Form 1040me - Maine Individual Income Tax Booklet - 2015 Page 14

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Name(s) as shown on Form 1040ME

Your Social Security Number

Attachment

2015 - Worksheet for Pension Income Deduction - Schedule 1, Line 2d

Sequence No.

Enclose this Worksheet and copies of your 1099 form(s) with your Form 1040ME.

applicable, may not be included in the deductible pension amount.

You and your spouse (if married) may each deduct up to $10,000

of eligible pension income* that is included in your federal adjusted

Note that a conversion of beneﬁ ts from one account to another

gross income. Except for military retirement pay, the $10,000 cap

does not qualify for the pension income deduction. For example, a

must be reduced by any social security and railroad retirement

deduction may not be taken when a taxpayer converts a traditional

beneﬁ ts received, whether taxable or not.

IRA to a Roth IRA. The taxpayer, in this case, does not receive a

retirement or IRA beneﬁ t at the time of conversion.

Deductible pension income includes military retirement pay, state

and federal pension beneﬁ ts, and retirement beneﬁ ts received from

Pension beneﬁ ts that do not qualify are those received from an

plans established and maintained by an employer for the beneﬁ t of

ineligible deferred compensation plan under IRC section 457(f),

its employees under Internal Revenue Code (IRC) sections 401(a)

refunds of excess contributions, lump-sum distributions included on

(qualiﬁ ed pension plans, including qualiﬁ ed 401 SIMPLE plans),

federal Form 4972 and distributions subject to the additional 10%

401(k) (qualiﬁ ed cash or deferred arrangements) and 403 (employee

federal tax on early distributions (see federal Form 5329, Part 1,

annuities). Deductible pension income also includes beneﬁ ts received

or federal Form 1040, line 59). Also, disability beneﬁ ts reported as

from an individual retirement account under IRC section 408, Roth

wages on your federal income tax return do not qualify.

IRA accounts under IRC section 408A, SIMPLE individual retirement

*Eligible pension income does not include beneﬁ ts earned by

accounts under IRC section 408(k), simpliﬁ ed employee pension

another person, except in the case of a surviving spouse. Only

plans under IRC section 408(p), beneﬁ ts received under IRC section

the individual who earned the beneﬁ t from prior employment

457(b) (state and local government/tax exempt organizations/eligible

may claim the pension income for the deduction. However, a

except that pick-up contributions

deferred compensation plans),

widowed spouse receiving survivor’s beneﬁ ts under an eligible

received from the Maine Public Employees Retirement System

pension plan may claim that amount for purposes of this

(“MainePERS”) allowed to be deducted on Form 1040ME, Schedule

deduction, but the total pension deduction for the surviving

1, line 2g and pension income from 457(b) plans received prior to age

spouse may not exceed $10,000.

55 that is not part of a series of equal periodic payments made over

the life of the recipient and the recipient’s designated beneﬁ ciary, if

NOTE: Enter eligible non-military pension beneﬁ ts on line 1 and eligible military retirement pay on

Taxpayer

Spouse*

line 6.

1. Total eligible non-military pension income (both Maine and non-Maine sources) included in

your federal adjusted gross income (from federal Form 1040A, lines 11b and 12b or federal

Form 1040, lines 15b and 16b). CAUTION: Include only deductible pension beneﬁ ts that are

not speciﬁ cally excluded. See the instructions above.

2. Maximum allowable deduction.

$ 10,000.00

3. Total social security and railroad retirement beneﬁ ts you received - whether taxable or not.

4. Subtract line 3 from line 2 (if zero or less, enter zero).

5. Enter the smaller of line 1 or line 4 here

6. Total eligible military retirement pay included in your federal adjusted gross income

(from federal Form 1040A, line 12b or federal Form 1040, line 16b).

7. Add line 5 and line 6.

8. Enter the smaller of line 2 or line 7 here and the total for both spouses on Schedule 1, line 2d. 8.

*Use this column only if ﬁ ling married-joint return and only if spouse separately earned an eligible pension.

2015 WORKSHEET for Maine Schedule 1, line 2f

For individuals claiming a deduction for long-term care insurance premiums. Complete this worksheet only if you claim Maine itemized

deductions and federal Schedule A, line 4 is greater than zero or you are self-employed and federal Form 1040, line 29 is greater than zero.

1. Enter total amount of long-term care insurance premiums paid during 2015: ........ $

2. Enter amount from federal Schedule A, line 1 ................................................................................................. $_________________

3. Enter amount of long-term care premiums included in line 2 above .............................................................. $_________________

4. Divide line 3 by line 2.......................................................................................................................................

__ . __ __ __ __

5. Enter amount from federal Schedule A, line 4 $ ___________ and multiply by percentage on line 4 above $_________________

6. Enter amount of long-term care insurance premiums included on federal Form 1040, line 29 ....................... $_________________

7. Subtract line 5 and line 6 from line 1. Enter result here and on Schedule 1, line 2f .......................................$_________________