Figure your regular tax. After claiming the standard deduction or itemized deductions (13.1) and deducting your allowable personal exemptions (21.1), you figure your 2013 regular tax by looking up the tax in the Tax Table or by figuring the tax using the Tax Computation Worksheet or special capital gain worksheets (22.1).
Apply the alternative minimum tax. If you have reduced your taxable income by certain deductions and tax benefits, you may be subject to the AMT (23.1).
Reduce your tax liability with tax credits. You may be entitled to tax credits (22.7) that lower your regular tax as well as any AMT.
Figure estimated tax payments. If you have investment and self-employment income, you generally have to pay quarterly estimated tax (27.1).
Compute the “kiddie tax.” If your child under age 18 has investment income for 2013 exceeding $2,000, you must compute tax on that income as if it were your own. The “kiddie tax” rules also apply if at the end of 2013 your child is age 18 or a full-time student under age 24, unless ...
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