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Category: Idaho
30 Articles
Orange arrow Idaho Retirement Benefits Deduction

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  Retirement Benefits Deduction If you are age 65 or older, or if you are disabled and age 62 or older, you may be able to deduct some of the retirement benefits and annuities you receive. You cannot claim this deduction if you file married filing separate. Only the following are qualified retiremen...
Posted in: STATES, Idaho

Orange arrow Idaho Subtractions

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  Allowable Subtractions from Idaho Income: Idaho Net Operating Loss (NOL) Carryover and CarrybackEnter the Idaho NOL carryover. Attach Form 56 or a schedule showing the application of the loss. If this is an amended return to claim an NOL carryback, enter the amount of the NOL carryback. Attach for...
Posted in: STATES, Idaho

Orange arrow Idaho Health Insurance

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  Health Insurance Premiums Deduct premiums you paid for health insurance for yourself, your spouse, and your dependents if those premiums have not already been deducted or excluded from your income. If you claimed a deduction for health insurance premiums on your federal Form 1040, Schedule A, cal...
Posted in: STATES, Idaho

Orange arrow Idaho Long-Term Care Insurance

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  You may deduct the amount you paid in premiums for qualified long-term care insurance that are not otherwise deducted. Qualified long-term care insurance includes any insurance policy that provides coverage for at least twelve consecutive months for yourself, your spouse, or your dependents for on...
Posted in: STATES, Idaho

Orange arrow Idaho Broadband Equipment Investment Credit

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  Qualifying Property Qualified broadband equipment is equipment that qualifies for the investment tax credit and is capable of transmitting signals at a rate of at least 200,000 bits per second to a subscriber and at least 125,000 bits per second from a subscriber. In addition, specific requirements...
Posted in: STATES, Idaho

Orange arrow Idaho Credit for Qualifying New Employees

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  You may be able to earn either a $1,000 credit or a $500 credit for a qualifying new employee. You cannot earn both credits for the same employee. The applicable credit rate depends on whether the new employee meets certain wage and benefit criteria. If the new employee does not meet the criteria f...
Posted in: STATES, Idaho

Orange arrow Credit for Idaho Research Activities

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  Qualified Research The Idaho research credit conforms to the Internal Revenue Code (IRC) definitions of basic research payments, basic research, qualified research expenses, and qualified research, except that only the amounts related to research conducted in Idaho qualify for the Idaho research c...
Posted in: STATES, Idaho

Orange arrow Idaho Incentive Investment Tax Credit

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  The incentive ITC was eligible to be earned on qualified investments in Idaho that were placed in service in tax years beginning in 2001 only. Although the credit can no longer be earned, it may be carried over from 2001 or acquired by transfer from another taxpayer who earned the credit in 2001. ...
Posted in: STATES, Idaho

Orange arrow Idaho Net Operating Loss

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  NET OPERATING LOSS (NOL) A net operatingloss incurred in tax years beginning on or after January 1, 2013, will be subtracted in the twenty succeeding taxable years unless an amended return carrying the loss back is filed within one year of the end of the taxable year of the net operation loss that...
Posted in: STATES, Idaho

Orange arrow Idaho Health and Long-Term Care Insurance

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  You may deduct the amount you paid in premiums for qualified long-term care insurance that aren't otherwise deducted or accounted for. If you claimed a deduction for long-term care insurance on your federal Form 1040, Schedule A, calculate the long-term care insurance allowed as a deduction by usin...
Posted in: STATES, Idaho

Orange arrow Idaho Medical Savings Account Contributions

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  Medical Savings Account Contributions An Idaho Medical Savings Account (MSA) allows you to save for medical expenses and nursing home costs while reducing the amount of Idaho income tax you owe. Contributions to a federal MSA do not qualify for this Idaho deduction. To qualify as an MSA the finan...
Posted in: STATES, Idaho

Orange arrow Idaho Credit for Taxes Paid to Another State

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  Credit for Taxes Paid to Another State When the same income is taxed by both Idaho and another state, you may be entitled to a credit for tax paid to the other state. Use this section to compute the credit. You must attach a copy of the other state's income tax return and Idaho Form 39R to your in...
Posted in: STATES, Idaho

Orange arrow Idaho Investment Tax Credit

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  Instructions for Idaho Form 49 GENERAL INSTRUCTIONS Form 49 is used to calculate the investment tax credit (ITC) earned or allowed. Each member of a unitary group of corporations that earns or is allowed the credit must complete a separate Form 49. Property Used Both In and Outside Idaho If pro...
Posted in: STATES, Idaho

Orange arrow Idaho Investment Tax Credit Carry-Over Form 49C

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  GENERAL INSTRUCTIONS Complete this form if an investment tax credit (ITC) carryover is included in the current year's available credit. Once the Form 49C is completed, the carryover will be carried to Form 49. Carryover Period ITC earned in tax years beginning on or after January 1, 2000, can be...
Posted in: STATES, Idaho

Orange arrow How do I determine my residency status for Idaho?

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  Are you a resident, a nonresident, or a part-year resident? The following will help you decide: You are an Idaho resident, even though you live outside Idaho, if the following are true: You think of Idaho as your permanent home Idaho is the center of your financial, social, and family life Id...
Posted in: STATES, Idaho


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