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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...
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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...
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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...
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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...
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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...
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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...
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Idaho Broadband Equipment Investment Credit
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Form 68 is used to calculate the broadband equipment investment credit earned or allowed. Each member of a unitary group that earns or is allowed the credit must complete a separate Form 68. Qualifying Property You must obtain an order from the Idaho Public Utilities Commission (PUC) confirming ...
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Idaho Incentive Investment Tax Credit |
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GENERAL INSTRUCTIONS The incentive investment tax credit (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 transf...
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Idaho Net Operating Loss
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GENERAL INSTRUCTIONS A net operating loss (NOL) is the amount that Idaho taxable income, after making modifications discussed later, is less than zero. Individuals, C corporations, trusts, and estates are allowed a deduction in computing Idaho taxable income for an Idaho NOL. S corporations and pa...
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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 isn'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 using...
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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...
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Idaho Credit for Taxes Paid to Another State |
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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 include a copy of the other state’s income tax return and Idaho Form 39R with your income tax return. If your S corp...
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Idaho Investment Tax Credit
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GENERAL INSTRUCTIONS for Form 49 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. Form 49 Instructions...
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Idaho Investment Tax Credit Carry-Over Form 49C |
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General Instructions 49C 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, c...
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How do I file an amended return for Idaho?
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AMENDED RETURNS Use Form 40 or 43 to amend your return. Check the amended return box at the top of the form. Enter the applicable reason(s) for amending, as listed below. Complete the entire form and schedules using the corrected amounts. Do not include a copy of your original return with the ame...
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