Schedule Co Individual - Optional Computation Of Tax - 2010 Page 2
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1
2Rev. 01.11
Schedule CO Individual - Page 2
G)
Casualty loss on your principal residence (See instructions) .......................................
00
(22)
17
Medical expenses (Schedule J Individual, line 4) .....................................................
H)
(23)
00
I)
Charitable contributions (Schedule J Individual, line 11) .............................................
00
(24)
J)
Loss of personal property as a result of certain casualties (See instructions) ..................
(25)
00
K)
Expenses incurred in the purchase of technological assistance equipment for handicapped
persons, specialized treatment or chronic disease: Fill in:
1 Taxpayer
2 Spouse
(26)
3 Others
4 Taxpayer and Spouse
5 Taxpayer and Others
6 Spouse and Others
7 Taxpayer, Spouse and Others .....................................
00
(27)
Dependent's education expenses (See inst. $1,500 - one dep.; $3,000 - two or more dep.) ......
L)
00
(28)
M)
Solar equipment expenses .............................................................................
00
(29)
N)
Interest paid on students loans at university level (See instructions):
Financial inst.
Loan No.
Employer Ident. No.
Amount
(30)
(32)
(31)
(33)
Total interest paid on students loans at university level .........................
00
(34)
Contributions to the Fund for Services against Remediable Catastrophic Diseases
O)
(See instructions) ....................................................................................................
00
(35)
C - SPOUSE
P)
Total itemized deductions (Add lines 8A through 8 O) ............................................
B - TAXPAYER
(36)
00
Q)
Enter in Columns B and C, 50% of the total of line 8P ...................................................................................
18
00
(43)
00
(01)
9.
Standard or itemized deductions (Enter the larger of lines 7 or 8Q, Columns B and C, respectively) ................
00
(44)
00
(02)
10.
Additional Deductions:
A. Contributions to an individual retirement account (Do not exceed from $5,000 each)
Financial inst.
Loan No.
Employer Ident. No.
Contribution
(03)
(06)
(04)
(07)
(05)
(08)
Total contributions to individual retirement accounts (Distribute the amount as it corresponds to the taxpayer and spouse) ....
00
(45)
00
(09)
B. Contributions to health savings accounts with a high annual deductible medical plan (See instructions):
Employer Ident. No.
Contribution
Institution
Account Number
________________
_________________________
________________________
_______________________
(12)
(16)
Effective date
Annual deductible
___________ Type of
1 Individual
2 Individual and age 55 or older
(17)
(10)
(13)
__________________
coverage:
3 Family
4 Family and age 55 or older
Employer Ident. No.
Contribution
Institution
Account Number
________________
_________________________
________________________
_______________________
(14)
(18)
Effective date
Annual deductible
___________ Type of
1 Individual
2 Individual and age 55 or older
(19)
(11)
(15)
__________________
coverage:
3 Family
4 Family and age 55 or older
Total contributions (Add the smaller amount between the contribution and the annual deductible of each account.
Distribute the amount as it corresponds to the taxpayer and his spouse) ...................................................................
00
(46)
00
(20)
00
C. Contributions to governmental pension or retirement systems .............................................................................
(47)
00
(21)
D. Deduction for Veterans (See Instructions) ....................................................................................................
00
(48)
00
(22)
00
E. Ordinary and necessary expenses (Schedule I Individual, line 8) ..................................................................
(49)
00
(23)
F. Automobile loan interest (Do not exceed from a total of $1,200. See instructions):Financial inst. ________________
Loan No: ___________________________ Employer Identification No.
___________________________
00
(50)
00
(25)
(24)
00
G. Young people who work (See instructions) ..................................................................................................
(51)
00
(26)
H. Educational Contribution Account (Schedule A1 Individual, Part II, line (10)) (See instructions) ........................
00
(52)
00
(27)
00
I. Acquisition and installation of a computer used by dependents (See instructions) ............................................
(53)
00
(28)
J. Contributions to the Endowment Fund of the University of Puerto Rico ........................................................
00
(54)
00
(29)
00
K. Total Additional Deductions (Add lines 10A through 10J, Columns B and C, respectively) ........................
(55)
00
(30)
11.
Telephone service payment for communication with military personnel in combat zone (See instructions)..
00
(56)
00
(31)
12.
PERSONAL EXEMPTION .......................................................................................................................
1,500
00
(57)
1,500
00
(32)
13.
EXEMPTION FOR DEPENDENTS (Complete Schedule A1 Individual, see instructions)
00
A) Non university: Category (N) ........................................
_____ x $2,500 .........
(36)
(33)
B) University student: Category (U) ...................................
_____ x $2,500 ..........
00
(37)
(34)
C) Disabled, blind or age 65 or older: Category (I) ...................
_____ x $2,500 ............
00
(38)
(35)
D)Total exemption for dependents (Add lines 13A through 13C) .................................
(39)
00
00
E) Enter 50% of the total of line 13D in Columns B and C ...................................................................................
(58)
00
(40)
14.
Total Deductions and Exemptions (Add lines 9, 10K, 11, 12 and 13E, Columns B and C, respectively) ............
00
(59)
00
(41)
15.
00
NET TAXABLE INCOME (Subtract line 14 from line 6. If line 14 is larger than line 6, enter zero) ....................................
(60)
00
(42)
16.
TAX AS PER:
1 Tax Table
2 Special tax on capital gains
(01)
19
3 Nonresident alien ............................................................................................................................
00
00
(14)
(02)
17.
Gradual Adjustment Amount (Determine this adjustment if the amount indicated on line 15 is larger than $37,500 in
Columns B or C) (Schedule P Individual, line 7) ...............................................................................................
00
00
(15)
(03)
18.
Excess of Alternate Basic Tax over Regular Tax (Schedule O Individual, Part II, line 5) ..........................................
00
00
(16)
(04)
19.
Tax on interest subject to withholding (Schedule F Individual, Part I, line 6) ........................................................
00
00
(17)
(05)
20.
Special tax on corporate dividends and partnerships distributions subject to withholding (Schedule F Individual, Part II,
line 4A) ....................................................................................................................................................
00
00
(18)
(06)
21.
Tax on dividends from Capital Investment or Tourism Fund (Submit Schedule Q1)..............................................
00
00
(19)
(07)
22.
Tax on IRA or Educational Contribution Accounts distributions of income from sources within P.R. (Schedule F Individual,
Part VII, line 2) .......................................................................................................................................
00
00
(20)
(08)
23.
Tax on IRA distributions to Government pensioners (Schedule F Individual, Part VII, line 3) ................................
00
00
(21)
(09)
24.
Tax on distributions and transfers from Governmental Plans (Schedule F Individual, Part V, line 3) .......................
00
00
(22)
(10)
25.
Special tax on net income from Film or Infrastructure Projects, and from businesses with a tax exemption decree under
Act 135 of 1997 (Schedule K Individual, Part II, line 10 or Schedule N Individual, Part II, line 8) ..........................
00
00
(23)
(11)
26.
Income tax from Major League Baseball teams and the U.S. National Basketball Association (Schedule F Individual,
Part VI, line 2) .........................................................................................................................................
00
00
(24)
(12)
27.
Tax Determined Individually (Add lines 16 through 26, Columns B and C, respectively) ......................................
00
00
(25)
(13)
28.
TOTAL TAX DETERMINED (Add the amounts in Columns B and C of line 27 and transfer it to Part 4, line 26 of the
00
Long Form) ......................................................................................................................................................................................
(26)
Continue in Part 4 , líne 26 of the Long Form.
Retention Period: Ten (10) years
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