Form 1040s-Me - Maine Individual Income Tax

Name(s) as shown on Form 1040S-ME

Your Social Security Number

2010 - Worksheet for Pension Income Deduction - Form 1040S-ME, Line 14

Enclose this Worksheet and copies of your 1099 form(s) with your Form 1040S-ME

Pension beneﬁ ts that do not qualify are those received from an

You and your spouse (if married) may each deduct up to $6,000

individual retirement account (including SIMPLE individual retirement

of eligible pension income

that is included in your federal adjusted

accounts), simpliﬁ ed employee pension plan, beneﬁ ts from an

gross income. Except for military pension beneﬁ ts, the $6,000 cap

ineligible deferred compensation plan under IRC section 457(f),

must be reduced by any social security and railroad retirement

refunds of excess contributions, lump-sum distributions included on

beneﬁ ts received, whether taxable or not.

federal Form 4972 and distributions subject to the additional 10%

Deductible pension income includes state, federal and military pension

federal tax on early distributions (see federal Form 5329, Part 1, or

beneﬁ ts, as well as retirement beneﬁ ts received from plans established

federal Form 1040, line 58). Also, disability beneﬁ ts reported as

and maintained by an employer for the beneﬁ t of its employees under

wages on your federal income tax return do not qualify.

Internal Revenue Code (IRC) sections 401(a) (Qualiﬁ ed Pension

*Eligible pension income does not include beneﬁ ts earned by

Plans, including qualiﬁ ed 401 SIMPLE plans) and 403 (Employee

another person, except in the case of a surviving spouse. Only

annuities). Deductible pension income also includes beneﬁ ts received

the individual that earned the beneﬁ t from prior employment may

under IRC section 457(b) (State and local government/tax exempt

claim the pension income for the deduction. However, a widowed

organizations/eligible deferred compensation plans),

except that

spouse receiving survivor’s beneﬁ ts under an eligible pension

pension income from 457(b) plans received prior to age 55 that is

plan may claim that amount for purposes of this deduction, but

not part of a series of equal periodic payments made over the life of

the total pension deduction for the surviving spouse may not

the recipient and the recipient’s designated beneﬁ ciary, if applicable,

exceed $6,000.

may not be included in the deductible pension amount.

NOTE: Enter eligible non-military pension beneﬁ ts on line 1 and eligible military pension beneﬁ ts on line 6.

1. Total eligible non-military pension income (both Maine and non-Maine sources) included in your

federal adjusted gross income (from federal Form 1040A, line 12b or Form 1040, line 16b). (Do not

Taxpayer

Spouse*

include social security or railroad retirement beneﬁ ts received or pension beneﬁ ts received from an

individual retirement account, simpliﬁ ed employee pension plan, an ineligible deferred compensation

plan under IRC § 457(f), lump-sum distributions included on federal Form 4972, distributions subject

to the additional 10% federal tax on early distributions or refunds of excess contributions).

2. Maximum allowable deduction

$ 6,000.00

3. Total social security and railroad retirement beneﬁ ts you received - whether taxable or not

4. Subtract line 3 from line 2 (if zero or less, enter zero)

5. Enter the smaller of line 1 or line 4 here

6. Total eligible military pension income included in your federal adjusted gross income

7. Add line 5 and line 6

8. Enter the smaller of line 2 or line 7 here and the total for both spouses on line 14,

Form 1040S-ME

*Use this column only if ﬁ ling married-joint return and only if spouse separately earned an eligible pension.

Form 1040s-Me - Maine Individual Income Tax - 2010 Page 4

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