Schedule D Tax Worksheet

Schedule D Tax Worksheet

Keep for Your Records

Complete this worksheet only if:
• On Schedule D, line 18b, column (2), or line 18c, column (2), is more than zero, or
• Both line 2b(1) of Form 1041 and line 4g of Form 4952, Investment Interest Expense Deduction, are more than zero, or
• There are amounts on lines 4e and 4g of Form 4952.
Exception: Don't use this worksheet to figure the estate's or trust's tax if line 18a, column (2), or line 19, column (2), of Schedule D or Form
1041, line 23, is zero or less; instead, see the Instructions for Form 1041, Schedule G, Part I, line 1a.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17a.
17b.
17c.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.

Enter the estate's or trust's taxable income from Form 1041, line 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter qualified dividends, if any, from Form 1041, line 2b(2) . . . . . . . .
2.
Enter the amount from Form 4952, line 4g . . . . . . . . . . 3.
Enter the amount from Form 4952, line 4e* . . . . . . . . .
4.
Subtract line 4 from line 3. If zero or less, enter -0- . . . . . . . . . . . . . . .
5.
Subtract line 5 from line 2. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
Enter the smaller of line 18a, col. (2), or line 19, col. (2), from
Sch. D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
Enter the smaller of line 3 or line 4 . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
Subtract line 8 from line 7. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
Add lines 6 and 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
Add lines 18b, column (2), and 18c, column (2), from Schedule D . . . . . . . . . . . . . . . . . 11.
Enter the smaller of line 9 or line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
Subtract line 12 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Subtract line 13 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter the smaller of line 1 or $2,800 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.
Enter the smaller of line 14 or line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.
Subtract line 10 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . 17a.
Enter the smaller of line 1 or $9,850 . . . . . . . . . . . . . . . . . . . . . . . . . 17b.
Enter the smaller of line 14 or line 17b . . . . . . . . . . . . . . . . . . . . . . . . 17c.
Enter the larger of line 17a or line 17c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.
Subtract line 16 from line 15. This amount is taxed at 0% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.
If lines 1 and 15 are the same, skip lines 20 through 40 and go to line 41. Otherwise, go to line 20.
Enter the smaller of line 1 or line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter the amount from line 19 (if line 19 is blank, enter -0-) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Subtract line 21 from line 20. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22.
Enter the smaller of line 1 or $13,700 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23.
Add lines 18 and 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24.
Subtract line 24 from line 23. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.
Enter the smaller of line 22 or line 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26.
Multiply line 26 by 15% (0.15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Reserved . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.
Add lines 19 and 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.
If lines 1 and 29 are the same, skip lines 30 through 40 and go to line 41. Otherwise, go to line 30.
Subtract line 29 from line 20. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
30.
Multiply line 30 by 20% (0.20) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter the smaller of line 9 (above) or line 18b, col. (2) (from Schedule D) . . . . . . . . . . . . 32.
Add lines 10 and 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33.
Enter the amount from line 1 above . . . . . . . . . . . . . . . . . . . . . . . . . .
34.
Subtract line 34 from line 33. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . 35.
Subtract line 35 from line 32. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
36.
Multiply line 36 by 25% (0.25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If Schedule D, line 18c, column (2), is zero or blank, skip lines 38 through 40 and go to line 41. Otherwise,
go to line 38.
Add lines 18, 19, 26, 30, and 36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38.
Subtract line 38 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39.
Multiply line 39 by 28% (0.28) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Figure the tax on the amount on line 18. Use the 2022 Tax Rate Schedule in the Instructions for Form 1041 . . . . . . . . . .
Add lines 27, 31, 37, 40, and 41 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Figure the tax on the amount on line 1. Use the 2022 Tax Rate Schedule in the Instructions for Form 1041 . . . . . . . . . .
Tax on all taxable income (including capital gains and qualified dividends). Enter the smaller of line 42 or line 43
here and on Form 1041, Schedule G, Part I, line 1a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1.

13.
14.

20.
21.

27.

31.

37.

40.
41.
42.
43.
44.

*If applicable, enter instead the smaller amount entered on the dotted line next to line 4e of Form 4952.

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2022 Instructions for Schedule D (Form 1041)