Form 1040me - Maine Individual Income Tax Booklet

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Line 2k. Other subtractions. Unless speciﬁ cally stated, do not enter

Line 1h. Other. Enter on this line:

the amount of loss, deductions and

non-Maine income on this line. Enter ONLY items speciﬁ cally listed below.

other expenses of a ﬁ nancial institution subject to Maine franchise tax that

List the source of each amount claimed in the space provided and

are included in your federal adjusted gross income due to an ownership

share in the ﬁ nancial institution that is a partnership, S corporation, or

attach supporting documentation when claiming an amount on this line.

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Enter on this line:

net operating losses carried forward from previous

entity disregarded as separate from its owner

amounts deducted as

tax years pursuant to § 5122(2)(H), § 5122(2)(P), § 5122(2)(CC) or,

a business or other expense for federal tax purposes that are included

for individual owners of certain electing S corporations, net operating

in the credit base for the high-technology investment tax credit and the

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losses carried forward pursuant to § 5200-A(2)(H) or § 5200-A(2)(L). For

forest management planning credit

the amount claimed as a deduction

more information on Maine’s treatment of NOL’s, go to

in determining federal adjusted gross income that is used to calculate the

Maine Fishery Infrastructure Investment Tax Credit under 36 M.R.S.A. §

revenue/forms

(select Income Tax Guidance Documents). Also enter on

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this line to the extent included in federal adjusted gross income

military

5216-D

qualiﬁ ed tuition and other education expenses claimed on the

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compensation received by a nonresident servicemember

to the extent

federal return in accordance with section 222 of the Internal Revenue

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not included in the pension deduction on line 2d, military annuity payments

Code

qualiﬁ ed payments and tax beneﬁ ts from states or municipalities

made to a survivor of a deceased member of the military as a result of

to ﬁ reﬁ ghters and emergency medical responders that are excluded from

service in the active or reserve components of the U.S. armed services

federal gross income pursuant to Code section 139B. List the source of

each amount claimed in the space provided. For more information, go

under a survivor beneﬁ t plan or reserve component survivor beneﬁ t plan

to revenue.

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in accordance with 10 USC, Chapter 73

recovery amounts included

on federal Form 1040, line 21 related to items previously deducted on

Line 2. SUBTRACTIONS. NOTE: You may only subtract the items

your federal return but not on your Maine return in an earlier year, such

listed below on this schedule. Do not subtract non-Maine source

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as real estate taxes

discharge of indebtedness amounts included in

income. Also include the taxpayer’s distributive share of subtraction

federal adjusted gross income deferred for federal tax purposes but not

modiﬁ cation items from partnerships, S corporations and other pass-

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Maine tax purposes during 2009 or 2010

the amount of loan payments

through entities. If you are a resident of Maine and have income taxed

made by employers included in federal adjusted gross income of

by another state, see the worksheet for Credit for Income Tax Paid to

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individuals qualiﬁ ed for the opportunity Maine credit

the amount of the

Other Jurisdictions on page 12.

reduction in your salaries and wages expense deduction directly related

Line 2a. If included in federal adjusted gross income, enter income from

to claiming the federal Work Opportunity Credit or Empowerment Zone

direct obligations of the U.S. Government, such as Series EE and

Credit reported on federal Form 5884, line 2 or federal Form 8844, line

Series HH Savings bonds and U.S. Treasury bills and notes.

2 (owners of pass-through entities, enter your share of the amount from

Line 2b. Enter the amount of any state or local income tax refund

line 3 of these forms to the extent not included on line 2). Note: do not

included on line 10 of federal Form 1040.

enter wage amounts from Form 8844 related to the federal Renewal

Line 2c. If included in federal adjusted gross income, enter social

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Community credit

settlement payments received by Holocaust victims

security benefits issued by the U.S. Government and railroad

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that are included in federal adjusted gross income

account proceeds

retirement beneﬁ ts (tier 1 and tier 2) and unemployment and sick

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from a Family Development Account administered by FAME

earnings

beneﬁ ts issued by the U.S. Railroad Retirement Board.

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from ﬁ shing operations contributed to a capital construction fund

Line 2d. Enter the pension income deduction from the Worksheet on

the amount of military retirement beneﬁ ts not included in the pension

page 10, line 8. Include copies of your 1099 forms to verify the subtraction.

income deduction on line 2d received by certain licensed dentists who

Line 2e. If included in federal adjusted gross income, enter interest

practice an average of 20 hours or more per week in Maine and accept

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from Maine municipal general obligation & private activity bonds

patients who receive MaineCare beneﬁ ts

income from investments in

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and bonds issued by a Maine airport authority.

the Northern Maine Transmission Corporation

up to $750 of property

tax beneﬁ ts provided by municipalities to senior citizens pursuant to 36

Line 2f. Enter premiums for long-term care insurance if the insurance

M.R.S.A. § 6232(1-A) to the extent included in federal adjusted gross

policy on which the premiums are paid 1) meet the federal deﬁ nition for a

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income

interest income and capital gains from the sale of bonds issued

long-term care insurance contract (IRC § 7702B(b)) (these are long-term

relative to the Maine Waste Management & Recycling Program to the

care premiums that generally qualify for federal itemized deductions), or

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extent included in federal adjusted gross income

all items of income,

2) are certiﬁ ed by the Maine Bureau of Insurance. Premiums claimed must

gain, interest, dividends, royalties and other items of income of a ﬁ nancial

be reduced by any premiums claimed as Maine itemized deductions and

institution subject to the Maine franchise tax that are included in your

by any premiums included in the federal self-employed health insurance

federal adjusted gross income due to an ownership share in the ﬁ nancial

deduction claimed on federal Form 1040, line 29.

institution that is a partnership, S corporation, or entity disregarded as

Line 2g. Use this line only if you retired after 1988 and are receiving

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separate from its owner

the total of capital gains and ordinary income

retirement beneﬁ ts from the Maine Public Employees Retirement

resulting from depreciation recapture pursuant to Code sections 1245

System (MePERS). Subtract the amount in box 14 from the amount

and 1250 realized on the sale of multifamily affordable housing property

in box 2a on Form 1099-R issued by MePERS. Also enter on this line

certiﬁ ed by the Maine State Housing Authority. A copy of the MSHA

MePERS rollover amounts previously taxed by the state, whether or not

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certiﬁ cate must be attached to the return

distributions from a private

included in federal adjusted gross income.

venture capital fund of the refundable portion of the credit received by

Line 2h. Enter up to $250, per beneﬁ ciary, of contributions made to a

the fund pursuant to 36 M.R.S.A., § 5216-B to the extent included in

Maine or non-Maine qualiﬁ ed tuition program (“529 college savings

federal adjusted gross income.

plan”) only if your federal adjusted gross income is not more than

$100,000 if single or married ﬁ ling separately or $200,000 if married

ﬁ ling joint or head of household.

Line 2i. Enter your share of a ﬁ duciary adjustment (subtraction

modiﬁ cations) relating to income from an estate or trust (36 M.R.S.A. §

5122(3)). Attach a copy of your federal Schedule K-1.

Line 2j. Bonus depreciation/section 179 expense recapture amounts

required to be added to income under 36 M.R.S.A. §§ 5122(1)(N),

5122(1)(AA), 5122(1)(FF)(2), 5200-A(1)(N) or 5200-A(1)(Y)(2) may be

recaptured over the life of the applicable asset. For more information

and examples, visit

revenue/forms

(select Income Tax

Guidance Documents).

Form 1040me - Maine Individual Income Tax Booklet - 2012 Page 4

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