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How do you decide whether to use schedule d worksheet versus…

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How do you decide whether to use schedule d worksheet versus line 44 work sheet in 1040 instructions

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I have both qualified dividends and long term capital gains and have completed schedules 8949 and D but when I use the schedule D worksheet I get a significantly higher tax than if I use the line 44 worksheet in the 1040 instructions

Submitted: 1 month ago.Category: Tax
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3/22/2018
Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 month ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,651
Experience: 15years with H & R Block. Divisional leader, Instructor
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Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 month ago

It depends on what you have on the Schedule D. If you have to file Schedule D, and line 18 or 19 of Schedule D is more than zero, use the Schedule D Tax Worksheet in the Instructions for Schedule D to figure the amount to enter on Form 1040, line 44.

Use the Qualified Dividends and Capital Gain Tax Worksheet, to figure your tax if you don’t have to use the Schedule D Tax Worksheet (as I explained above) and if any of the following applies.

You reported qualified dividends on Form 1040, line 9b.

You don’t have to file Schedule D and you reported capital gain distributions on Form 1040, line 13. OR

You are filing Schedule D and Schedule D, lines 15 and 16, are both more than zero.

I know if gets confusing but start with the Schedule D worksheet and if you have to use it do not even look at the line 44 worksheet.

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