2001 Instructions for Form 1040NR - Uncle Fed's Tax*Board

Capital Gain Tax Worksheet on connected with a U.S. trade or alternative minimum tax. This tax is
page 17.
business. But if neither of the child’s figured on Form 6251 for individuals. If
2. You use Schedule J (Form parents was alive on December 31, you are filing for an estate or trust, see
1040) (for farm income) to figure your 2001, do not use Form 8615 to figure Schedule I (Form 1041) and its
tax.
the child’s tax.
instructions to find out if you owe this
Schedule D (Form 1040). If you tax.
Tax Computation Worksheet for
Nonresident Alien Individuals Who had a net capital gain on Schedule D If you have any of the adjustments or
Received an Advance Payment of (both lines 16 and 17 of that schedule preferences from the list below or you
Their 2001 Taxes. If you received are gains) and the amount on Form are claiming a net operating loss
(before offset) an advance payment of 1040NR, line 38, is more than zero, use deduction or the foreign tax credit, you
your 2001 taxes, you must use the Part IV of Schedule D to figure your tax. must complete Form 6251. Otherwise,
worksheet on this page to figure your Capital Gain Tax Worksheet. If
to see if you should complete Form
tax. You may have received an
you received capital gain distributions
6251, add the amount on line 36 of
advance payment of your 2001 taxes if but you are not required to file
Form 1040NR to the amounts on lines
you filed Form 1040, 1040A, or 1040EZ Schedule D (Form 1040), use the
3 and 15 of Schedule A (Form
or used TeleFile for 2000. If any of the worksheet on page 17 to figure your
1040NR). If the total is more than the
other methods listed in item 1 on the tax.
dollar amount shown below that applies
previous page or 2 above apply to you,
to you, fill in Form 6251.
Schedule J (Form 1040). If you had
follow the Special Rules on the
• $35,750 if you checked filing status
income from farming, your tax may be
worksheet to figure your tax.
box 1 or 2.
less if you choose to figure it using • $24,500 if you checked filing status
Form 8615. You must generally use income averaging on Schedule J. box 3, 4, or 5.
Form 8615 to figure the tax for any Line 40—Alternative Minimum Tax. • $49,000 if you checked filing status
child who was under age 14 on January The tax law gives special treatment to box 6.
1, 2002, and who had more than some kinds of income and allows
Disposition of U.S. Real Property
$1,500 of investment income, such as special deductions and credits for some Interests. If you disposed of a U.S. real
taxable interest, ordinary dividends, or kinds of expenses. If you benefit from property interest at a gain, you must
capital gains (including capital gain these provisions, you may have to pay make a special computation to see if
distributions), that is effectively
a minimum amount of tax through the you owe this tax. For details, see the
Instructions for Form 6251.
Tax Computation Worksheet for Nonresident Alien Individuals Adjustments and Preferences:
Who Received an Advance Payment of Their 2001 Taxes—Line 39 1. Accelerated depreciation.
(keep for your records)
2. Stock by exercising an incentive
stock option and you did not dispose of
Use this worksheet to figure your tax only if you received (before offset) an advance the stock in the same year.
payment of your 2001 taxes.
3. Tax-exempt interest from private
activity bonds.
1. Figure the tax on the amount on Form 1040NR, line 38 (or
the applicable line of the form, schedule, or worksheet listed
4. Intangible drilling, circulation,
below). Use the Tax Table or Tax Rate Schedules,
research, experimental, or mining
whichever applies .............................. 1.
costs.
5. Amortization of pollution-control
2. Is the amount on line 1 more than the amount shown below facilities or depletion.
for your filing status?
6. Income or (loss) from tax-shelter
farm activities or passive activities.
• $600 if you checked filing status box 1, 2, 3, 4, or 5
7. Percentage-of-completion income
• $1,200 if you checked filing status box 6
from long-term contracts.
❏ Yes. Enter: $300 if you checked filing status box 1, 2, 3,
8. Alternative minimum tax
4, or 5; $600 if you checked filing status box 6.
adjustments from an estate, trust,
electing large partnership, or
❏ No. Multiply the amount on line 1 by 50% (.50) ........ 2. cooperative.
3. Add lines 1 and 2. Enter the total here and on Form
9. Section 1202 exclusion.
1040NR, line 39 (or the applicable line of the form,
schedule, or worksheet listed below) ................. 3.
Form 6251 should be filled in for
! a child under age 14 if the
CAUTION child’s adjusted gross income
Special Rules. If you use:
from Form 1040NR, line 34, exceeds
• The Capital Gain Tax Worksheet on page 17, use the above worksheet to figure the child’s earned income by more than
the tax on the Capital Gain Tax Worksheet, lines 4 and 14. $5,350.
• Schedule D (Form 1040), Part IV, use the above worksheet to figure the tax on
Schedule D, lines 25 and 39. If you completed the Schedule D Tax Worksheet on
page D-9 of the Schedule D instructions, use the above worksheet to figure the tax on Credits
the Schedule D Tax worksheet, lines 15 and 36.
Line 42—Foreign Tax Credit. If you
• Schedule J (Form 1040), use the above worksheet to figure the tax on Schedule J, paid income tax to a foreign country,
line 4.
you may be able to take this credit. But
• Form 8615. use the above worksheet to figure the tax on Form 8615, lines 15 and only if you:
17. 1. Report income from foreign
• Other forms or worksheets that require you to figure the tax using the 2001 Tax sources (see Foreign Income Taxed
Table or Tax Rate Schedules, use the above worksheet to figure the tax on any line by the United States on page 6) and
that would otherwise be figured using the 2001 Tax Table or Tax Rate Schedules. 2. Have paid or owe foreign tax on
that income.
-16- Instructions for Form 1040NR