Publication 929 - Tax Rules For Children And Dependents

Filled-in Qualified Dividends and Capital Gain Tax Worksheet #1

Before you begin:

Be sure you do not have to file Form 1040 (see the instructions for Form 1040A, line 10)

1. Enter the amount from Form 1040A, line 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

49,100*

2. Enter the amount from Form 1040A, line 9b . . . . . . . . . . . . . . . .

412*

3. Enter the amount from Form 1040A, line 10 . . . . . . . . . . . . . . . .

275*

4. Add lines 2 and 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

687

5. Subtract line 4 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . .

48,413

6. Enter the smaller of:

• The amount on line 1, or

}

• $30,650 if single or married filing separately,

$61,300 if married filing jointly or qualifying widow(er), or

. . . . . . . . . .

49,100*

$41,050 if head of household.

7. Is the amount on line 5 equal to or more than the amount on line 6?

Yes.

Skip lines 7 through 9; go to line 10 and check the “No” box.

Enter the amount from line 5 . . . . . . . . . . . . . . . . . . . . . . . . .

No.

48,413

8. Subtract line 7 from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

687

9. Multiply line 8 by 5% (.05) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10. Are the amount on lines 4 and 8 the same?

Skip lines 10 through 13; go to line 14.

Yes.

No.

Enter the smaller of line 1 or line 4 . . . . . . . . . . . . . . . . . . . . . 10.

11. Enter the amount from line 8 (if line 8 is blank, enter -0-) . . . . . . . . . . . . . . . . . . . . . . . . 11.

12. Subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.

13. Multiply line 12 by 15% (.15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.

14. Figure the tax on the amount on line 5. Use the Tax Table. Enter tax here . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.

6,509

15. Add lines 9, 13, and 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.

6,543

16. Figure the tax on the amount on line 1. Use the Tax Table. Enter tax here . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.

6,614

17. Tax on all taxable income. Enter the smaller of line 15 or line 16 here and on Form 1040A, line 28 . . . . . . . . . . 17.

6,543

* See the instructions under Using the Qualified Dividends and Capital Gain Tax Worksheet for line 9 tax in the Form 8615 instructions.

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Publication 929 (2006)