Resident Personal Income Tax Booklet (Arizona Form 140) - 2013 Page 15
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56Arizona Form 140
If you subtract Arizona lottery winnings here, you may have
Line C18 - Interest on U.S. Obligations
to adjust the amount of gambling losses claimed as an
Enter the amount of interest income from U.S. Government
itemized deduction. See instructions for Form 140; Schedule
obligations included as income on your federal return. U.S.
A, Itemized Deduction Adjustments.
Government obligations include obligations such as savings
bonds and treasury bills. You cannot deduct any interest or
Line C21 - U.S. Social Security Benefits or
other related expenses incurred to purchase or carry the
Railroad Retirement Benefits
obligations. If such expenses are included in your Arizona
Arizona does not tax social security benefits received under
gross income, you must reduce the subtraction by such
expenses. If you are itemizing deductions on your Arizona
Title II of the Social Security Act. Arizona does not tax
return, you must exclude such expenses from the amount
railroad retirement benefits received from the Railroad
deducted.
Retirement Board under the Railroad Retirement Act. If you
included such social security or railroad retirement benefits
NOTE: Do not subtract interest earned on FNMA or GNMA
as income on your federal return, use line C21 to subtract
bonds since this interest is taxable by Arizona. For details, see
the department's Income Tax Ruling, ITR 06-1.
this income.
Do not subtract any amount received from a qualified pension
NOTE: Enter only the taxable amount (the amount that was
plan that invests in U.S. Government obligations. Do not
subject to federal income tax). Do not include any amount
subtract any amount received from an IRA that invests in
that was not subject to federal income tax.
U.S. Government obligations. These amounts are not interest
See the department’s Income Tax Ruling, ITR 96-1, for
income. For details, see the department’s Income Tax
more information about railroad retirement benefits.
Rulings ITR 96-2 and ITR 96-3.
Line C22 - Recalculated Arizona Depreciation
Line C19 - Exclusion for U.S. Government,
Enter the total amount of depreciation allowable pursuant to
Arizona State or Local Government Pensions
IRC § 167(a) for the taxable year calculated as if you had
If you receive pension income from any of the sources listed
elected not to claim bonus depreciation for eligible
below, subtract the amount you received or $2,500, whichever
properties for federal purposes.
is less. Include only the amount you reported as income on
Line C23 - Certain Wages of American Indians
your federal return. If both you and your spouse receive such
Enrolled members of American Indian tribes may subtract wages
pension income, each spouse may subtract the amount
earned while living and working on their tribe's reservation.
received or $2,500, whichever is less.
The federal government must recognize these tribes.
Public pensions from the following sources
For more information, see the department’s Income Tax
qualify for this subtraction.
Ruling, ITR 96-4.
x
The United States Government Service Retirement and
Line C24 - Income Tax Refund From Other
Disability Fund
States
x
The United States Foreign Service Retirement and
You may subtract income tax refunds received from other
Disability System
x
states if both of the following apply.
Retired or retainer pay of the uniformed services of the
United States
1.
You reported the refund as income on your federal return.
x
Any other retirement system or plan established by
2. You did not deduct the taxes paid to the other state as an
federal law
itemized deduction on a prior year Arizona return.
NOTE: This applies only to those retirement plans
Line C25 - Deposits and Employer Contributions
authorized and enacted into the U.S. Code. This does not
into MSAs
apply to a retirement plan that is only regulated by federal
law (i.e., plans which must meet certain federal criteria to be
Deposits Made Into Your MSA
qualified plans).
If you have an MSA, you may be able to subtract deposits
x
The Arizona State Retirement System
made into that MSA. Make an entry here if all of the
x
The Arizona State Retirement Plan
following apply.
x
The Corrections Officer Retirement Plan
1. You have an MSA that qualifies as an MSA under
x
Arizona law, but not federal law.
The Public Safety Personnel Retirement System
x
The Elected Officials' Retirement Plan
2. Either you or your employer made deposits into that
x
MSA during the tax year.
A retirement plan established for employees of a
county, city, or town in Arizona
3. You had to include the deposits in income on your
x
federal income tax return.
An optional retirement program established by the Arizona
Board of Regents under Arizona Revised Statutes
Enter the amount of the MSA deposits that you had to
x
include in your federal adjusted gross income.
An optional retirement program established by an
Arizona community college district
Employer Contributions Made to Employee MSAs
NOTE: Public retirement pensions from states other than
If you are an employer, you may subtract the amount
Arizona do not qualify for this subtraction.
contributed to your employees' MSAs that are established
under Arizona law. You can subtract these contributions
Line C20 - Arizona Lottery Winnings
only to the extent not deductible for federal income tax
purposes. Enter these contributions here.
You may subtract up to $5,000 of winnings received in 2013
for Arizona lottery prizes.
11
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial