Instructions For Arizona Form 140 - Resident Personal Income Tax Return - 2014 Page 14
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
26A
A
r
r
i
i
z
z
o
o
o
o
n
n
a
a
F
F
o
o
r
r
m
m
1
1
4
4
0
0
amo
ount of deferre
ed DOI incom
me to Arizona
income on the
e
Y
You deferred
exploration e
expenses deter
rmined under
I
IRC § 617 in
a taxable yea
ar ending befo
re January 1,
retu
urn filed for th
he year in wh
hich you reacq
quired the debt
t
1
1990, and you
u have not pre
eviously taken
a subtraction
inst
trument.
f
for those expen
nses.
Sinc
ce Arizona tax
xed the federal
lly deferred D
OI income for
r
6 -
200
09 or 2010 on y
your 2009 or 2
010 Arizona re
eturn, you may
y
Line
e 3
sub
tract the amou
unt of OID tha
at accrued duri
ing the taxable
e
Subtr
ract lines 22
through 35
from line 17
.
Enter the
yea
r with respect
to that DOI in
ncome. On lin
ne 35, enter the
e
differ
rence.
amo
ount of any OI
ID that was de
eferred and not
t allowed to be
e
Line
e 37 –
dedu
ducted in compu
uting your fede
eral adjusted gr
ross income for
r
Enter
r the amount fr
rom page 1, lin
ne 36.
201
4 under IRC §
108(i).
Exe
emptions
O.
Sole Propriet
torship Incom
me of an Arizo
ona Nonprofit
t
Me
dical Mariju
uana Dispens
sary included
d in Federal
l
Line
e 38 - Age 65 o
or Over
Adj
justed Gross I
Income
Mult
tiply the numb
ber on line 8
(box) on the
front of your
If y
you are register
red as an Ariz
zona sole propr
rietorship with
h
return
rn by $2,100 an
nd enter the res
sult.
the
Arizona Depa
rtment of Heal
lth Services to
operate in this
s
Line
e 39 - Blind
stat
te as a nonprof
fit medical ma
arijuana dispen
nsary, you may
y
Mult
tiply the numb
ber on line 9
(box) on the
front of your
sub
tract the amou
unt of the inco
ome from the d
dispensary that
t
return
rn by $1,500 an
nd enter the res
sult.
is in
ncluded in the
computation o
of your federal
adjusted gross
s
Line
e 40 - Depende
ents
inco
ome. Include t
the amount of t
the income on
line 35.
Mult
tiply the numb
ber on line 10
(box) on the
front of your
NO
OTE:
If the
e Arizona no
onprofit medic
cal marijuana
a
return
rn by $2,300 an
nd enter the res
sult.
disp
pensary is reg
gistered with
the Arizona D
Department of
f
Hea
alth
Services
s
as
anythi
ing
other
t
than
a
sole
e
Line
e 41 - Qualifyin
ng Parents an
nd Grandpare
nts
prop
prietorship, th
is subtraction
does not apply
y.
Mult
tiply the numb
ber on line 11
(box) on the
front of your
return
rn by $10,000 a
and enter the re
esult.
P. L
Long-Term C
Care Insurance
e Premiums
Line
e 42 - Arizona
Adjusted Gro
oss Income
You
u may subtrac
ct the amount
of premium c
costs for long-
-
term
m care insuran
nce for qualifi
ied long-term
care services
.
Subtr
ract lines 38 th
hrough 41 from
m line 37.
Qua
alified long-ter
rm care servic
ces are necessa
ary diagnostic,
,
Figu
uring Your
r Tax
prev
ventive,
ther
rapeutic,
cur
ring,
treating
g,
mitigating,
,
reha
abilitative serv
vices, and mai
intenance and
personal care
e
Line
e 43 - Itemized
d or Standard
Deductions
serv
vices
You
must decide w
whether to take
e the standard
deduction or
You
u may take thi
is subtraction o
only if you are
e not claiming
g
to ite
emize your ded
ductions. Your
Arizona incom
me tax will be
item
mized deductio
ons for the ta
axable year.
Include the
e
less i
if you take the
larger of your
r standard dedu
uction or your
allo
owable subtract
tion on line 35
.
itemi
ized deduction
ns.
An
individual, w
who claims ite
emized deducti
ions, may not
t
When
n you e-file, t
the software c
completes the
take
e this subtractio
on.
math
for you.
Q. L
Long-Term H
Health Care Sa
avings Accoun
nts
You
u may subtract
t amounts you
paid into a lon
ng-term health
h
You
ur Standard D
Deduction
care
e savings acco
ount establishe
ed under Ariz
zona law. An
n
If you
u take the stan
ndard deduction
n, check box
S.
43
3
indi
ividual may e
establish a lon
ng-term health
h care savings
s
acco
ount with an a
account Admin
nistrator who w
will manage the
e
If y
your filing stat
tus is:
Y
Your standard d
deduction is:
acco
ount. For mor
re information
regarding the
subtraction for
r
con
ntributions ma
ade to a long
g-term health
care savings
s
Single
$5,00
09
acco
ount, see A.R.S
S. § 43-1032.
Married filing
separate
$5,00
09
The
e total amount
you may subtr
ract is equal to
the amount of
f
Married filing
g joint
$10,0
10
you
ur contributions
s that are inclu
uded in your fe
ederal adjusted
d
Head of house
ehold
$10,0
10
gros
ss income.
Include the
amount of
the allowable
e
sub
traction on line
e 35.
You
ur Itemized D
Deductions
Do
not include on
n line 35 any a
amounts alread
dy excluded in
n
the
computation o
of your federal
adjusted gross
s income.
You
may claim ite
emized deducti
ions on your A
Arizona return
even
if you take a s
standard deduc
ction on your f
federal return.
R. O
Other Adjustm
ments
For t
the most part, y
you may claim
m those deductio
ons allowable
Oth
her special adju
ustments may b
be necessary. C
Call one of the
e
as ite
emized deduct
tions under th
he IRC. In som
me cases, the
num
mbers listed on
n the back co
over if any of
the following
g
amou
unt allowed for
r some deducti
ions may not b
be the same as
app
ply.
the am
amount allowab
ble for federal p
purposes.
You sold or
disposed of pr
roperty that wa
as held for the
e
production o
of income and
d your basis w
was computed
d
under the Ari
izona Income T
Tax Act of 195
54, as amended
d
(1978 prior) e
except deprecia
able property.
1
4
1
4
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial