Schedule A (Form 740) - Kentucky Itemized Deductions - 2014 Page 2
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1
2SCHEDULE A (Form 740) 2014
Page 2
*1400030013*
42A740-A
If the combined totals on Form 740, line 9, exceeds $181,150 ($90,575 if married filing separately on a combined
return or separate returns), skip Part I and complete Part II.
PART I—DIVIDING DEDUCTIONS BETWEEN SPOUSES
Use this schedule if married filing separately on a combined return.
1.
Total itemized deductions from page 1, line 29 .............................................................................................................................
2.
Percent of income (Form 740, line 9, Column A) to total income (Form 740, total of line 9, Columns A and B) ......................
%
3.
Percent of income (Form 740, line 9, Column B) to total income (Form 740, total of line 9, Columns A and B) ......................
%
4.
Percent on line 2 times total deductions entered on line 1 (enter here and on Form 740, line 10, Column A) ........................
5.
Percent on line 3 times total deductions entered on line 1 (enter here and on Form 740, line 10, Column B) ........................
PART II—ITEMIZED DEDUCTIONS LIMITATION SCHEDULE
Use this schedule if the adjusted gross income on Form 740, line 9, exceeds $181,150 ($90,575 if married filing separately on a
combined return or separate returns).
A.
B.
Spouse
Yourself (or Joint)
•
If married filing separately on a combined return, enter
in Column A the percent of income (Form 740, line 9,
Column A) to total income (Form 740, total of line 9,
Columns A and B); enter in Column B the percent of
income (Form 740, line 9, Column B) to total income
(Form 740, total of line 9, Columns A and B).
•
If single, married filing a joint return or married filing
%
%
separate returns, enter 100% in Column B.
1. Multiply the amount on Schedule A, line 29, by the
percent of income shown in Columns A and/or B .....
1.
1.
2. Add the amounts on Schedule A, lines 4, 14 and 21,
plus any gambling losses included on line 28 and
multiply by the percent of income shown in Columns
A and/or B ......................................................................
2.
2.
Note: Be sure your total gambling losses are
clearly identified on line 28.
3. Subtract the amount on line 2 from the amount on
line 1. If the result is zero or less, enter -0- .................
3.
3.
4. Multiply the amount on line 3 above by 80% (.80)..... 4.
4.
5. Enter the amount from Form 740, line 9 ..................... 5.
5.
6. Enter $181,150 ($90,575 if married filing separately
on a combined return or separate returns) ................ 6.
6.
7. Subtract the amount on line 6 from the amount on
line 5. If the result is zero or less, enter -0- ................. 7.
7.
8. Multiply the amount on line 7 above by 3% (.03)....... 8.
8.
9. Compare the amounts on lines 4 and 8 above. Enter
the smaller of the two amounts here ..........................
9.
9.
10. Total itemized deductions. Subtract the amount on
line 9 from the amount on line 1. Enter the result
here and on Form 740, line 10 .....................................
10.
10.
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