Calculate tax on Form 1040, line 16
Use 1 of the following methods to calculate the tax for Line 16 of Form 1040.
- Use the tax tables in the Form 1040 instructions.
- Use the Qualified Dividend and Capital Gain Tax Worksheet. Select theForm Viewicon
, the DTaxWrkfolder, then theQualified Div & Cap Gain Wrktab. 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.
- Use the Schedule D Tax Worksheet. Select theForm Viewicon, the DTaxWrkfolder, then theCapital Gain Tax Wrktab.
- Use the Foreign Earned Income Tax Worksheet. Select theForm Viewicon, the 2555Taxfolder, then theForeign Earned Income Tax Wrktab.
