Instructions For Arizona Form 140ptc - Property Tax Refund (Credit) Claim - 2014 Page 3
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6Arizona Form 140PTC
Line 5 -
Household income is the total of each household member's
income. Enter your income in column (1). If your spouse
Check "Yes" if you were a resident of Arizona for the whole
lived with you, enter your spouse's income in column (2). If
year, (from January 1, 2014, to December 31, 2014.) To
you lived with another person, enter that person's income in
qualify for the property tax credit, you must have lived in
column (3). If you lived with more than one other person,
Arizona for the whole year.
fill out a separate schedule for each other person.
Line 6 -
In the proper column list all income, except as noted below.
Check "Yes" if one of the following applies.
Do not include income from the following.
1. You paid property taxes on your main home in Arizona
Social security benefits
during 2014.
Railroad Retirement benefits
2. You paid rent on your main home in Arizona for all of
Workers' Compensation "Loss of Time" insurance payments
2014.
Arizona unemployment insurance payments
3. You paid both rent and property taxes on your main
Veteran's disability pensions
home in Arizona for all of 2014.
Welfare payments, surplus food, or other relief provided
4. You were a resident of a nursing home in Arizona. That
by a governmental agency
nursing home was subject to and paid property taxes.
Gifts from non-governmental sources
You used your social security or other personal funds to
pay the nursing home.
Arizona Form 140PTC refunds received last year
5. You were a shareholder of a cooperative corporation in
To find out more about household income and adjusted gross
Arizona. The unit that you lived in was your main home
income for this credit, see the department's tax ruling ITR 12-1.
during 2014.
Line A -
6. You were a member of a condominium association in
Enter the salaries, wages, tips, commissions, or bonuses etc.,
Arizona. Your unit was your main home during 2014.
received by each member of the household in 2014.
Line 7 -
Line B -
Check "Yes" if this is the only PTC being claimed in your
household.
Enter all dividend and interest income. Enter all amounts
received by each member of the household in 2014. You
NOTE: Arizona law allows only one 140PTC claimant per
must include interest income that Arizona does not tax.
household per year. If someone else in your household has
Interest income that you must enter here includes the
already filed a 140PTC claim for 2014, do not file this
following.
claim. If you have already filed a claim for 2014, do not file
another Form 140PTC for 2014, unless you are amending
Interest
income
from
federal
obligations
(U.S.
your original claim for 2014.
government interest)
Interest income from Arizona municipalities
To qualify for the tax credit, your answers to questions 5
Line C -
through 7 must be "Yes."
Line 8 -
Enter all of the business and farm income. Enter all business
and farm income for each member of the household. If you
Check "Yes" if you were 65 or older on December 31, 2014.
had a business or farm loss, see the department’s Individual
(You must enter your date of birth under line 3, in Box 79.)
Income Tax Ruling, ITR 12-1, for more information.
Line 9 -
Line D -
Check "Yes" if you received Title 16 SSI payments in 2014.
For each member of the household combine gains and losses
NOTE: This is not the normal social security disability.
from the sale or exchange of property. If the result is a gain,
This is for people with limited incomes who are either blind,
enter the gain. If the result is a loss, enter only up to a
disabled, or over age 65.
maximum of ($1,500).
To qualify for the tax credit you must have answered "Yes"
When figuring household income, the maximum net loss of
to either question 8 or 9.
$1,500 is applicable to each household member who had
capital gains and losses during the year when the net result
Page 2, Part 1, Schedule of Household
for that person resulted in a loss.
Income
Line E -
Turn the form over and complete the "Schedule of
Enter the income that each member of the household
Household Income" under Part 1.
received from pensions and annuities in 2014. You should
You must list all income that you, your spouse, and any
not include income from the following:
other member of your household received or earned in 2014.
Social security benefits
Anyone who lives in the same dwelling unit as you is a
Railroad Retirement benefits
member of your household. Enter the total for each line in
Veteran's disability pensions
column (4).
You must figure the income for each household member.
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