Indiana Earned Income Credit - 2013 Page 9
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17Publication EIC: Indiana Earned Income Credit
Chapter 2. Worksheet 1: Investment Income If You Are Filing Federal Form 1040
Use this worksheet to figure investment income if you were went here from Step 2 of the EIC instructions found in the IT-40/IT-40PNR
instruction booklets.
Interest and Dividends
1. Enter any amount from Form 1040, line 8a.
1. _________
2. Enter any amount from Form 1040, line 8b, plus any amount on Form 8814, line 1b.
2. _________
3. Enter any amount from Form 1040, line 9a.
3. _________
4. Enter the amount from Form 1040, line 21, that is from Form 8814 if you are filing that form to report your
child’s interest and dividend income on your return. (If your child received an Alaska Permanent Fund
dividend, use Worksheet 2, on the next page, to figure the amount to enter on this line.)
4. _________
Capital Gain Net Income
5. Enter the amount from Form 1040, line 13. If the amount on that line is a loss,
enter 0.
5. _________
6. Enter any gain from Form 4797, Sales of Business Property, line 7. If the amount
on that line is a loss, enter 0. (But, if you completed lines 8 and 9 of Form 4797,
enter the amount from line 9 instead.)
6. _________
7. Subtract line 6 of this worksheet from line 5 of this worksheet. (If the result is less than zero, enter 0.)
7. _________
Royalties and Rental Income from Personal Property
8. Enter any royalty income included on federal Schedule E, line 4, plus any income
from the rental of personal property shown on Form 1040, line 21.
8. _________
9. Enter any expenses from Schedule E, line 20, related to royalty income, plus any
expenses from the rental of personal property deducted on Form 1040, line 36.
9. _________
10. Subtract the amount on line 9 of this worksheet from the amount on line 8.
(If the result is less than zero, enter 0.)
10. ________
Passive Activities
11. Enter the total of all net income or losses from qualified joint ventures that are
passive activities with rental real estate income reported on your (and your spouse’s)
Schedule C, line 31, or Schedule C-EZ, line 3, but not included in net earnings from
self-employment. Do not include this amount on line 12 or 13 below.
11. ________
12. Enter the total of any net income from passive activities (such as income included
on Schedule E, line 26, 29a (col. (g)), 34a (col. (d)), or 40). (See instructions below
for lines 12 and 13.) Do not include any amount you included on line 11 above.
12. ________
13. Enter the total of any losses from passive activities (such as losses included on
Schedule E, line 26, 29b (col. (f)), 34b (col. (c)), or 40). (See instructions below for
lines 12 and 13.) Do not include any amount you included on line 11 above.
13. ________
14. Combine the amounts on lines 11, 12, and 13 of this worksheet. (If the result is less
than zero, enter 0.)
14. ________
15. Add the amounts on lines 1, 2, 3, 4, 7, 10, and 14. Enter the total. This is your Investment Income.
15. ________
16. Is the amount on line 15 more than $3,300?
Yes. STOP. You cannot take the credit.
No. Go to the Form IT-40 or IT-40PNR instruction booklet ( ). Find the instructions for line 5 of Schedule
5: Credits (IT-40PNR Schedule F); go to Step 3 to find out if you can take the credit.
Instructions for lines 12 and 13. In figuring the amount to enter on lines 12 and 13, do not take into account any royalty income (or
loss) included on line 26 of Schedule E or any amount included in your earned income.
Page 8
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial