Idaho Subtractions

Idaho Net Operating Loss (NOL) Carryover and Carryback Enter the Idaho NOL carryover. Include 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. Include Form 56 or a schedule showing the application of the loss. Enter the total of the NOL carryover and carryback amounts State Income Tax [...]

Can I deduct my Idaho retirement benefits?

Retirement Benefits Deduction for Qualified Retirement Benefits You may be able to deduct some of the qualifying retirement benefits and annuities you receive. The Idaho Retirement Benefits Deduction has a two-part qualification. You must qualify for both parts to receive this deduction. Part One – Age, Disability and Marital/Filing Status The recipients must be at least age 65 or [...]

How much can I claim for my Idaho alternative energy device deduction?

ALTERNATIVE ENERGY DEVICE DEDUCTION If you install an alternative energy device in your Idaho residence, you can deduct a portion of the amount actually paid or accrued (billed but not paid). In the year the device is placed in service, you can deduct 40% of the cost to construct, reconstruct, remodel, install or acquire the device but not more than $5,000. In the next three years after [...]

Idaho Additions

Federal Net Operating Loss (NOL) Deduction Generally the allowable federal NOL carryover isn’t the same amount allowed on the Idaho return. Enter any NOL carryover included on your federal return. You’ll claim the allowable Idaho NOL carryover as a subtraction on Part B, line 1. Capital Loss Carryover If you claimed a capital loss or carryover from activities not taxable by [...]

Ohio Political Fund

Beginning with tax year 2019, taxpayers may no longer designate $1 of their tax liability to go to the Ohio Political Party Fund. Prior years (before 2019): The Ohio General Assembly established this fund to support public financing of Ohio political parties. Monies from this fund may only be used for administrative costs associated with party headquarters and party fund-raising drives, [...]