemized deductions,

worksheet in the Form 1040A or Form

explained under Net capital gain or

enter the child’s itemized

1040NR instructions) on Form 8615,

qualified dividends on line 5 on page 2.

deductions directly connected

line 9, and check the box on that line.

(Do not attach the other children’s

with the production of the

Do not attach this worksheet to the

Forms 8615 to the child’s return.)

income on line 3 . . . . . . . . . .

child’s return.

6. Multiply line 4 by line 5 . . . . .

Line 9

Line 10

7. Subtract line 6 from line 5 . . .

Figure the tax using the Tax Table, Tax

If the parent filed a joint return, enter

8. Subtract line 7 from line 2 . . .

Computation Worksheet, Qualified

the tax shown on that return even if the

Dividends and Capital Gain Tax

9. Subtract line 6 from line 1 . . .

parent’s spouse is not the child’s

Worksheet, Schedule D Tax

10. If the child can claim his or her

parent.

Worksheet, or Schedule J, whichever

own exemption, enter $3,300*.

applies. If line 8 includes any net capital

If the parent files Form 2555 or

Otherwise, enter -0- . . . . . . .

gain or qualified dividends, use the

2555-EZ, enter the amount from line 8

Qualified Dividends and Capital Gain

of the parent’s Foreign Earned Income

-3-

Instructions For Form 8615 - Tax For Children Under Age 18 With Investment Income Of More Than 1,700 - Internal Revenue Service - 2006 Page 3

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