Individual Income Tax Return - Puerto Rico Department Of The Treasury - 2002 Page 18
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222002
In the space provided,
Ä
of all dependents who are age one or older for
whom you claim an exemption in your return.
This Schedule must be completed if you received income
for annuities or pensions exceeding $8,000 for individuals
younger than age 60, or $11,000 for individuals age 60
If you do not comply with these requirements, the
or older. Schedule H Individual provides space to report
exemption will be rejected.
the income from only one annuity or pension. Therefore,
in cases of individuals receiving more than one annuity
or pension, a separate schedule should be completed
for each annuity or pension. If the taxpayer receives
more than one annuity or pension, the exclusion will
In the space provided,
apply for each annuity or pension separately.
of
the beneficiaries for whom you made contributions to an
If you receive income from social security pension, do
Educational Contribution Account.
not complete this Schedule because the same is not
.
taxable in Puerto Rico. Otherwise, if you bought an
annuity through a financial or insurance institution, do
not complete this Schedule. Any income received from
such annuity must be informed on Schedule F
.
Individual, after considering the annuity's cost to be
recovered.
Enter the cost of the annuity or pension. The
cost of the annuity is the amount that the taxpayer paid
in order to be entitled to receive the annuity or pension.
Said cost appears in Form 499R-2/W-2PR, Part 7.
Enter the total amount received from annuities
or pensions during the year. This information appears
in Form 499R-2/W-2PR, Part 12.
Enter $8,000 if you are younger than age 60,
or enter $11,000 if you are age 60 or older.
If the total amount received during the year exceeds
$8,000 or $11,000, as applicable, only the excess over
such amount will be subject to tax. While you are
recovering the cost of the annuity or pension, you will
be taxed up to 3% of such cost.
Ä
Enter the amount of line 11 or 3% of the
cost of the annuity, whichever is larger, until you have
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