Arkansas Individual Income Tax Forms And Instructions

Arkansas Individual Income Tax Forms And Instructions - 2013 Page 22

SELF-EMPLOYED HEALTH INSURANCE DEDUCTION WORKSHEET

Enter the amount you paid in 2013 for health insurance for you, your spouse, and your dependents. ............. 1 ______________

Enter your net profit and any other earned income* from the business under which the

insurance plan was established, less any deductions on Form AR1000ADJ, Line 10. .............................. 2 ______________

Enter the smaller of Line 1 or Line 2 here and on Form AR1000ADJ, Line 9.

(Do not include this amount in figuring your medical expense deduction on the Itemized Deduction Schedule.) ... 3 ______________

* Earned income includes net earnings and gains from the sale, transfer, or licensing of property you created. It does not include

capital gain income. If you were more than a 2% shareholder in an S corporation, earned income is your wages from that

corporation.

MILEAGE AND DEPLETION ALLOWANCES

Mileage Allowance

Business..................................... 56.5 cents/mile

Charitable ...................................... 14 cents/mile

Medical/Moving ............................. 24 cents/mile

Mail Carrier (rural) ...... Reimbursement received

Depletion Allowance

Depletion (gas and oil) ....................................... Same as federal

(15% for most gas and oil production)

DEPRECIATION INFORMATION

Section 179 Facts

Arkansas adopted IRC §179 as in effect on January 1, 2009, allowing greater dollar limits

and phase out thresholds.



Deduction Limit

$25,000



Cost of qualifying property limit

$200,000



No deduction allowed above $225,000



More than one property placed in service

limit $25,000 deduction per

taxpayer per year



Any cost not deducted in one year may be carried forward to next year



Deduction may not be used to reduce taxable income below zero

Note: Arkansas has not yet adopted the most recent federal changes.

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Arkansas Individual Income Tax Forms And Instructions - 2013 Page 22