Schedule P Individual- Gradual Adjustment - Government Of Puerto Rico - 2012

Schedule P Individual

Rev. Feb 19 13

GRADUAL ADJUSTMENT

2012

Taxable year beginning on _________________, ______ and ending on ________________, ______

Taxpayer's name

Social Security Number

Fill in one:

(01)

1 Taxpayer

2 Spouse

3 Both

93

Net Taxable Income (Part 2, line 12 of the return, line 14, Column B or C of Schedule CO Individual, as applicable,

1.

00

or line 10, Column A of Schedule A2 Individual, as applicable) ......................................................................................

(02)

00

Enter $200,000 .............................................................................................................................................................

2.

(03)

00

Subtract line 2 from line 1 ...............................................................................................................................................

3.

(04)

00

5% of line 3 ...................................................................................................................................................................

4.

(05)

5.

Limit:

00

(a) Enter $9,367 .................................................................................................................

(06)

(b) Plus: 33% of personal exemption, additional personal exemption for veterans and

exemption for dependents (Lines 8, 9 and 10 from Part 2 of the return or lines 10, 11D

00

(07)

and 12, Column B or C, of Schedule CO Individual) .....................................................

00

Total limit (Add lines 5(a) and 5(b)) ................................................................................................................................

6.

(08)

7.

Gradual adjustment (The smaller of line 4 or 6. Enter here and in Part 3, line 14 of the return or line 16, Column B or

00

C of Schedule CO Individual, as applicable) ..................................................................................................................

(10)

Retention Period: Ten (10) years