2011 Tax Outlook for Seniors

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If you use the Qualified Dividends and Capital Gain Tax Worksheet on page 37 of the 2011 Form 1040, the only time that your qualified dividends will taxed at the zero precent rate is if your line 43 of Form 1040 is less than the following:
$34,500 if single or married filing separately
$69,000 if married filing jointly or qualifying widow(er)
$46,250 if head of household
And, the only portion that will be at the zero percentage rate is the amount of line 43 that is less than those listed above.
It appears that the worksheet is not correct. Please comment.

W.J. Kulpa of CT 10:58AM March 07, 2012

You haven't addressed whether or not the amounts of direct distributions from IRA accounts to charities will be excludable from 2011 reported income, as they have been in recent years. I believe this is a very significant matter that needs to be addressed so those who are 70 1/2 years of age or older will be able to make an informed decision regarding their 2011 charitable contributions.

Harvey Armour of NC 3:05PM December 30, 2010