Instructions For Arizona Form 140ptc - Property Tax Refund (Credit) Claim

Arizona Form 140PTC

You must include income from all other pensions and

Example:

annuities. Pension income that you must enter here includes

John owns his own home. Every year, John pays his

the following.

property taxes in two payments. John makes the first



All retirement payments from the federal government,

payment in October. John makes the second payment in

except those listed above

March. To figure how much property tax John paid in



All retirement payments from the State of Arizona

2014, John must look at taxes paid for both 2013 and



All retirement payments from any local government

2014.

(including police and school districts)

John's 2013 property taxes were

$600



Any IRA distributions

John paid 1/2 of his 2013 property taxes on

October 1, 2013

$300

Line F -

John paid the other 1/2 of his 2013property taxes

Enter all rent and royalty income received by each member

on March 1, 2014

$300

of the household in 2014.

John's 2014 property taxes were

$700

Line G -

John paid 1/2 of the 2014 taxes on October 1, 2014

$350

Enter all S corporation, partnership, estate, and trust income

John paid the other 1/2 of his 2014 property

received by each member of the household in 2014.

taxes on March 1, 2015

$350

Line H -

During 2014, John paid property taxes for both 2013 and

2014. John paid 2013 taxes of $300 on March 1, 2014.

Enter all alimony received by each member of the household

John also paid 2014 taxes of $350 on October 1, 2014.

in 2014.

John would enter $650 on line 13. This is the amount John

Line I -

actually paid in 2014.

Enter any other income that each member of the household

Line 13 - Complete if You Rented During 2014

received in 2014. Include a schedule listing the source of the

If you rented during 2014, enter the amount from Arizona

income for all amounts listed. Some examples of income

Form 201, Part 3, line 15.

you should enter here are:

Line 14 -



Strike benefits exempt from tax; and



Add lines 12 and 13.

Unemployment insurance payments from states other

than Arizona.

Line 15 - Property Tax Credit

Line J -

Enter the smaller of line 11 or line 14.

Line 16

Enter the total of column 4, lines A through I, on line J,

column 4, and on the front page, line 10.

Complete line 16 if someone else claimed you as a

dependent on his or her tax return. Enter the name, address,

Now return to the front of the form.

and SSN of the person who claimed you as a dependent.

Line 11a -

NOTE: If you complete line 16, do not complete lines 1 through

If you lived alone, place an "X" in box marked 11a

6 on Page 2, Part 2

"Schedule 1.” Look at Schedule 1 under Part 1 on the back

of the form. Under “Household Income”, find the amount

Line 17 -

you entered on line 10.

If you are not claimed as a dependent on anyone else’s tax

Find the amount shown next to your “Household Income” in

return, turn the form over and complete Part 2. If you are

the “Tax Credit” column. Enter that amount on line 11.

claimed as a dependent on someone else’s tax return, enter

zero “0” here.

Line 11b -

Page 2, Part 2, Credit for Increased Excise

If you lived with your spouse or one or more other persons,

place an "X" in box marked 11b "Schedule 2.” Look at

Taxes

Schedule 2 under Part 1 on the back of the form. Under

Lines 1 through 6 -

“Household Income”, find the amount you entered on line 10.

NOTE: The credit on Part 2, line 6 cannot exceed $100 per

Find the amount shown next to your “Household Income” in

household. Do not claim this credit if someone else in your

the “Tax Credit” column. Enter that amount on line 11.

household has already claimed $100 of the credit.

Line 12 - Complete if You Own Your Home

If someone else in your household has claimed less than

$100, you may claim the credit, if eligible, as long as all

If you owned your home, enter the total amount of property

credit claims filed from your household do not exceed $100.

taxes that you actually paid in 2014.

If you pay your property taxes in two payments, use only

NOTE: If you were sentenced for at least 60 days of 2014

those amounts actually paid in 2014.

The following

to a county, state or federal prison, you are not eligible to

example will show you how to figure these amounts.

claim the credit for increased excise taxes for 2014. In this

case, do not complete Part 2.

Instructions For Arizona Form 140ptc - Property Tax Refund (Credit) Claim - 2014 Page 4

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