Resident Personal Income Tax Booklet (Arizona Form 140) - 2013 Page 47
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56Arizona Form 140
x
Column (b) is the total amount of long-term capital
Instructions for completing the worksheet
gains or (losses) reported on Schedule D or other
for the subtraction from Arizona gross
forms/schedules.
income for net long-term capital gain from
x
Column (c) is the amount of the long-term capital gains
assets acquired after December 31, 2011.
or (losses), included in column (b) for assets acquired
before January 1, 2012.
Purpose of the Worksheet
x
Column (d) is the amount of the long-term capital gains
Beginning in 2013, you may subtract a percentage of any net
or (losses), included in column (b) for assets acquired
long-term capital gain included in your federal adjusted
after December 31, 2011.
gross income that is from an investment in an asset acquired
Lines 1 through 8 - Capital Gains or (Losses)
after December 31, 2011.
Reported on Federal Schedule D.
For purposes of this subtraction, “qualified” means an
Enter the long-term capital gain or (loss) from the federal
Arizona asset that was acquired after December 31, 2011.
form listed that was reported on your federal Schedule D and
To take the allowable subtraction, you must know whether
included in the computation of your federal adjusted gross
the capital gain or (loss) is considered short-term or long-
income.
term.
Only the net long-term capital gain from assets
Line 9 - Long-Term Capital Gains or (Losses)
acquired after December 31, 2011, is used to compute the
allowable subtraction.
For more information about
Enter the total capital gain distribution(s) reported on
determining whether a gain or (loss) is short term or long
Form(s) 1099-DIV and included in your computation of
term, see federal Publication 544 at
federal adjusted gross income.
Who Should Complete the Worksheet?
Note: Some taxpayers are not required to file Schedule D to
report certain capital gains or (losses). In these cases, the
You must complete this worksheet to take the allowable
long-term capital gains or (losses) are reported directly on
subtraction if you have a net capital gain included in your
the taxpayer’s income tax return. Enter those items on line
federal adjusted gross income and the gain includes assets
9 of the worksheet.
purchased after December 31, 2011.
Do not complete this worksheet if either of the following
Line 10 - Subtotal
applies.
For each column, combine the amounts listed on lines 1
x
You do not have any capital gains to report for the
through 9 and enter the total.
current tax year; or
Line 11 - Long-Term Capital Loss Carryover
x
You do not have any net capital gain from asset(s)
If you used a long-term capital loss carryover from previous
acquired after December 31, 2011, to report for the
tax years to reduce your long-term capital gains for the
current tax year.
current taxable year, enter the amount used to apply to gains
General Instructions
from assets acquired before January 1, 2012, in columns (b)
and (c).
1. Enter your name and social security number as shown
For tax year 2013, there should be no amount entered on line
on Form 140.
11, column (d).
2. Check the box if this worksheet is for an original or an
amended return.
Line 12 - Net Long-Term Capital Gain or (Loss)
3. Keep this worksheet for your records.
Subtract line 11 from line 10 and enter the difference in each
applicable column.
Line-by-Line instructions
x
If the amount on line 12, column (d) is a negative
Columns (a) through (d)
number, you have a net capital loss. You do not qualify
to take the subtraction.
x
Column (a), lines 1 through 8, lists the federal forms
x
reported on Schedule D. Line 9 identifies the total
If the amount on line 12, column (d) is a positive
number, you have a net capital gain. Enter the result on
capital gain distribution(s) reported on Form(s)
Form 140, page 2, line D33.
1099-DIV.
Also, enter the amount from line 12, column (b) on
Form 140, page 2, line D32.
28
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