Form Hp 1040 - Individual Income Tax Return - City Of Highland Park - 2005 Page 4
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4HP 1040
RESIDENT FROM ___________________ TO ____________________
SOCIAL SECURITY NO. _______________________________
SCHEDULE 4
DATE
DATE
ATTACH THIS SCHEDULE TO YOUR HP 1040
All income while
Portion of income
COMPLETE THIS SCHEDULE ONLY IF YOU HAD INCOME
a Highland Park
earned in
SUBJECT TO THE TAX BOTH AS A RESIDENT AND NON-
Resident
Highland Park while a
RESIDENT.
Non-Resident
1
2
$
A.
GROSS WAGES (Attach W-2 or HPW-2 to front of HP 1040)
$
A.
B.
NON-TAXABLE
B.
DIVIDENDS (from Federal Tax Return)
C. INTEREST, ROYALTIES, INCOME FROM TRUSTS AND ESTATES
C.
NON-TAXABLE
D.
INCOME (OR LOSS) FROM RENTS (write location of property below)
D.
E.
NET INCOME (OR LOSS) FROM PARTNERSHIPS, BUSINESS OR
PROFESSION. Small Business Corporation, Federal form 1120S, are
not permitted to file as so-called “tax-option” corporations. Every
corporation subject to city income tax must file a return and pay the tax.
Write name of business below:
E.
F.
GAIN (OR LOSS) FROM SALE OF PROPERTY (write the location of
of property below):
F.
G.
G. OTHER - EXPLAIN
H.
H. TOTAL INCOME - BOTH COLUMNS (Add lines A through G)
I.
LESS EXEMPTIONS - FORMULA
EXEMPTIONS X 600 X % OF TIME SPENT IN HIGHLAND PARK
I.
$
$
J.
J.
TAXABLE INCOME - Line H less line I (see instructions)
$
K.
K.
TAX - RESIDENT INCOME: Multiply line J, Column 1 by 2% (.02)
$
L.
L.
TAX - NON-RESIDENT: Multiply line J, Column 2 by 1% (.01)
M.
$
M. TOTAL TAX - Add lines K and L and enter on Page 1, line 8, HP 1040
INSTRUCTIONS FOR SCHEDULE 4
WHO MUST USE THIS SCHEDULE
LINE H - TOTAL INCOME: Add lines A-G for both columns.
You must complete schedule 4 if you earned part of your income
LINE I - EXEMPTIONS: Multiply your exemptions by $600, and
while a resident, and you earned income subject to Highland
by % of time spent in Highland Park, and enter in column 1. If col-
Park while a non-resident.
umn 1, Line 1 (exemption deduction) is larger than Line H (total
income) carry all of the excess to Column 2.
If you earned income as a resident but earned no Highland Park
income while a non-resident, do not use Schedule 4; check the
LINE J - TAXABLE INCOME: Subtract Line I from Line H and
Resident Box on Page 1, HP 1040, and file as a resident, using
enter on Line J. If Column 1 shows taxable income, it may be
the resident instructions. However, include only earnings and
reduced by a loss (on city income) in column 2. If Column 1 is 0,
income earned while a resident.
Column 2 cannot be less than 0.
ATTACH THIS SCHEDULE TO YOUR HP 1040
LINE K - TAX-RESIDENT INCOME: Multiply the taxable income
in Column 1, Line J by 2% (.02) and enter on this line.
LINES A TO G - INCOME AND SUBTRACTIONS
LINE L - TAX-NON-RESIDENT INCOME: Multiply the taxable
COLUMN 1 - Include the income items as though you were filing
income in Column 2, Line J by 1% (.01) and enter on this line.
as a resident but only that portion that was earned while a resi-
dent (see resident instructions) Formula = Exemptions x $600 x
LINE M - Add Lines K and L, enter here and on Page 1, line 8,
percentage of time a resident in Highland Park.
HP 1040.
COLUMN 2 - Include the income items as though you were filing
as a non-resident but only that portion that was earned in city
while a non-resident. Formula = Exemptions x $600 x percentage
of time a non-resident.
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