Form 5074 - Allocation Of Individual Income Tax To Guam Or The Commonwealth Of The Northern Mariana Islands (Cnmi) - 2015 Page 2
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Form 5074 (2015)
Page
Do not use this form if you were a bona fide resident of
• Taxable refunds, credits, or offsets of local Guam or CNMI income
▲
!
Guam or the CNMI during the entire tax year, or were
taxes only include nonmirror code income taxes.
considered a bona fide resident of Guam or the CNMI for
• Alimony received from a person who is a bona fide resident of Guam
the entire tax year under the special rules for the year
or the CNMI is sourced in that specific territory.
CAUTION
of a move (see chapter 1 of Pub. 570, Tax Guide for Individuals With
• Except as provided in regulations, income earned after December 31,
Income From U.S. Possessions).
2004, that is from sources within the United States or effectively
Joint returns. If you file jointly and only one spouse is a bona fide
connected with the conduct of a trade or business in the United States
resident of Guam or the CNMI for the entire tax year, the resident status
is not income from Guam or the CNMI.
for both spouses and subsequent tax treatment is determined by the
• The source of gains, profits, or income from the sale or disposition of
spouse with the higher AGI (disregarding community property laws). File
real property (and any interest in real property) is generally where the
Form 5074 only if the spouse with the higher AGI is not a bona fide
real property is located.
resident of Guam or the CNMI for the entire tax year.
Personal property. The source of income from the sale of
Where to file. If you are not enclosing a check or money order, file your
nondepreciable personal property is generally the seller's residence. For
Form 1040 (including Form 5074) with the Department of the Treasury,
example, if you are a bona fide resident of Guam or the CNMI, gain from
Internal Revenue Service Center, Austin, TX 73301-0215 USA.
the sale or disposition of personal property is generally from sources
If you are including a check or money order, file your return with the
within Guam or the CNMI. Income from the sale of inventory is generally
Internal Revenue Service, P.O. Box 1303, Charlotte, NC 28201-1303 USA.
sourced where the title to the property passes. See section 865 for
details.
Additional information. Pub. 570 has more information and an example
of how to complete Form 5074. To get Pub. 570, see How To Get Tax
Special rules may apply to bona fide residents of U.S.
▲
!
Help in the Instructions for Form 1040.
territories who have gain from dispositions of certain
investment property within the 10-year period beginning
Part I—Income From Guam or the CNMI Reported on
when they became a bona fide resident. For details, see
CAUTION
Form 1040
Special Rules for Gains From Dispositions of Certain Property, in
Source of income. The rules for determining the source of income are
chapter 2 of Pub. 570, Regulations section 1.937-2(f)(1), and Examples 1
explained in sections 861 through 865 and section 937, Regulations
and 2 of section 1.937-2(k).
section 1.937-2, and chapter 2 of Pub. 570. Some general rules are:
Part II—Adjusted Gross Income From Guam or the
• The source of wages, salaries, or tips is generally where the services
CNMI Reported on Form 1040
are performed. If you worked both in and outside Guam or the CNMI,
include on line 1 only wages, salaries, or tips earned while you were in
Lines 21 through 23. If you had Guam or CNMI source self-
Guam or the CNMI. However, certain income earned while temporarily
employment income, figure the amount to enter on each line by (1)
performing services in Guam or the CNMI will not be considered income
dividing your Guam or CNMI source self-employment income by your
from Guam or the CNMI.
total (worldwide) self-employment income and (2) multiplying the total
De minimis exception. This is an exception to the general rule for
amount of each deduction that applies to you by the result in (1).
determining the source of income earned in Guam or the CNMI.
Line 24. Enter the amount of penalty on early withdrawals from savings
Generally, income from Guam or the CNMI does not include
accounts in banks or branches of U.S. banks located in Guam or the
compensation for services performed in Guam or the CNMI if during
CNMI. The Form 1099-INT or Form 1099-OID you received will show the
2015 you:
amount of any penalty you were charged.
• Were a U.S. citizen or resident;
Line 25. Enter the total of your and your spouse’s IRA deductions
• Were not a bona fide resident of Guam or the CNMI;
attributable to Guam or CNMI compensation or earned income. Figure
the amount to report on line 25 by (1) dividing your Guam or CNMI
• Were not employed by or under contract with an individual,
partnership, or corporation that is engaged in a trade or business in
compensation or earned income by your total (worldwide) compensation
or earned income and (2) multiplying the amount of your IRA deduction
Guam or the CNMI;
by the result in (1). Figure the amount of your spouse’s IRA deduction
• Temporarily performed services in Guam or the CNMI for 90 days or
the same way.
less; and
Line 28. Include in the total on line 28 the amount of any other
• Earned $3,000 or less from such services.
deductions included on Form 1040, line 36, that are attributable to your
Military spouses. If you are the civilian spouse of a member of the
Guam or CNMI income. On the dotted line next to line 28, enter the
U.S. Armed Forces, work in Guam or the CNMI, and retain a residence
amount of each deduction attributable to your Guam or CNMI income
or domicile in one of the 50 states or the District of Columbia under the
and identify it as you did on Form 1040, line 36. If you or your spouse
Military Spouses Residency Relief Act (MSRRA), your wages, salaries,
had an Archer Medical Savings Account deduction on Form 1040, line
tips, and self-employment income will not be considered income from
36, figure the amount to report on line 28 the same way you would an
Guam or the CNMI. Under MSRRA, the military spouse must be in
IRA deduction (see Line 25 above).
Guam or the CNMI solely to be with his/her servicemember spouse who
is serving in compliance with military orders. For details on MSRRA, see
Penalty for Failure To Furnish Information
Pub. 570.
If you became or ceased to be a bona fide resident of a U.S. territory,
• The source of interest income is generally where the payer is located.
you may be required to file Form 8898, Statement for Individuals Who
For example, Guam or CNMI source income includes interest from a
Begin or End Bona Fide Residence in a U.S. Possession. If you fail to
certificate of deposit issued by a bank or branch of a U.S. bank in Guam
provide the required information, you may have to pay a $1,000 penalty
or the CNMI.
for each failure unless you can show the failure was due to reasonable
• Generally, dividends are sourced where the paying corporation is
cause and not willful neglect. This penalty is in addition to any criminal
created or organized.
penalty provided by law. For details, see the Instructions for Form 8898.
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