Form Mo-1040 - Individual Income Tax Return - Long Form

10 — E

1— F

11 — T

INE

XEMPT

ONTRIBUTIONS

INE

EDERAL

TEMIZED

INE

OTAL

ISSOURI

— M

ISSOURI

AVINGS FOR

UITION

EDUCTIONS

TEMIZED

EDUCTIONS

(MOST)

If your total Missouri itemized deductions

Include your total federal itemized deduc-

ROGRAM

AND

tions from Federal Form 1040, Line 40, and

are less than your standard deduction (see

ISSOURI

IGHER

DUCATION

Page 7, Line 14), you should take the stan-

any approved cultural contributions (liter-

(529 P

)

EPOSIT

ROGRAM

LAN

dard deduction on Form MO-1040, Line 14,

ary, musical, scholastic, or artistic) to a tax

The state of Missouri allows a subtraction from

unless you were required to itemize your

exempt agency or institution that is oper-

federal adjusted gross income for the amount

federal deductions.

ated on a not-for-profit basis. Cash con-

of annual contributions made to the Missouri

tributions do not qualify. Contact the

Savings for Tuition Program (MOST) and/or

Department of Revenue at (573) 751-3505

ART

qualified 529 plan administered by the

to determine if your contribution qualifies.

Missouri Higher Education Deposit Program.

ENSION AND

OCIAL

The maximum annual exempt contribution per

3 — S

INES

AND

OCIAL

ECURITY

OCIAL

ECURITY

taxpayer is $8,000. The subtraction cannot

(FICA)

ECURITY

result in a negative Missouri adjusted gross

Social security tax is the amount in social

ISABILITY

XEMPTION

income for either taxpayer. If you are a partici-

security tax withheld box on your Form

pant claiming a subtraction for a contribution

If you are claiming a pension and/or social

W-2(s). This amount cannot exceed

made to the savings program, you must attach

security/social

security

disability

$6,045. Medicare is the amount in the

your statement provided by the program

exemption, you must attach a copy of your

Medicare tax withheld box on your Form

manager. The statement must be in the name

federal return (pages 1 and 2), your form

W-2(s). Enter the total on Line 2. Repeat for

of the taxpayer claiming the subtraction.

1099-R(s), and/or SSA-1099(s). Failure to

your spouse and enter the total on Line 3.

provide this information will result in your

11 — Q

INE

UALIFIED

EALTH

5 — R

INES

AND

AILROAD

exemption being disallowed.

NSURANCE

REMIUMS

ETIREMENT

Enter the amount you paid for health

UBLIC

ENSION

ALCULATION

Include the amount of railroad retirement

insurance premiums. Do not include any

Public pensions are pensions received from

tax withheld from your wages, Tier I and

pre-tax premiums paid or any excluded

any federal, state, or local government. If

Tier II, during 2007. This amount cannot

from federal taxable income.

you have questions about whether your

exceed $8,876. (Tier I maximum of $6,045

pension is a public or a private pension,

and Tier II maximum of $2,831.) Enter the

12 — D

INE

EPRECIATION

DJUSTMENT

contact your pension administrator.

total on Line 4. Repeat for your spouse and

If you purchased an asset between July 1,

1 — M

enter the total on Line 5.

INE

ISSOURI

DJUSTED

2002, and June 30, 2003, and you elected to

If you have both FICA and railroad retirement

use the 30 percent depreciation on your

ROSS

NCOME

ESS

AXABLE

OCIAL

federal return, you may be able to subtract a

tax, the maximum deduction allowed is the

ECURITY

ENEFITS

amount withheld as shown on the Form W-

portion of the depreciation. Enter the addi-

Include your Missouri adjusted gross

2(s) less, either the amount entered on Federal

tional depreciation created by the Job

income from Form MO-1040, Line 6, less

Form 1040, Line 67, or, if only one employer,

Creation and Worker Assistance Act previ-

your taxable social security benefits. Your

the amount refunded by the employer.

ously added back in prior years to the extent

taxable social security benefits can be

allowable by Missouri Law (RSMo, 143.121).

found on:

6 — S

-E

INE

ELF

MPLOYMENT

This amount is computed by figuring the

• Federal Form 1040A—Line 14b

Include as your self-employment tax the

allowable depreciation prior to the Job

• Federal Form 1040—Line 20b

amount from Federal Form 1040, Line 27.

Creation and Worker Assistance Act less the

4 — T

INE

OTAL

OCIAL

ECURITY

depreciation taken on your federal return. If

8 — S

INE

TATE AND

ENEFITS

you have previously taken an addition modi-

OCAL

NCOME

AXES

Include the total 2007 social security

fication for a qualifying property, but have

Include the amount of income taxes from

benefits for each spouse. This information

sold or disposed of the property during the

Federal Form 1040, Schedule A, Line 5.

can be found on:

taxable year, check the box on Line 12 and

Do not include general sales taxes on Line

• Federal Form 1040A—Line 14a

take a subtraction for the amount not previ-

8. The amount you paid in state income

• Federal Form 1040—Line 20a

ously recovered.

More information and

taxes included in your federal itemized

examples can be found on the department’s

5 — T

deductions, must be subtracted to deter-

INE

AXABLE

OCIAL

ECURITY

web site at

mine Missouri itemized deductions.

ENEFITS

13 — T

Include the taxable 2007 social security

If your federal adjusted gross income

INE

OTAL

UBTRACTIONS

benefits for each spouse. This information

from Federal Form 1040, Line 37, is

Add Lines 7 through 12. Enter the total on

can be found on:

greater than $156,400 ($78,200 for

Form MO-A, Part 1, Line 13 and on Form

• Federal Form 1040A— Line 14b

married filing separate), skip Lines 8 and

MO-1040, Line 4.

• Federal Form 1040—Line 20b

9. Complete the Worksheet for Line 10

Note: Do not include income earned in

to determine the correct amount to sub-

Taxable social security benefits must be

other states on Line 13. Complete Form

tract. If you do not complete the work-

allocated by each spouse’s share of the

MO-NRI (Missouri Income Percentage) or

sheet, your Missouri itemized deductions

benefits received for the year. Enter each

Form MO-CR (Credit for Income Taxes Paid

will be lower than they should be, and

spouse’s portion of the taxable social

to Other States or Political Subdivisions). See

you will pay too much tax.

security on Line 5. Please see the following

Form MO-1040, Line 26 or Line 27.

for an example of this calculation:

For Lines 1 and 2 of the worksheet, you

will need your Federal Itemized Deduc-

ART

Example:

tion Worksheet found on page A-10 of the

Husband has total social security benefits of

Federal Schedule A instructions.

ISSOURI

TEMIZED

$23,000. Wife has total social security

9 — E

INE

ARNINGS

AXES

benefits of $15,000. Their total combined

EDUCTIONS

If you entered an amount on Line 8 and you

social security benefit is $38,000. The

You cannot itemize your Missouri deduc-

live or work in the Kansas City or St. Louis

husband’s percentage of the total is 61%

tions if you took the standard deduction on

area, you may have included earnings taxes.

($23,000 / $38,000 = 60.52%). The wife’s

your federal return. See Page 7, Line 14.

Include on Line 9 the amount of earnings

percentage of the total is 39% ($15,000 /

You must itemize your Missouri deduc-

taxes withheld shown on Form W-2(s). See

$38,000 = 39.47%). Their combined taxable

tions if you were required to itemize on

Diagram 1, Page 44, Box 19.

social security benefit is $31,000.

your federal return.

Form Mo-1040 - Individual Income Tax Return - Long Form - 2007 Page 33

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