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STATE OF CONNECTICUT

AN 2003(4)

DEPARTMENT OF REVENUE SERVICES

25 Sigourney Street

Hartford CT 06106-5032

ANNOUNCEMENT

Instructions Modified to Certain 2002 Connecticut Income Tax Forms

for Special 30% Depreciation Allowance for Qualified Property

Purpose: This Announcement alerts individuals,

I.R.C. 1400L(b)(1) in computing an individual’s federal

partnerships, and S corporations that claimed the special

adjusted gross income, such amounts are not required to

30% federal depreciation allowance for certain property

be added back to an individual’s federal adjusted gross

placed in service after September 10, 2001 on federal Form

income in computing his or her Connecticut adjusted gross

4562, Depreciation and Amortization (Including

income.

Information on Listed Property), that the instructions to

· 2002 Form CT-1040, Schedule 1 - Modifications to

certain 2002 Connecticut income tax forms are incomplete.

Federal Adjusted Gross Income, Line 32 - Special

Previously, the instructions related to the forms referenced

Depreciation Allowance for Qualified Property, are

herein provided that only the amount listed on Line 14 of

changed to read as follows: If you filed federal Form

federal Form 4562 was required to be added back to an

4562, Depreciation and Amortization (Including

individual’s federal adjusted gross income in computing

Information on Listed Property), and claimed a special

his or her Connecticut adjusted gross income. The amounts

30% depreciation allowance for certain property placed

entered on Line 14 and Line 25 on federal Form 4562 are

in service after September 10, 2001, enter on Line 32

required to be added back to an individual’s federal

the sum of the amounts you entered on federal Form

adjusted gross income in computing his or her Connecticut

4562, Line 14 and Line 25. See Special Notice

adjusted gross income as indicated below.

2002(12), 2002 Legislation Affecting the Connecticut

Income Tax.

Effective Date: Applicable to Forms CT-1040,

· 2002 Form CT-1040NR/PY, Schedule 1 -

CT-1040NR/PY, CT-1040X, CT-1120SI, and CT-1065

Modifications to Federal Adjusted Gross Income,

filed for the 2002 taxable year.

Line 34 – Special Depreciation Allowance for Qualified

Property, are changed to read as follows: If you filed

Statutory Authority:

federal Form 4562, Depreciation and Amortization

2002 Conn. Pub. Acts 1, §77 (May 9 Spec. Sess.).

(Including Information on Listed Property), and claimed

2002 Instructions Modified to Reflect Additional

a special 30% depreciation allowance for certain

Line on federal Form 4562: Connecticut law requires

property placed in service after September 10, 2001,

an individual, in computing his or her Connecticut adjusted

enter on Line 34 the sum of the amounts you entered

gross income, to add certain items, and to subtract certain

on federal Form 4562, Line 14 and Line 25. See

items, from his or her federal adjusted gross income. One

Special Notice 2002(12), 2002 Legislation Affecting

of the items required by Connecticut law to be added to an

the Connecticut Income Tax.

individual’s federal adjusted gross income, in computing

· 2002 Form CT-1040X, Schedule 1 - Modifications to

his or her Connecticut adjusted gross income, is the special

Federal Adjusted Gross Income, Line 33 – Special

30% federal depreciation allowance for certain property

Depreciation Allowance for Qualified Property, are

placed in service after September 10, 2001. The amounts

changed to read as follows: If you filed federal Form

entered on Line 14 and Line 25 on federal Form 4562 are

4562, Depreciation and Amortization (Including

required to be added, and the sum entered on the specified

Information on Listed Property), and claimed a special

line of certain Connecticut income tax forms as indicated

30% depreciation allowance for certain property placed

below. However, to the extent amounts entered on Line

in service after September 10, 2001, enter on Line 33

14 and Line 25 of federal Form 4562 are deductible under

the sum of the amounts you entered on federal

Page 1 of 2

Form An 2003(4) - Instructions Modified To Certain 2002 Connecticut Income Tax Forms For Special 30% Depreciation Allowance For Qualified Property

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