Schedule R, Page 2

Schedule R, Page 2

Summary: This is an example of Schedule R (Form 1040), Page 2 with the following line items listed under "Part III: Figure Your Credit" completed:

"10. If you checked (in Part I): Enter:" field contains 7,500
"11. If you checked (in Part I):" field contains 8,100
"12. If you completed line 11, enter the smaller of line 10 or line 11; all others, enter the amount from line 10" field contains 7,500
"13a. Nontaxable part of social security benefits and Nontaxable part of railroad retirement benefits treated as social security. See instructions." field contains 2,000
"13c. Add lines 13a and 13b. (even though these income items aren't taxable, they must be included here to figure your credit.) If you didn't receive any of the types of nontaxable income listed on line 13a or 13b, enter 0 on line 13c." field contains 2,000
"14. Enter the amount from Form 1040, line 7" field contains 24,100
"15. If you checked (in Part I): Enter:" field contains 10,000
"16. Subtract line 15 from line 14. If zero or less, enter 0" field contains 14,100
"17. Enter one-half of line 16" field contains 7,050
"18. Add lines 13c and 17" field contains 9,050
"19. Subtract line 18 from line 12. If zero or less, stop; you can't take the credit. Otherwise, go to line 20" field contains negative 1,550
"20. Multiply line 19 by 15% (0.15)" field is blank
"21. Tax liability limit. Enter the amount from the Credit Limit Worksheet in the instructions" field is blank
"22. Credit for the elderly or the disabled. Enter the smaller of line 20 or line 21. Also enter this amount on Schedule 3 (Form 1040), line 54 (check box c and enter “Sch R” on the line next to that box)" field is blank