Arizona Booklet 140ptc - Property Tax Refund Credit

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 March. To figure how much property tax John paid

except those listed above

in 2013, John must look at taxes paid for both 2012

All retirement payments from the State of Arizona

and 2013.

All retirement payments from any local government

John's 2012 property taxes were

$600

(including police and school districts)

John paid 1/2 of his 2012 property

Any IRA distributions

taxes on October 1, 2012

$300

Line F -

John paid the other 1/2 of his 2012

property taxes on March 1, 2013

$300

Enter all rent and royalty income received by each member

of the household in 2013.

John's 2013 property taxes were

$700

John paid 1/2 of the 2013 taxes on

Line G -

October 1, 2013

$350

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

John paid the other 1/2 of his 2013

received by each member of the household in 2013.

property taxes on March 1, 2014

$350

Line H -

During 2013, John paid property taxes for both 2012

and 2013. John paid 2012 taxes of $300 on March 1,

Enter all alimony received by each member of the household

2013. John also paid 2013 taxes of $350 on October 1,

in 2013.

2013. John would enter $650 on line 12. This is the

Line I -

amount John actually paid in 2013.

Enter any other income that each member of the household

Line 13 - Complete if You Rented During 2013

received in 2013. Attach a schedule listing the source of the

income for all amounts listed. Some examples of income

If you rented during 2013, enter the amount from Form 201,

you should enter here are:

Part III, Line 15.

Strike benefits exempt from tax; and

Line 14 -

Unemployment insurance payments from states other

Add lines 12 and 13.

than Arizona.

Line 15 - Property Tax Credit

Line J -

Enter the smaller of line 11 or line 14.

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

Line 16

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

Complete line 16 if someone else claimed you as a

Now return to the front of the form.

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

Line 11a -

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

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

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

"Schedule I.” Look at Schedule I under Part I on the back of

6 on Page 2, Part II.

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

entered on line 10.

Line 17 -

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

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

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

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

Line 11b -

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

zero “0” here.

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

Page 2, Part II, Credit for Increased Excise Taxes

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

Schedule II under Part I 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 II, 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.

If someone else in your household has claimed less than

Line 12 - Complete if You Own Your Home

$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 2013.

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

NOTE: If you were sentenced for at least 60 days of 2013

those amounts actually paid in 2013.

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 2013. In this

case, do not complete Part II.

Arizona Booklet 140ptc - Property Tax Refund Credit - 2013 Page 6

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