**Question 29 of 50**Taxpayers whose only unearned income consists of qualified dividends and capital gain distributions reported to them on Form 1099-DIV generally compute the amount of tax on their income using:- O Form 8949, Sales and Other Dispositions of Capital Assets.- O The Qualified Dividends and Capital Gain Tax Worksheet.- O The Schedule D Tax Worksheet.- O The 2021 Tax Rate Schedules.

The correct answer is: (B) The Qualified Dividends and Capital Gain Tax Worksheet. The Qualified Dividends and Capital Gain Tax Worksheet is used to figure out the tax on qualified dividends and capital gain distributions. This is because these types of income are taxed at a lower rate than other types of income.There are a few reasons why taxpayers might use the Qualified Dividends and Capital Gain Tax Worksheet to calculate the tax on their income. One reason is that the worksheet provides clear instructions on how to calculate the tax. Additionally, the worksheet allows taxpayers to figure out the tax on their income without having to use a tax table. Finally, the worksheet allows taxpayers to take advantage of the special tax rates that apply to qualified dividends and capital gain distributions.

Business

Accounting

1 1 Form 8949, Sales and Other Dispositions of Capital Assets. ind Dividends and Capital Gain Tax Worksheet. THE Question 29 of 50. Taxpayers whose only unearned income consists of qualified dividends and capital gain distributions reported to them on Form 1099-DIV generally compute the amount of tax on their income using:

1 1 Form 8949, Sales and Other Dispositions of Capital Assets. ind Dividends and Capital Gain Tax Worksheet. THE Question 29 of 50. Taxpayers whose only unearned income consists of qualified dividends and capital gain distributions reported to them on Form 1099-DIV generally compute the amount of tax on their income using:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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