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Tax Worksheet (in the Form 1040

1. On line 1, enter the amount from

the Schedule D Tax Worksheet has to

instructions), instead of the parent’s tax

Form 8615, line 14.

be used instead. If any farming or

from Form 1040, line 44.

2. On line 2, enter the amount of the

fishing income is included on line 4, the

qualified dividends included on Form

tax may be less if you use Schedule J.

Line 15

8615, line 14. (See Net capital gain and

Line 18

qualified dividends on line 14 on this

Figure the tax using the Tax Table, Tax

page.)

Computation Worksheet, Qualified

If the child files Form 2555 or 2555-EZ,

3. On line 3, enter the amount of the

Dividends and Capital Gain Tax

do not enter the amount from Form

net capital gain included on Form 8615,

Worksheet, Schedule D Tax

8615, line 18, on the child’s Form 1040,

line 14. (See Net capital gain and

Worksheet, or Schedule J, whichever

line 44. Instead, enter the amount from

qualified dividends on line 14 on this

applies. If line 14 includes any net

Form 8615, line 18, on line 8 of the

page.)

capital gain or qualified dividends (see

child’s Foreign Earned Income Tax

4. Complete line 4 following the

below), use the Qualified Dividends and

Worksheet (in the Form 1040

worksheet instructions.

Capital Gain Tax Worksheet to figure

instructions). Then complete the rest of

5. If you are completing the

this tax. However, if the child has to file

the Foreign Earned Income Tax

worksheet in the Form 1040

Schedule D and line 18 or line 19 of the

Worksheet to figure the child’s tax.

instructions, leave line 5 blank.

child’s Schedule D is more than zero,

6. Complete lines 6 through 19

Paperwork Reduction Act Notice.

use the Schedule D Tax Worksheet to

(lines 5 through 17 of the worksheet in

We ask for the information on this form

figure this tax instead. See Pub. 929 for

the Form 1040A or Form 1040NR

to carry out the Internal Revenue laws

details on how to figure the line 15 tax

instructions) following the worksheet

of the United States. You are required

using the Schedule D Tax Worksheet.

instructions. Use the child’s filing status

to give us the information. We need it to

Before using the Qualified Dividends

to complete lines 8, 16, and 18 of the

ensure that you are complying with

and Capital Gain Tax Worksheet to

worksheet for Form 1040 (lines 6, 14,

these laws and to allow us to figure and

figure the line 15 tax, you will need to

and 16 of the worksheet for Form

collect the right amount of tax.

know the amount of net capital gain

1040A or Form 1040NR).

You are not required to provide the

and qualified dividends, if any, included

information requested on a form that is

Enter the amount from line 19 of this

on line 14.

subject to the Paperwork Reduction Act

Qualified Dividends and Capital Gain

Net capital gain and qualified

unless the form displays a valid OMB

Tax Worksheet (line 17 of the

dividends on line 14. If the child does

control number. Books or records

worksheet in the Form 1040A or Form

not have any net capital gain or

relating to a form or its instructions

1040NR instructions) on line 15 of Form

qualified dividends, line 14 does not

must be retained as long as their

8615 and check the box on that line. Do

include any net capital gain or qualified

contents may become material in the

not attach this worksheet to the child’s

dividends.

administration of any Internal Revenue

return.

If the child has net capital gain, the

law. Generally, tax returns and return

Using Schedule J for line 15 tax. If

amount of net capital gain included on

information are confidential, as required

line 14 includes any farming or fishing

line 14 is the amount from line 2 of the

by Internal Revenue Code section

income, the tax may be less if you use

child’s completed Line 5 Worksheet

6103.

Schedule J. See Pub. 929 for details on

minus the amount from the last line of

The average time and expenses

how to figure the line 15 tax using

that worksheet.

required to complete and file this form

Schedule J.

If the child has qualified dividends,

will vary depending on individual

the amount of qualified dividends

Line 17

circumstances. For the estimated

included on line 14 is the amount from

averages, see the instructions for your

Figure the tax using the Tax Table, Tax

line 1 of the child’s completed Line 5

income tax return.

Computation Worksheet, Qualified

Worksheet minus the amount from the

If you have suggestions for making

Dividends and Capital Gain Tax

next to the last line of that worksheet.

this form simpler, we would be happy to

Worksheet, Schedule D Tax

Using the Qualified Dividends and

hear from you. See the instructions for

Worksheet, or Schedule J, whichever

Capital Gain Tax Worksheet for line

your income tax return.

applies. If line 4 includes any qualified

15 tax. If you use the Qualified

dividends or net capital gain, use the

Dividends and Capital Gain Tax

Qualified Dividends and Capital Gain

Worksheet to figure the line 15 tax,

Tax Worksheet to figure the tax unless

complete that worksheet as follows.

-4-

Instructions For Form 8615 - Tax For Children Under Age 18 With Investment Income Of More Than 1,700 - Internal Revenue Service - 2006 Page 4

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