Nc-4p Allowance Worksheet - North Carolina Department Of Revenue Page 2
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5NC-4P Allowance Worksheet
Qualifying Widow(er) -
1.
Will your N.C. itemized deductions from Page 3, Schedule 1 exceed $17,500?
Yes o
No o
2.
Will you have adjustments or deductions from income from Page 3, Schedule 2?
Yes o
No o
3.
Will you be able to claim any N.C. tax credits or tax credit carryovers from
Page 4, Schedule 4?
Yes o
No o
If you answered “No” to all of the above, STOP HERE and enter THREE (3) as total allowances on Form NC-4P, Line 2.
If you answered “Yes” to any of the above, you may choose to go to Part II to determine if you qualify for additional
allowances. Otherwise, enter THREE (3) on Form NC-4P, Line 2.
NC-4P Part II
$
.
1.
Enter your total estimated 2014 N.C. itemized deductions from Page 3, Schedule 1 ............................................ 1. _______________________
{
2.
Enter the applicable
$ 7,500 if single
N.C. standard deduction
$15,000 if married filing jointly or qualifying widow(er)
based on your filing status.
$ 7,500 if married filing separately
$
.
$12,000 if head of household ................................................................. 2. _______________________
$
.
3.
Subtract line 2 from line 1. If line 1 is less than line 2, enter ZERO (0) ................................................................. 3. _______________________
4.
Enter an estimate of your total 2014 federal adjustments to income and State deductions from
$
.
federal adjusted gross income from Page 3, Schedule 2 ....................................................................................... 4. _______________________
$
.
5.
Add lines 3 and 4
................................................................................................................................................ 5. _______________________
$
.
6.
Enter an estimate of your 2014 nonwage income (such as dividends or interest) ... 6. _____________________
7.
Enter an estimate of your 2014 State additions to federal adjusted gross
$
.
income from Page 3, Schedule 3 .......................................................................... 7. ______________________
$
.
8.
Add lines 6 and 7
................................................................................................................................................ 8. _______________________
$
.
9.
Subtract line 8 from line 5 (Do not enter less than zero) ....................................................................................... 9. _______________________
10.
Divide the amount on line 9 by $2,500 . Round down to whole number ............................................................... 10. _______________________
Ex. $3,900 ÷ $2,500 = 1.56 rounds down to 1
$
.
11.
Enter the amount of your estimated N.C. tax credits from Page 4, Schedule 4 .. 11. ______________________
12.
Divide the amount on line 11 by $145. Round down to whole number ................................................................ 12. _______________________
Ex. $200 ÷ $145 = 1.38 rounds down to 1
13.
If filing as single, head of household, or married filing separately, enter zero (0) on this line.
If filing as qualifying widow(er), enter 3.
If filing as married filing jointly, enter the appropriate number from either (a), (b), (c), or (d) below.
(a)
Your spouse expects to have zero wages and expects to receive retirement benefits that will all be nontaxable
for N.C. purposes, enter 3. (Nontaxable retirement benefits include: Bailey, Social Security, and Railroad
retirement)
(b)
Your spouse expects to have combined wages and taxable pensions of more than $1, but less than $2,500,
enter 2.
(c)
Your spouse expects to have combined wages and taxable pensions of more than $2,500 but less than
$5,000, enter 1.
(d)
Your spouse expects to have combined wages and taxable pensions of more than
$5,000, enter 0 .............................................................................................................................................13. _______________________
14.
Add lines 10, 12, and 13, and enter the total here .................................................................................................. 14. _______________________
15.
If you completed this worksheet on the basis of married filing jointly, the total number of allowances determined
on line 14 may be split between both spouses, however, they so choose. Enter the number of allowances
from line 14 that your spouse plans to claim .......................................................................................................... 15. _______________________
16.
Subtract line 15 from line 14 and enter the total number of allowances here and on line 2 of your
Form NC-4P, Withholding Certificate for Pension or Annuity Payments ........................................................ 16. _______________________
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