Resident Personal Income Tax Booklet (Arizona Form 140) - 2013 Page 19
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56Arizona Form 140
Line D31
- Total Net Short-Term Capital Gain or (Loss)
-
who will manage the account.
For more information
regarding the subtraction for contributions made to a long-
Enter the total amount of net short-term capital gain or (loss)
term health care savings account, see A.R.S. § 43-1032.
included in your federal adjusted gross income.
The total amount you may subtract is equal to the amount of
Line D32
- Total Net Long-Term Capital Gain or (Loss)
-
your contributions that are included in your federal adjusted
Enter the amount from the worksheet on page 27, line 12,
gross income.
Include the amount of the allowable
column (b).
subtraction on line C29.
Line D33
- Net Long-Term Capital Gain From
-
Do not include on line C29 any amounts already excluded in
Assets Acquired After December 31, 2011
the computation of your federal adjusted gross income.
Enter the amount from the worksheet, line 12, column (d).
T. Other Adjustments
Line D34
- Net Long-Term Capital Gain
-
Other special adjustments may be necessary. Call one of the
Subtraction From Income
numbers listed on the back cover if any of the following apply.
Multiply the amount on line D33 by 10% (.10) and enter the
x
You are a qualified defense contractor that elected to
result here and on page 1, line 16.
amortize under A.R.S. § 43-1024.
Totaling Your Income
x
You sold or disposed of property that was held for the
production of income and your basis was computed
Line 12 - Federal Adjusted Gross Income
under the Arizona Income Tax Act of 1954.
You must complete your federal return before you enter an
x
You were an Arizona resident before December 31, 1975,
amount on line 12. You must complete a 2013 federal return
and you are receiving IRA distributions from your IRA
to determine your federal adjusted gross income, even if you
account to which you made contributions before
are not filing a federal return.
December 31, 1975.
Arizona uses federal adjusted gross income as a starting
x
You were an Arizona resident before December 31, 1975,
point to determine Arizona taxable income. Your federal
and you are receiving distributions from your qualified
adjusted gross income is your Arizona gross income.
self-employment retirement plan to which you made
contributions before December 31, 1975.
NOTE: Be sure to use your federal adjusted gross income
x
You deferred exploration expenses determined under
and not your federal taxable income.
IRC § 617 in a taxable year ending before January 1,
If the amount on line 12 is more than $75,000 ($150,000 if
1990, and you have not previously taken a subtraction
filing a joint return), you may need to make estimated
for those expenses.
payments. See "Do You Need to Make Estimated Payments
Line C30 - Subtractions from Income
in 2014?" instructions on page 4.
Add lines C17 through C29. Enter the total here and on the
Line 13 - Additions to Income
front of your return on line 15.
Enter the amount from page 2, line B12.
Part D:
Net Long-Term Capital Gain
Subtraction from Income for Assets Acquired
Line 14 -
After December 31, 2011.
Add lines 12 and 13 and enter the total.
Note: If you reported a net capital gain or (loss) on your
Line 15 - Subtractions From Income
federal tax return, you must enter that amount on page 1,
Enter the amount from page 2, line C17 or line C30.
line 16, box 16A. See the instructions for line 16.
Line 16 - Net Capital Gain or (Loss) and Net
If you entered an amount in box 16A, you must complete
Long-Term Capital Gain Subtraction
lines D31 and D32. If you are taking a subtraction for any
net long-term capital gain from assets acquired after
-
Box 16A
Net Capital Gain or (loss)
December 31, 2011, you must also complete lines D33 and
x
If you reported a net capital gain or (loss) on your
D34. If you do not complete Part D, you cannot take the
federal tax return, enter that amount in box 16A.
subtraction.
x
If you entered an amount in box 16A, you must
Beginning in 2013, a subtraction is allowed for a percentage
complete page 2, Part D, lines D31 and D32.
of any net long-term capital gain included in your federal
-
Line 16
Subtraction for net long-term capital gain from
adjusted gross income that is derived from an investment in
assets acquired after December 31, 2011
an asset acquired after December 31, 2011. For 2013, the
You must complete page 2, Part D, to take this subtraction.
percentage is 10% (.10).
If you do not complete Part D, you cannot take the
Use the worksheet at the end of these instructions,
subtraction. Enter the amount from page 2, line D34.
Worksheet for Net Long-Term Capital Gain Subtraction for
Line 17 - Arizona Adjusted Gross Income
Assets Acquired after December 31, 2011, to determine the
allowable subtraction. Keep the worksheet for your records.
Subtract lines 15 and 16 from line 14 and enter the
difference. You may also complete the following worksheet
to figure your Arizona adjusted gross income.
15
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