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gregmey
gregmey, CPA
Category: Tax
Satisfied Customers: 147
Experience:  Certified Public Accountant & Certified Financial Planner
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How to figure tax for the Schedule D Tax Worksheet?

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I'm looking at the Schedule D tax worksheet and it states to use the Qualified Dividends and Capital Gain Worksheet 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 Capital Gain Worksheet to figure the tax instead of the Schedule D Tax Worksheet?

Yes, you can also use the Qualified Dividends and Capital Gain Worksheet to calculate the tax due. 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 schedule D worksheet is more complex because it takes into account more because of having to fill out 18 and 19?

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. Yes, you would use the Qualified Dividends and Capital Gain Worksheet. This will take into account your ordinary income and capital gain income taxed at the lower rates.

Customer:

So, it 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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