Part II—Tax on Undistributed Net Capital Gain Not Designated Under Section 852(b)(3)(D)

Line 1. Enter the net capital gain from line 17 of Schedule D (Form 1120).

Line 2. Enter the capital gain dividends from Schedule A, line 8b.

Line 4. Capital gains tax. Multiply the amount on line 3 by 21% (0.21). Enter the result here and on Schedule J, line 1b.