1040me Long Form - Maine Individual Income Tax - 2003 Page 4
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2
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4Name(s) as shown on Form 1040ME
Your Social Security Number
-
-
Attachment
2003 - Worksheet for Pension Income Deduction - Schedule 1, Line 2d
3
Sequence No.
Enclose this Worksheet and copies of your 1099 form(s) with your Form 1040ME
*
You and your spouse (if married) may each deduct up to $6,000 of eligible pension income
that is included in your federal adjusted gross
income. Except for military pension benefits, the $6,000 cap must be reduced by any social security and railroad retirement benefits received,
whether taxable or not.
Deductible pension income includes state, federal, and military pension benefits as well as retirement benefits received from plans established
and maintained by an employer for the benefit of its employees under Internal Revenue Code (IRC) sections 401(a) (Qualified Pension Plans,
including qualified 401 SIMPLE plans), and 403 (Employee annuities). Deductible pension income also includes benefits received under IRC
section 457(b) (State and local government/tax exempt organizations/eligible deferred compensation plans),
except that pension income from
457(b) plans received prior to age 55 that is not part of a series of equal periodic payments made over the life of the recipient and the recipient’s
designated beneficiary, if applicable, may not be included in the deductible pension amount.
Pension benefits that do not qualify are those received from an individual retirement account (including SIMPLE individual retirement accounts),
simplified employee pension plan, benefits from an ineligible deferred compensation plan under IRC section 457(f), refunds of excess contributions,
lump-sum distributions included on federal Form 4972, and distributions subject to the additional 10% federal tax on early distributions (see federal
Form 5329, Part 1, or federal Form 1040, line 57). Also, disability benefits reported as wages on your federal income tax return do not qualify.
*Eligible pension income does not include benefits earned by another person, except in the case of a surviving spouse. Only the
individual that earned the benefit from prior employment may claim the pension income for the deduction. However, a widowed spouse
receiving survivor’s benefits under an eligible pension plan may claim that amount for purposes of this deduction, but the total pension
deduction for the surviving spouse may not exceed $6,000.
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2003 WORKSHEET for Maine Schedule 1, line 2f
For individuals claiming a deduction for long-term care insurance premiums. Do not complete if you are not claiming Maine itemized deductions
or if federal Schedule A, line 4 is zero.
1. Enter total amount of long-term care insurance premiums paid during 2003: ............. $
2. Enter amount from federal Schedule A, line 1 .......................................................................................................... $ ________________
3. Enter amount of long-term care premiums included in line 2 above ........................................................................ $ ________________
4. Divide line 3 by line 2 ................................................................................................................................................
__ . __ __ __ __
5. Enter amount from federal Schedule A, line 4 $ _______________ and multiply by percentage on line 4 above .... $ ________________
6. Subtract line 5 from line 1. Enter result here and on Schedule 1, line 2f ................................................................ $ ________________
2003 WORKSHEET for Maine Schedule 2, line 5a
For individuals whose federal adjusted gross income exceeds $139,500 [$69,750 if Married filing separate].
1. Enter total state and local income taxes (from federal Schedule A, line 5) .............................................................. $ ________________
2. Enter federal itemized deductions subject to 3% reduction (from federal itemized deduction worksheet, line 3) ... $ ________________
3. Divide line 1 by line 2. Enter result here ..................................................................................................................
__ . __ __ __ __
4. Enter federal itemized deductions disallowed (from federal itemized deduction worksheet, line 9) ........................ $ ________________
5. Multiply line 4 by the percentage on line 3. Enter result here .................................................................................. $ ________________
6. Subtract line 5 from line 1. Enter result here and on Schedule 2, line 5a ............................................................... $ ________________
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