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For information regarding Excess Exemptions

2013 Schedule B, Line 36 and Schedule D, Line 20 Worksheet - Exemptions from Interest and Dividend Income, 12% Income, and Long-Term Capital Gain Income (Only if Single, Head of Household, or Married Filing Jointly)
Residents: If your total exemptions in Form 1, line 18 are more than the amount of your 5.25% income after deductions in Form 1, line 17, the excess may be applied against all your interest and dividend income and income taxed at 12%. Any remaining excess amount may then be applied against all your long-term capital gain income. Complete the following worksheet only if Form 1, line 17 is less than Form 1, line 18 to determine if you qualify for the excess exemption. Enter all losses as "0."

Nonresidents and Part-year residents: If your total exemptions in Form 1-NR/PY, line 22 are more than the amount of your 5.25% income after deductions in Form 1-NR/PY, line 21, the excess may be applied against all your interest and dividend income and income taxed at 12%. Any remaining excess amount may then be applied against all your long-term capital gain income. Complete the following worksheet only if Form 1-NR/PY, line 21 is less than Form 1-NR/PY, line 22 to determine if you qualify for the excess exemption. Enter all losses as "0."

You must enter an amount in all fields; if not applicable, enter 0. Enter all losses as positive amounts. Please do not enter any commas ( , ) or dollar signs ( $ ). To advance line to line use the Tab key.
Line 1. Enter amount from Schedule B, line 35. Not less than "0":
Line 2. Enter amount from Form 1, line 18 or 1-NR/PY, line 22:
Line 3. Enter amount from Form 1, line 17 or Form 1-NR/PY, line 21:
Line 4. Subtract Line 3 from line 2. If "0" or less, you do not qualify for this exemption. Omit remainder of worksheet:
Press Enter:
Line 5. Excess exemptions applied against interest and dividend income and 12% income. If line 1 is larger than line 4, enter line 4 here and in Schedule B, line 36. If line 4 is equal to or larger than line 1, enter line 1 here and in Schedule B, line 36. Complete lines 6 through 8:
Line 6. Subtract line 5 from line 4. If "0", omit remainder of worksheet:
Line 7. Enter Schedule D, line 19. Not less than "0":
Press Enter:
Line 8. Excess exemptions applied against long-term capital gain income. If line 7 is larger than line 6, enter line 6 here and in Schedule D, line 20. If line 6 is equal to or larger than line 7, enter line 7 here and in Schedule D, line 20:

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