Arizona Form 140py - Part-Year Resident Personal Income Tax Return - 2013 Page 14
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29Arizona Form 140PY
6. The amount of the loss carryover allowed to be taken
P. Recalculated Arizona Depreciation
into account for Arizona purposes is more than the
Figure the total amount of depreciation allowable pursuant
amount included in your Arizona gross income.
to IRC § 167(a) for the taxable year calculated as if you had
Enter the amount by which the loss carryover allowed for
elected not to claim bonus depreciation for eligible
the taxable year under Arizona law is more than the amount
properties for federal purposes. Enter the amount that is
included in your Arizona gross income.
attributable to income taxable by Arizona.
L. Certain Expenses Not Allowed for Federal Purposes
Q. Basis Adjustment for Property Sold or Otherwise
You may subtract some expenses that you cannot deduct on
Disposed of During the Taxable Year
your federal return when you claim certain federal tax
With respect to property that is sold or otherwise disposed of
credits. These federal tax credits include the following.
during the taxable year by a taxpayer who has complied with
the federal work opportunity credit
the requirement to add back all depreciation attributable to
the empowerment zone employment credit
income taxable by Arizona with respect to that property on
the credit for employer-paid social security taxes on
tax returns for all taxable years beginning from and after
employee cash tips
December 31, 1999, enter the amount of depreciation that
the Indian employment credit
has been allowed pursuant to IRC § 167(a) attributable to
If you received any of the above federal tax credits for 2013,
income taxable by Arizona to the extent that the amount has
enter the portion of wages or salaries attributable to income
not already reduced Arizona taxable income in the current or
subject to Arizona tax that you paid or incurred during the
prior years. (Note: The practical effect of this is to allow a
taxable year that is equal to the amount of those federal tax
subtraction for the difference in basis for any asset for which
credits you received.
bonus depreciation has been claimed on the federal return.)
M. Qualified State Tuition Program Distributions
A part-year resident may subtract only that amount that is
If you are a beneficiary of a qualified state tuition program,
attributable to income subject to Arizona tax.
you may subtract some of the amount distributed from the
R. Fiduciary Adjustment
program for qualified education expenses. Enter the
amount of the distribution included in your federal adjusted
If the amount reported on line 3 of your Arizona Form
gross income that you included as income in the
141AZ, Schedule K-1, is a negative number, enter that
ARIZONA column. A qualified state tuition program is a
portion of Form 141AZ, Schedule K-1, line 3 that is
program that meets the requirements of IRC § 529.
allocable to estate or trust income taxable by Arizona as a
N. Subtraction for World War II Victims
subtraction from income. Enter the subtraction on line D35.
You may subtract distributions made to you for your
S. Contributions to 529 College Savings Plans
persecution or the persecution of your ancestors by Nazi
You may subtract amounts you contribute to 529 college
Germany or any other Axis regime for racial, religious or
savings plans during the taxable year. You may subtract the
political reasons. If you are the first recipient of such
amount you contributed during the year, while an Arizona
distributions, enter the amount of the distributions that you
resident, up to a total of $2,000 ($4,000 for a married couple
had to include in your federal adjusted gross income that you
filing a joint return). If you are married filing separate
also entered in the ARIZONA column on your Form 140PY.
returns, either you or your spouse may take the subtraction,
You may also subtract items of income that are attributable
or you may divide it between you, but the total taken by both
to, derived from or related to assets that were stolen or
of you cannot be more than $4,000.
hidden from or lost to you if you were persecuted by Nazi
If you contribute more than $2,000 ($4,000 if married)
Germany or any other Axis regime for racial, religious or
during the year, your total subtraction is still limited to
political reasons before, during or immediately after World
$2,000 ($4,000 if married). For example, Jorge and Kate are
War II. If you are the first recipient of such income, enter the
married and have two children. During 2013, Jorge and
amount of income that you had to include in your federal
Kate contributed $2,500 to a 529 plan for Child 1 and $2,500
adjusted gross income that you also entered in the
to a 529 plan for Child 2. Even though Jorge and Kate
ARIZONA column on your Form 140PY.
contributed a total of $5,000 during 2013, they may subtract
O. Installment Sale Income From Another State
only $4,000 on their 2013 return.
Taxed by the Other State in a Prior Taxable Year
You may take a subtraction for a contribution that you made
You may subtract income from an installment sale if both of
during 2013, to a plan that existed before 2013. You may
the following apply:
take a subtraction for a contribution that you made during
2013, to a plan established in another state. You may take a
1.
The income from the sale is subject to Arizona income tax
subtraction for a contribution that you made in 2013, to any
in 2013; and
529 college savings plan. This could be a plan established
2.
You paid income tax to another state on that income in a
for a child, grandchild, niece, nephew, or any other person
prior tax year.
for whom a plan has been established.
Enter the amount of such income that you included in your
Arizona gross income for 2013.
You cannot take a subtraction for an amount transferred
from one college savings plan to a different college savings
Do not enter any amount that is subject to tax by both Arizona
plan (a rollover).
and another state in 2013. In this case, you may be eligible for
a tax credit. See AZ Form 309 for details.
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