J.K. Lasser's Your Income Tax 2013: For Preparing Your 2012 Tax Return

22.4 Tax Calculation If You Have Net Capital Gain or Qualified Dividends

If a portion of your taxable income consists of net capital gain (net long-term capital gain in excess of net short-term capital loss (5.3)) or qualified dividends (4.1), you should figure your regular tax liability on the Qualified Dividends and Capital Gain Tax Worksheet in the IRS instruction booklet. On the Worksheet, you can apply the favorable capital gain rates (5.3) to your net gain and qualified dividends. An example of how to report transactions on Schedule D (Form 1040) and a filled-in sample of the Qualified Dividends and Capital Gain Tax Worksheet is shown in 5.8. You may be able to figure your liability on the Qualified Dividends and Capital Gain Tax Worksheet without having to file form 8949 and Schedule D if you have capital gain distributions from Box 2a of Form 1099-DIV (32.8) and/or qualified dividends from Box 1b of Form 1099-DIV and no other capital gains or losses.

However, you use a different worksheet if you report any 28% rate gains or unrecaptured Section 1250 gain on Schedule D. In this case, you must use the Schedule D Tax Worksheet (5.3) in the Schedule D instructions to figure tax liability.