Form 1040xn - Amended Nebraska Individual Income Tax Return - 2012 Page 9
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10PART B, ADJUSTMENTS DECREASING FEDERAL AGI.
Adjustments decreasing Nebraska taxable income include:
1. State income tax refund;
2. Interest or dividend income from U.S. government bonds and other U.S. obligations; and
3. Taxable Tier I and/or Tier II benefits paid by the Railroad Retirement Board.
List the source of any adjustments on an attached schedule.
Line 50, Interest or Dividend Income From U.S. Obligations. A list of qualifying U.S. government obligations is
Regulation 22-002 Computing the Nebraska Individual Income
Tax. Interest income derived from the following
included in
sources is subject to Nebraska income tax and cannot be included in the amount on line 50:
1. Savings and loan associations or credit unions;
2. Mortgage participation certificates issued by the Federal National Mortgage Association;
3. Washington D.C. Metropolitan Area Transit Authority bonds;
4. Interest on federal income tax refunds; and
5. Gains on the sale of tax-exempt municipal bonds and U.S. government obligations.
If the interest or dividend income from U.S. government obligations is derived from a partnership, fiduciary, or S corporation,
then the partner, beneficiary, or shareholder claiming the Nebraska adjustment decreasing federal taxable income must attach
the applicable Federal Schedule K-1.
Line 52, Special Capital Gains/Extraordinary Dividends Deduction. If you are correcting the amount of special
capital gains/extraordinary dividends deduction, copies of the original and corrected
Special Capital Gains/Extraordinary
Dividend Election and Computation, Form
4797N, and Federal Schedule D must be attached.
Line 55, Other Adjustments Decreasing Income. Enter other adjustments decreasing income.
• An S corporation’s or LLC’s income distribution from non-Nebraska sources decreases income and is reported on
line 55. A Nebraska NOL deduction is also reported on line 55.
• Native American Indians residing on a Nebraska reservation with income derived from sources within the boundaries
of the reservation may deduct this income on line 55.
Resident military personnel cannot deduct military pay as this is not an allowable adjustment decreasing federal taxable income.
Also, residents are not allowed to deduct income earned or derived outside Nebraska. However, a resident may be entitled to a
credit for income tax paid to another state. See the instructions for Credit for Tax Paid to Another State, Nebraska Schedule II.
Line 56, Total Adjustments Decreasing Income. Enter the total of lines 49 through 55.
INSTRUCTIONS FOR NEBRASKA SCHEDULE II
Credit for Tax Paid to Another State for Full-Year Residents Only
A credit for tax paid to another state is allowed only for full-year Nebraska residents. A change on line 17, Form 1040XN,
Total Nebraska Tax, requires Credit for Tax Paid to Another State, Schedule II, to be recalculated. If the amended Schedule
II on the back of Form 1040XN is not completed, adequate supporting schedules must be attached.
If another state’s return is amended or changed by the other state, Form 1040XN must be filed to report the change in the credit
for tax paid to the other state. Attach a complete dated copy of the corrected return, including schedules and attachments, or a
copy of a letter or statement from the other state or subdivision, indicating the amount of income reported and corrected tax
paid. If the subdivision does not require that an income tax return be filed, attach a copy of the statement from the employer
showing the corrected amount of tax withheld. Failure to attach supporting documents may cause this credit to be disallowed.
Refer to the instructions on
Schedule II of Form 1040N
for more details on the calculation and limitations of this credit.
Line 58, Adjusted Gross Income From Another State. If lines 58 or 60 are changed, a complete dated copy of the
corrected return filed with another state must be attached. If the entire return is not attached, credit for tax paid to another
state will not be allowed.
INSTRUCTIONS FOR NEBRASKA SCHEDULE III
Computation of Nebraska Tax
Nonresidents and Partial-Year Residents. If you have income derived from Nebraska sources and Nebraska adjustments
to income, you must first complete lines 48 through 56. Use the copy of your original return and instructions to make the
necessary tax computations. Enter the amounts from lines 48 and 56 of Schedule I on lines 12 and 13 of Form 1040XN,
respectively.
Line 62, Income Derived From Nebraska Sources. This includes income from wages, interest, dividends, business,
farming, partnerships, S corporations, LLCs, estates and trusts, gains or losses, rents and royalties, and personal services
provided in Nebraska by nonresidents.
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