Form 8689 - Allocation Of Individual Income Tax To The U.s. Virgin Islands Form (2006) - Internal Revenue Service
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1OMB No. 1545-0074
Allocation of Individual Income Tax
8689
2006
Form
to the U.S. Virgin Islands
Attachment
Department of the Treasury
Attach to Form 1040.
85
Sequence No.
Internal Revenue Service
Name(s) shown on Form 1040
Your social security number
Part I
Income From the U.S. Virgin Islands
1
1
Wages, salaries, tips, etc.
2
2
Taxable interest
3
3
Ordinary dividends
4
4
Taxable refunds, credits, or offsets of local U.S. Virgin Islands income taxes
5
5
Alimony received
6
6
Business income or (loss)
7
7
Capital gain or (loss)
8
8
Other gains or (losses)
9
9
IRA distributions (taxable amount)
10
10
Pensions and annuities (taxable amount)
11
11
Rental real estate, royalties, partnerships, S corporations, trusts, etc.
12
12
Farm income or (loss)
13
13
Unemployment compensation
14
14
Social security benefits (taxable amount)
15
15
Other income. List type and amount.
16
Add lines 1 through 15. This is your total income
16
Part II
Adjusted Gross Income From the U.S. Virgin Islands
17
17
Archer MSA deduction
18
Certain business expenses of reservists, performing artists, and fee-basis
18
government officials
19
19
Health savings account deduction
20
20
Moving expenses
21
21
One-half of self-employment tax
22
22
Self-employed SEP, SIMPLE, and qualified plans
23
23
Self-employed health insurance deduction
24
24
Penalty on early withdrawal of savings
25
25
IRA deduction
26
26
Student loan interest deduction
27
27
Jury duty pay you gave to your employer
28
28
Add lines 17 through 27
29
Subtract line 28 from line 16. This is your adjusted gross income
29
Part III
Allocation of Tax to the U.S. Virgin Islands
30
30
Enter amount from Form 1040, line 63
31
Enter the total of the amounts from Form 1040, lines 58, 59, 62, 66a, and 68. Include any uncollected social security
and Medicare or tier 1 RRTA tax, tax on golden parachute payments, or excise tax on insider stock compensation
31
reported on line 63. Also include any amount from Form 5329, Parts III, IV, V, VI, VII, or VIII reported on line 60
32
32
Subtract line 31 from line 30
33
33
Enter amount from Form 1040, line 38
.
34
34
Divide line 29 above by line 33. Enter the result as a decimal (rounded to at least 3 places). Do not enter more than 1.000
35
Multiply line 32 by line 34. This is your tax allocated to the U.S. Virgin Islands
35
Part IV
Payments of Income Tax to the U.S. Virgin Islands
36
36
Income tax withheld by the U.S. Virgin Islands
37
37
2006 estimated tax payments and amount applied from 2005 return
38
38
Amount paid with Form 4868 (extension request)
39
Add lines 36 through 38. These are your total payments
39
40
Enter the smaller of line 35 or line 39. Also, include this amount in the total on Form 1040, line 72. On
the dotted line next to line 72, enter "Form 8689" and show this amount
40
41
41
Overpayment to the U.S. Virgin Islands. If line 39 is more than line 35, subtract line 35 from line 39
42
Amount of line 41 you want refunded to you
42
43
43
Amount of line 41 you want applied to your 2007 estimated tax
44
Amount you owe to the U.S. Virgin Islands. Subtract line 39 from line 35. Enter the amount that you
are paying here and on Form 1040, line 72. Next to line 72, enter “Form 8689” and the amount paid
44
8689
For Paperwork Reduction Act Notice, see back of form.
Form
(2006)
Cat. No. 64603D
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