72. Amy, single, received a $5,800 capital gain distribution from a mutual fund account. Use the Schedule D Tax Worksheet (provided in Chapter 11) to calculate the amount of tax on Amys capital gain. The information needed to compute Amys tax on the capital gain is provided below:

1) Wage income of $28,000. 2) No ordinary or qualified dividends 3) No gains from collectibles or unrecaptured section 1250 gains 4) Capital gain distribution is not from qualified small business stock 5) No income from a foreign country 6) Taxable income on Form 1040, line 10 is $21,800

a) $1,160

b) $ 870

c) $ 0

d) $1,450

Exhibit 11-2 Schedule D Tax Worksheet Schedule D Tax Worksheet Keep for Your Records Complete this worksheet only if line 18 or line 19 ar Schedule D is more than emand lines 15 and 16 of Schedule D are gains. Otherwise, ructions for complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040. linella (or in the instruchom Form 10-40NR line 42) to figure your tax Before completine this worksheet complete Form 10-40 through line 10 (or Form 104 through line 41). Exception: Don't use the Qualified Dividends and Capital Gain Tax Worksheet or this worksheet to figure your tax it * Line 15 or line 16 of Schedule D is zero or less and you have no qualified dividends on Form 1020 line 3a (or Form 1040NR line 10). or Fom 1040, line 10 (or Form 1040NR line 41) is zero or less. Instead, see the instructions for Form 10-40. line Ila (or Form 104ONR line 42). 1. Enter your taxable income from Form 1040, line 10 (or Form 1040NR line 41). (However, if you are filing Form 2555 or 25SS-EZ (relating to foreign earned income), enter instead the amount from line 3 of the Foreign Eamed Income Tax Worksheet in the instructions for For 1040. line ula) 2. Enter your qualified dividends from Form 1040, line 3a (or Form 1040NR line 10b). 3. Enter the amount from Form 4952 (used to figure investment interest expense deduction), line 4g ...... Enter the amount from Form 4952, line 4e* .... 5. Subtract fine 4 from line 3. If zero or less cuter- 6. Subtract line 5 from line 2. If zero or less, enter 0.** 7. Enter the smaller of line 15 or line 16 of Schedule D Enter the smaller of line 3 or line 4 9. Subtract line 8 from line 7. If zero or less, enter-0-** 10. Add lines 6 and 9 ... 11. Add lines 18 and 19 of Schedule D** 12. Enter the smaller of line 9 or line 11 13. Subtract line 12 from line 10 14. Subtract line 13 from line 1. If zero or less, enter-O- 15. Enter. - $38,600 if single or married filing separately. $77,200 if married filing jointly or qualifying widow(er), or - $51,700 if head of household 16. Enter the smaller of line 1 or line 15 ... - 16. 17. Enter the smaller of line 14 or line 16 18a. Subtract line 10 from line 1. If zero or less, cater-0- b. Enter the smaller of line 1 or $157,500 (5315,000 if married filing jointly or qualifying widow(er)) c. Enter the smaller of line 14 or line 186 19. Enter the larger of line 18a or line 18c 19. 20. Subtract line 17 from line 16. This amount is taxed at 0% Ir lines 1 and 16 are the same, skip lines 21 through 41 and go to line 42. Otherwise, go to line 21 Enter the smaller of line 1 or line 13 22. Enter the amount from line 20. (If line 20 is blank, enter-O-) Subtract line 22 from line 21. If zero or less, enter-O- Enter: - $425,800 if single: - $239, 500 if married filing separately. - $479,000 if married filing jointly or qualifying widow(er); or $452,400 if head of household 25. Enter the smaller of line 1 or line 24 26. Add lines 19 and 20 ... 27. Subtract line 26 from line 25. If zero or less, enter-O- 28. Enter the smaller of line 23 or line 27 29. Multiply line 28 by 15% (0.15) 30. Add lines 22 and 28 30. If lines and 30 are the same, skip lines 31 through 41 and go to line 42. Otherwise, go to line 31. 20. 21. 23. Schedule D Tax Worksheet-Continued Keep for Your Records 32. .. 34. 36. 38. 31. Subtract line 30 from line 21 .... 32. Multiply line 31 by 20% (0.20) ..... .... Ir Schedule D, line 19, is zero or blank, skip lines 33 through 38 and go to line 39. Otherwise, go to line 33. 33. Enter the smaller of line 9 above or Schedule D. line 19 ... 33. 34. Add lines 10 and 19 35. Enter the amount from line 1 above .... 35. 36. Subtract line 35 from line 34. If zero or less, enter -O . 37. Subtract line 36 from line 33. If zero or less, enter-O 37. Multiply line 37 by 25% (0.25) If Schedule D, line 18, is zero or blank, skip lines 39 through 41 and go to line 42. Otherwise, go to line 39. 39. Add lines 19, 20, 28, 31, and 37 40. Subtract line 39 from line 1 . 40. 41. Multiply line 40 by 28% (0.28) Figure the tax on the amount on line 19. If the amount on line 19 is less than $100,000, use the Tax Table to figure the tax. If the amount on line 19 is $100.000 or more, use the Tax Computation Worksheet 43. Add lines 29, 32, 38, 41 and 42 44. Figure the tax on the amount on line 1. If the amount on line 1 is less than $100.000, use the Tax Table to figure the tax. If the amount on line 1 is $100.000 or more, use the Tax Computation Worksheet Ta on all taxable income (including capital gains and qualified dividends). Enter the smaller of line 43 or line 44. Also include this amount on Form 1040, line 11a (or Form 1040NR line 42). (If you are filing Form 2555 or 2555-EZ, don't enter this amount on Form 1040, line 11a. Instead, enter it on line 4 of the Foreign Earned Income Tax Worksheet in the Form 1040 instructions) SA - 39. 44 45. 45. * If applicable, enter instead the smaller amount you entered on the dotted line next to line 4e of Form 4952. ** If you are filing Form 2555 or 2555-EZ, see the footnote in the Foreign Eamed Income Tax Worksheet in the instructions for Form 1040. line 11a, before completing this line