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gregmey
gregmey, CPA
Category: Tax
Satisfied Customers: 147
Experience:  Certified Public Accountant & Certified Financial Planner
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Im looking at the Schedule D tax worksheet and it states to

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I'm looking at the Schedule D tax worksheet and it states to use te Qualified Dividends and Captial Gain Workesheet if both line 18 and 19 are zero or blank, and only to use the Schedule D worksheet if the answer to that question is no. Should I then use the Qualified Dividends and Captial Gain Workesheet to figure the tax instead of the Schedule D Tax Worksheet?

gregmey :

Yes, you can also use the Qualified Dividends and Capital Gain Worksheet to calculate the tax due.

gregmey :

This worksheet is easier to use than the Schedule D worksheet, although both should give you the same answer.

Customer:

EIther one? From the instructions it seems to say use the Qualified Dividends and Capital Gain Worksheet if line 18 or 19 are zero; or is more of a matter that either will work for me, and just that the scheudle D worksheet is more complex because it takes into account more because of havnig to fill out 18 and 19?

Customer:

Appears from scanning Schedule D instructions that neither 18 or 19 apply.

gregmey :

Neither line 18 or 19 apply in your situation.

Customer:

Then it says to use the Qualified Dividends and Capital Gain Worksheet.

gregmey :

Neither 28% capital gain or un-recaptured Section 1250 gain apply for you.

gregmey :

Yes, you would use the Qualified Dividends and Capital Gain Worksheet.

gregmey :

This will take into account your ordinary income and capital gain income taxed at the lower rates.

Customer:

So appears either would work but the Qualified Dividends and Capital Gain Worksheet is simpler.

gregmey :

Yes, you are correct. Both will give you the same answer but the Qualified Dividends and Capital Gain Worksheet is simpler.

Customer:

Ok, thank you again!

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