Form 80-100-16-8-1-000 - Income Tax Instructions - Resident, Non-Resident And Part-Year Resident Page 11

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person can clearly establish the fact that he is in the
Add lines 37 through 47. Enter the total on this line.
business of farming for gain or profit.
Non-Resident Return: Add lines 38 through 48 of
Line 42: Interest Income
both columns "Total Income From All Sources" and
“Mississippi Income ONLY". Enter the totals on this
Complete Form 80-108, page 1, Schedule B, lines 1
line.
through 3. Enter interest received or credited to your
account during the tax year on bank deposits, notes,
ADJUSTMENTS
mortgages and corporation bonds. Interest on bonds
is considered income when received or credited.
Non-Resident Return: On Form 80-205, married individuals
Interest income from obligations of the U.S.
with separate incomes electing to file a combined return (both
Government,
the
State
of
Mississippi
and
spouses having earned income) must combine their
subdivisions
thereof,
is
exempt.
Interest
on
adjustments beginning with line 50, and continue throughout
obligations of other countries, states, cities, or
the schedule to determine Total Income from All Sources and
political subdivisions outside Mississippi is taxable.
Incomes Earned in Mississippi Only. Non-Resident or part-
year residents not reporting total income to Mississippi are
Line 43: Dividend Income
entitled to claim that portion of certain adjustments in the ratio
that income from sources within Mississippi.
Complete Form 80-108, page 1, Schedule B, lines 4
through 6.
Report the amount of all dividends
(Line 49, Mississippi Only Income) bears to total income from
received during your tax year. Dividends include
all sources (line 49, Total Income From All Sources). The ratio
distributions of money as well as property.
determined cannot exceed 100%. Adjustments that must be
prorated are (a) Payments to an IRA (line 50); (b) Payments
Line 44: Alimony Received
to self-employed SEP, SIMPLE, and qualified plans (line 51);
(c) Alimony Paid (line 53); (d) Moving Expenses (line 54); Self-
Enter the amount received as alimony and separate
Employed Health Insurance Deduction (line 58), Health
maintenance payments. The recipient of alimony
Savings Account Deduction (line 59), Catastrophe Savings
must include the amount received in gross income.
Account Deduction (line 60). If the adjustment to income is
For Alimony Paid, see the instructions for line 52.
not listed in lines 50 through 60, then the adjustment must be
reported on Form 80-108, Schedule N. You must give a
Line 45: Total Pensions and Annuities
description of the adjustment and enter the figure as a
negative amount. Our system will not read the statements.
Enter the total amount of taxable pensions and
An adjustment in this section requires attachment of a
annuities received on this line.
Pensions and
schedule or other detailed explanation. See the following
annuities that are taxable as early or excess
example.
distributions under the Federal Internal Revenue
Code (see Federal Form 5329) do not qualify for
Example: John and Mary Johnson moved from Arkansas to
exemption from Mississippi income tax.
Such
MS in October of 2016. Together they had $2,000 of qualified
income should be reported on this line as taxable
unreimbursed moving expenses. In completing the return,
income. Separation pay is not retirement income
John and Mary had total income of $50,000 (line 49, left
and does not qualify for exemption.
Deferred
column) and total Mississippi income of $20,000 (line 49, right
compensation plan distributions received prior to
column). On line 54, moving expense, the $2,000 of qualified
attainment
of
retirement
age
and/or
service
unreimbursed moving expenses is entered in the left column.
requirements are taxable for Mississippi purposes
On line 54, moving expense, $800 ($2,000 X (20,000/50,000))
and should be reported on this line. Do not report
is entered in the right column (Mississippi column).
Social Security benefits, annuity benefits received
under the Federal Railroad Retirement Act, or
Line 49: Payments to an IRA
retirement income on this line.
Social Security
benefits,
Railroad
Retirement
benefits,
and
You may deduct payments to an IRA to the extent
retirement income from federal, state, and private
that such payments are deductible for federal income
retirement systems are exempt in total.
tax purposes. Use the worksheet in your federal
income tax instructions to figure your deduction for
Line 46: Unemployment Compensation
payments to an IRA.
Enter
from
Form(s)
1099-G the
amount
of
Non-Resident Return: See note above concerning
unemployment compensation received in 2016.
proration.
Unemployment
compensation
is
taxable
for
Mississippi income tax purposes. Complete Form
Line 50: Payments to Self-employed SEP, SIMPLE, and
80-107.
Qualified Plans.
Line 47: Other Income or Loss
You may deduct contributions to Self-Employed
Retirement
Plans
to
the
extent
that
such
Enter the amount from Form 80-108, Part V, Line 10
contributions are deductible for federal income tax
(Schedule N).
purposes. If the contributions or any part thereof, are
not deductible for federal income tax purposes, they
Line 48: Total Income or Loss (Total Income or Loss on
are not deductible for Mississippi income tax
Non-Resident Return, line 49)
purposes.
11

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