Arizona Form 140py - Part-Year Resident Personal Income Tax Art-Year Resident Personal Income Tax - 2011 Page 15
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45Form 140PY
x
You are a previously certified defense contractor that
related expenses incurred to purchase or carry the obligations. If
elected to amortize under Arizona Revised Statutes section
such expenses are included in your Arizona gross income, you
43-1024.
must reduce the subtraction by such expenses. If you are
itemizing deductions on your Arizona return, you must exclude
x
You sold or disposed of property that was held for the
such expenses from the amount deducted.
production of income and your basis was computed
under the Arizona Income Tax Act of 1954.
NOTE: Do not subtract interest earned on FNMA or GNMA
x
You claimed the environmental technology facility credit.
bonds since this interest is taxable by Arizona. For details, see
the department's income tax ruling, ITR 06-1.
x
You claimed the pollution control credit.
Do not subtract any amount received from a qualified pension
x
You claimed the recycling equipment credit.
plan that invests in U.S. Government obligations. Do not
x
You
claimed
the
agricultural
pollution
control
subtract any amount received from an IRA that invests in U.S.
equipment credit.
Government obligations. These amounts are not interest
x
You elected to amortize the basis of a pollution control
income. For more information, see Arizona Department of
device or the cost of a child care facility under Arizona
Revenue Income Tax Rulings ITR 96-2 and ITR 96-3.
law in effect before 1990.
You are still deducting
Line D32 - Arizona Lottery Winnings
amortization or depreciation for that device or facility
You may subtract up to $5,000 of winnings received in 2011
on your federal income tax return.
for Arizona lottery prizes. Only subtract those Arizona lottery
Line C24 - Total Additions
winnings that you included on line B15 in the ARIZONA
Add lines C21 through C23. Enter the total on line C24 and
column and reported on your federal income tax return.
on the front of your return on line 16.
If you subtract Arizona lottery winnings here, you may have
to adjust the amount of gambling losses claimed as an
Determining Subtractions from Income
itemized deduction.
You may only subtract those items for which statutory
Line D33 - U.S. Social Security Benefits or
authority exists. Without such authority you cannot take a
Railroad Retirement Benefits
subtraction. If you have any questions concerning
subtractions from income, call one of the numbers listed on
Arizona does not tax social security benefits received under Title
the back cover.
II of the Social Security Act. Arizona does not tax railroad
retirement benefits received from the Railroad Retirement Board
NOTE: You may not subtract any amount which is allocable
under the Railroad Retirement Act. If you included such social
to income excluded from your Arizona taxable income.
security or railroad retirement benefits on your federal return as
income and also included this amount in the ARIZONA column
Line D25 - Exemption: Age 65 or Over
on line B15, subtract this income on line D33.
Multiply the number in box 8 on the front of your return by
$2,100 and enter the result.
Subtract only the amount you reported as income on your federal
return and included on line B15 in the ARIZONA column.
Line D26 - Exemption: Blind
See Arizona Department of Revenue Income Tax Ruling ITR
Multiply the number in box 9 on the front of your return by
96-1 for more information about railroad retirement benefits.
$1,500 and enter the result.
Line D34 - Adjustment for I.R.C. § 179
Line D27 - Exemption: Dependents
Expense not Allowed
Multiply the number in box 10 on the front of your return by
Enter 20% of the amount entered on line C21 for excess I.R.C.
$2,300 and enter the result.
§ 179 expense. This same amount can be subtracted in each
of the following four taxable years also, effectively amortizing
Line D28
Exemption: Qualifying Parents
-
the difference in treatment over five years. If you made an
and Grandparents
addition for I.R.C. § 179 expense on your 2007, 2008, 2009
Multiply the number in box 11 on the front of your return by
and/or 2010 return, also enter 20% of the amount added for
$10,000 and enter the result.
2007, 2008, 2009 and/or 2010.
Line D29 - Total
Line D35 - Other Subtractions
Add lines D25 through D28 and enter the total.
Use line D35 if any of the following special circumstances
Line D30 - Prorated Exemptions
apply. Attach your own schedule to the back of your return,
explaining any amounts entered here.
Multiply the amount on line D29 by the Arizona percentage
from line B20 and enter the result.
A. Exclusion for U.S. Government, Arizona State,
or Local Government Pensions
Active Duty Military Personnel Only: If you were an active
If you receive pension income from any of the sources listed
duty military member who either began or gave up Arizona
below, subtract the amount you received or $2,500,
residency during 2011, do not prorate these exemptions. You
whichever is less. Include only the amount you reported as
are allowed 100 percent deductions for the age 65, the blind,
income on your federal return and included on line B15 in
the dependent and qualifying parent and grandparent
the ARIZONA column. If both you and your spouse receive
exemptions. Enter the amount on line D29 (Total) on this line.
such pension income, each spouse may subtract the amount
Line D31 - Interest on U.S. Obligations
received or $2,500, whichever is less.
Enter the amount of interest income from U.S. Government
Public pensions from the following sources qualify
obligations included on line B8 in the ARIZONA column. U.S.
for this subtraction:
Government obligations include obligations such as U.S. savings
x
The United States Government Service Retirement and
bonds and treasury bills. You cannot deduct any interest or other
Disability Fund
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