Form J1040 - Income Tax Individual Return - City Of Jackson - 2010 Page 4
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4j60137-Jackson NonMailer
1/12/11
1:36 PM
Page 8
J 1040
ATTACH THIS SCHEDULE TO YOUR J 1040
All income while
Portion of income
a Jackson
earned in
SCHEDULE 4
COMPLETE THIS SCHEDULE ONLY IF YOU HAD INCOME
resident
Jackson while a
SUBJECT TO THE TAX BOTH AS A RESIDENT AND
Non - Resident
NON-RESIDENT
1
2
A.
$
$
A.
GROSS WAGES (Attach W-2 to front of J 1040)...................................................
NON-TAXABLE
B.
B.
DIVIDENDS (10C from Federal Tax Return) .........................................................
NON-TAXABLE
C.
C. INTEREST, ROYALTIES, INCOME FROM TRUSTS AND ESTATES ....................
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 the property below:)...........................................................................................
_______________________________________________________________
_______________________________________________________________
F.
G.
G. OTHER - EXPLAIN................................................................................................
H.
H. TOTAL INCOME - BOTH COLUMNS (Add lines A through G)..............................
I.
LESS EXEMPTIONS - Multiply number claimed by $600 and enter
this amount in Column 1 (if more than Column 1, line H, carry
I.
excess to Column 2) ..............................................................................................
J.
$
$
J.
TAXABLE INCOME - Line H less line I (see instructions) .....................................
K.
$
K.
TAX - RESIDENT INCOME: Multiply line J, Column 1 by 1% (.01)..............................................................
1
L.
L.
TAX - NON-RESIDENT: Multiply line J, Column 2 by
/
% (.005) ................................................................
2
M.
$
M. TOTAL TAX - Add lines K and L and enter on Page 1, line 7, J 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
LINE I - EXEMPTIONS: Multiply your exemptions by $600
income while a resident, and you earned income subject to
and enter in Column 1. If Column 1, Line I (exemption deduc-
Jackson tax while a non-resident.
tion) 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 Jackson
income while a non-resident, do not use Schedule 4; check
LINE J - TAXABLE INCOME: Subtract Line I from Line H
the Resident Box on page 1, J1040, and file as a resident,
and enter on line J. If Column 1 shows taxable income, it may
using the resident instructions. However, include only earn-
be reduced by a loss (on city income) in Column 2. If column
ings and income earned while a resident.
1 is 0, Column 2 cannot be less than 0.
ATTACH THIS SCHEDULE TO YOUR J 1040
LINE K - TAX-RESIDENT INCOME: Multiply the taxable
income in Column 1, line J by 1% (.01) and enter on this line.
lines A to G - income and subtractions
LINE L - TAX-NON-RESIDENT: Multiply the taxable income
COLUMN 1 - Include the income items as though you were
1
in Column 2, Line J by
/
% (.005) and enter on this line.
2
filing as a resident but only that portion that was earned while
a resident (see resident instructions.)
LINE M - Add lines K and L, enter here and on page 1, line 7
J 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.
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