Form Mo-1040 - Individual Income Tax Return - Long Form - 2007 Page 20
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44PART 3
PUBLIC PENSION CALCULATION
1. Enter your Missouri Adjusted Gross Income from Form MO-1040, Line 6, less taxable social security benefits from Federal
1
00
Form 1040A, Line 14b or Federal Form 1040, Line 20b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Select the appropriate filing status and enter amount on Line 2. Married filing combined — $100,000; Single, Head of
2
00
Household, Married Filing Separate, and Qualifying Widower — $85,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
00
3. Subtract Line 2 from Line 1 and enter on Line 3. If Line 2 is greater than Line 1, enter $0. . . . . . . . . . . . . . . . . . . . . . . . . . .
Y—YOURSELF
S—SPOUSE
4Y
00 4S
00
4. Enter your total social security benefits from Federal Form 1040A, Line 14a or Federal Form 1040, Line 20a . . . . . . . . . . . .
5Y
00 5S
00
5. Enter your taxable social security benefits from Federal Form 1040A, Line 14b or Federal Form 1040, Line 20b . . . . . . . . .
6Y
00 6S
00
6. Non taxable social security benefits, subtract Line 5 from Line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7. Enter taxable pension for each spouse from public sources
7Y
00 7S
00
(public pensions and pensions from other than private sources) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8Y
00 8S
00
8. Multiply Line 7 by 20%. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. If amount on Line 8 is greater than $32,500 (maximum social security benefit), enter $32,500. If amount on Line 8
9Y
00 9S
00
is less than $32,500, enter amount from Line 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10Y
00 10S
00
10. Subtract Line 6 from Line 9. If Line 6 is greater than Line 9, enter $0 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11Y
00 11S
00
11. Enter pension amount from Line 7 or $6,000, whichever is less. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12Y
00 12S
00
12. Enter Line 10 or Line 11, whichever is greater . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13
00
13. Add amounts on Lines 12Y and 12S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
00
14. Total public pension, subtract Line 3 from Line 13. If Line 3 is greater than Line 13, enter $0 . . . . . . . . . . . . . . . . . . . . . . .
PRIVATE PENSION CALCULATION
1
00
1. Enter your Missouri Adjusted Gross Income from Form MO-1040, Line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
00
2. Enter your taxable social security benefits from Federal Form 1040A, Line 14b or Federal Form 1040, Line 20b . . . . . . . . .
3. Subtract Line 2 from Line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
00
4. Select the appropriate filing status and enter the amount on Line 4: Married filing combined: $32,000; Single, Head of
4
00
Household and Qualifiying Widower: $25,000; Married Filing Separate: $16,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
00
5. Subtract Line 4 from Line 3. If Line 4 is greater than Line 3, enter $0 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Y - YOURSELF
S - SPOUSE
6Y
00 6S
00
6. Enter taxable pension for each spouse from private sources. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7Y
00 7S
00
7. Enter the amounts from Line 6Y and 6S or $6,000, whichever is less . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
00
8. Add Lines 7Y and 7S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. Total private pension, subtract Line 5 from Line 8. If Line 5 is greater than Line 8, enter $0 . . . . . . . . . . . . . . . . . . . . . . . .
9
00
SOCIAL SECURITY OR SOCIAL SECURITY DISABILITY CALCULATION
— To be eligible for social security deduction you must be 62 years of
age by December 31 and have marked the 62 and older box on page 1 of Form MO-1040. Age limit does not apply to social security disability deduction.
1
00
1. Enter your Missouri Adjusted Gross Income from Form MO-1040, Line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Select the appropriate filing status and enter the amount on Line 2. Married filing combined - $100,000
2
00
Single, Head of Household, Married Filing Separate, and Qualifying Widower - $85,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
00
3. Subtract Line 2 from Line 1 and enter on Line 3. If Line 2 is greater than Line 1, enter $0 . . . . . . . . . . . . . . . . . . . . . . . . . . .
Y - YOURSELF
S - SPOUSE
4Y
00 4S
00
4. Enter taxable social security benefits for each spouse . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5Y
00 5S
00
5. Enter taxable social security disability benefits for each spouse. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6Y
00 6S
00
6. Add Lines 4 and 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7Y
00 7S
00
7. Multiply Line 6 by 20% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
00
8. Add Lines 7Y and 7S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. Total social security/social security disability, subtract Line 3 from Line 8. If Line 3 is greater than Line 8, enter $0. . . .
9
00
TOTAL PENSION AND SOCIAL SECURITY / SOCIAL SECURITY DISABILITY EXEMPTION
Total Pension Exemption and Social Security / Social Security Disability Exemption. Add Line 14 (Public Pension Calculation),
TOTAL
EXEMPTION
Line 9 (Private Pension Calculation), and Line 9 (Social Security Exemption) and enter here and on Form MO-1040, Line 8 . . . .
00
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial