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Calculations

Calculate tax on Form 1040, line 16

Use 1 of the following methods to calculate the tax for Line 16 of Form 1040.
  1. Use the tax tables in the Form 1040 instructions.
  2. Use the Qualified Dividend and Capital Gain Tax Worksheet. Select Form view, the
    DTaxWrk
     folder, then the
    Qualified Div & Cap Gain Wrk
     tab. Per the IRS Form 1040 Instructions, you'll need to use this worksheet if:
    • The taxpayer reported qualified dividends on Form 1040, Line 3a.
    • The taxpayer doesn't have to file Schedule D and they reported capital gain distributions on Form 1040, line 7. The taxpayer doesn't have to file Schedule D if both of the following apply:
      • They only have capital gain distributions from Form 1099-DIV, Box 2a, or substitute statements to report on Schedule D.
      • None of the Forms 1099-DIV or substitute statements have an amount in Boxes 2b, 2c or 2d.
    • The taxpayer is filing Schedule D, and Schedule D, Lines 15 and 16 are both more than 0.
  3. Use the Schedule D Tax Worksheet. Select Form view, the
    DTaxWrk
     folder, then the
    Capital Gain Tax Wrk
     tab.
  4. Use the Foreign Earned Income Tax Worksheet. Select Form view, the
    2555Tax
     folder, then the
    Foreign Earned Income Tax Wrk
     tab.

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