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Nebraska Special Capital Gains/Extraordinary Dividend Deduction

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Question
How Do I Qualify For the Nebraska Special Capital Gains/Extraordinary Dividend Deduction?

Answer

NEBRASKA SPECIAL CAPITAL GAINS/EXTRAORDINARY DIVIDEND DEDUCTION

This deduction is available only to Nebraska residents. Nonresidents do not qualify for this deduction. Enter the amount of the special capital gain or extraordinary dividend. Refer to the Special Capital Gains Election and Computation, Form 4797N, for additional information. The Form 4797N, a copy of Federal Schedule D, and Sales and Other Dispositions of Capital Assets, Form 8949 must be attached to your Form 1040N to document your deduction. 
 
Note: If claiming the Extraordinary Dividend Deduction, a copy of Federal Schedule B is required.
 
Required supporting documentation may be submitted as an attached PDF document when e-filing your return if your software supports these types of attachments. If the supporting documentation is not received with the return, the Department may request the required documentation during the processing of your return. This may result in a delayed refund.

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Article Details
Views: 895 Created on: Jun 15, 2013
Date updated: Aug 25, 2015
Posted in: STATES, Nebraska

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