Form PA-40 Schedule A "Interest Income" - Pennsylvania

What Is Form PA-40 Schedule A?

This is a legal form that was released by the Pennsylvania Department of Revenue - a government authority operating within Pennsylvania.The document is a supplement to Form PA-40, Pennsylvania Income Tax Return. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on May 1, 2019;
  • The latest edition provided by the Pennsylvania Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form PA-40 Schedule A by clicking the link below or browse more documents and templates provided by the Pennsylvania Department of Revenue.

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Download Form PA-40 Schedule A "Interest Income" - Pennsylvania

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1901210052
PA SCHEDULE A
Interest Income
PA-40 A 05-19 (FI)
2019
PA Department of Revenue
OFFICIAL USE ONLY
START
Name shown first on the PA-40 (if filing jointly)
Social Security Number (shown first)
CAUTION: Federal and PA rules for taxable interest income are different. Read the instructions.
If your total PA-taxable interest income (taxpayer, spouse and/or joint) is equal to the amount reported on your federal return and you have
no amounts for Lines 2 through 15 (not including subtotal Lines 4 and 10) of PA Schedule A, you must report your income on Line 2
of the PA-40, but you do not have to submit PA Schedule A. If there are any amounts (taxpayer, spouse and/or joint) for any of the
Lines 2 through 15 (not including subtotal Lines 4 and 10) of the schedule, you must complete and submit PA Schedule A with your
PA-40. A taxpayer and spouse must complete separate schedules to report their income if any amounts are reported on Lines 2 through
15 (not including subtotal Lines 4 and 10) of Schedule A. However, if all the income is earned on a joint basis, one schedule may be
completed. Complete the oval to indicate whether the income included on the schedule is from the taxpayer, spouse or joint. If a separate
PA Schedule A is prepared for a taxpayer and spouse, include only the taxpayer or spouse share of the income for each line.
PA SCHEDULE A - PA-Taxable Interest Income
(See the instructions.)
Taxpayer
Spouse
Joint
1. $
1. Interest income reported on your federal return. See instructions.
2. $
2. Tax-exempt interest income included in Line 2a of your federal return.
3. Other addition adjustments. See instructions.
3. $
Description:
4. $
4. Add Lines 1, 2 and 3.
5. $
5. Interest income from federal Schedule(s) K-1. See instructions.
6. Interest income from direct obligations of the Commonwealth of Pennsylvania
6. $
and/or its municipalities.
7. $
7. Interest income from direct obligations of the U.S. government.
8. Other reduction adjustments. See instructions.
8. $
Description:
9. $
9. Add Lines 5, 6, 7 and 8.
10. $
10. Subtract Line 9 from Line 4.
11. Distributions from Life Insurance, Annuity or Endowment Contracts included in
11. $
federal taxable income.
12. $
12. Distributions from Charitable Gift Annuities included in federal taxable income.
13. Distributions from IRC Section 529 Qualified Tuition Programs for
13. $
non-educational purposes.
14. Distributions from Health/Medical Savings Accounts included in federal
14. $
taxable income.
15. Interest income from PA S corporations and partnership(s), reported on your
15. $
PA Schedule(s) RK-1 or federal Schedule(s) K-1.
16. $
16. Total PA-Taxable Interest Income. Add Lines 10 through 15. Enter on Line 2 of your PA-40.
1901210052
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1901210052
PA SCHEDULE A
Interest Income
PA-40 A 05-19 (FI)
2019
PA Department of Revenue
OFFICIAL USE ONLY
START
Name shown first on the PA-40 (if filing jointly)
Social Security Number (shown first)
CAUTION: Federal and PA rules for taxable interest income are different. Read the instructions.
If your total PA-taxable interest income (taxpayer, spouse and/or joint) is equal to the amount reported on your federal return and you have
no amounts for Lines 2 through 15 (not including subtotal Lines 4 and 10) of PA Schedule A, you must report your income on Line 2
of the PA-40, but you do not have to submit PA Schedule A. If there are any amounts (taxpayer, spouse and/or joint) for any of the
Lines 2 through 15 (not including subtotal Lines 4 and 10) of the schedule, you must complete and submit PA Schedule A with your
PA-40. A taxpayer and spouse must complete separate schedules to report their income if any amounts are reported on Lines 2 through
15 (not including subtotal Lines 4 and 10) of Schedule A. However, if all the income is earned on a joint basis, one schedule may be
completed. Complete the oval to indicate whether the income included on the schedule is from the taxpayer, spouse or joint. If a separate
PA Schedule A is prepared for a taxpayer and spouse, include only the taxpayer or spouse share of the income for each line.
PA SCHEDULE A - PA-Taxable Interest Income
(See the instructions.)
Taxpayer
Spouse
Joint
1. $
1. Interest income reported on your federal return. See instructions.
2. $
2. Tax-exempt interest income included in Line 2a of your federal return.
3. Other addition adjustments. See instructions.
3. $
Description:
4. $
4. Add Lines 1, 2 and 3.
5. $
5. Interest income from federal Schedule(s) K-1. See instructions.
6. Interest income from direct obligations of the Commonwealth of Pennsylvania
6. $
and/or its municipalities.
7. $
7. Interest income from direct obligations of the U.S. government.
8. Other reduction adjustments. See instructions.
8. $
Description:
9. $
9. Add Lines 5, 6, 7 and 8.
10. $
10. Subtract Line 9 from Line 4.
11. Distributions from Life Insurance, Annuity or Endowment Contracts included in
11. $
federal taxable income.
12. $
12. Distributions from Charitable Gift Annuities included in federal taxable income.
13. Distributions from IRC Section 529 Qualified Tuition Programs for
13. $
non-educational purposes.
14. Distributions from Health/Medical Savings Accounts included in federal
14. $
taxable income.
15. Interest income from PA S corporations and partnership(s), reported on your
15. $
PA Schedule(s) RK-1 or federal Schedule(s) K-1.
16. $
16. Total PA-Taxable Interest Income. Add Lines 10 through 15. Enter on Line 2 of your PA-40.
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2019
Pennsylvania Department of Revenue
Instructions for PA-40 Schedule A
Interest Income
PA-40 A IN 05-19
If there are no amounts on Lines 2 through 15 (not including
GENERAL INFORMATION
subtotal Lines 4 and 10), do not complete and include PA-
40 Schedule A with the PA-40. However, the amount of in-
PURPOSE OF SCHEDULE
terest income received must be reported on Line 2 of the
Use PA-40 Schedule A to report the amount of interest in-
PA-40. Nonresident taxpayers are not required to complete
come earned and reported for federal income tax purposes
PA-40 Schedule A.
from:
Separate schedules must be completed for a taxpayer and
● Bank deposits;
spouse if either has income on Lines 2 through 15 (not in-
● Savings and loan associations;
cluding subtotal Lines 4 and 10). Both schedules must be
● Credit unions;
completed and included even if only one had amounts on
those lines. A joint PA-40 Schedule A may be completed only
● Bonds;
if all amounts of interest income are earned on a joint basis.
● Certificates of deposit;
If some income is earned on a joint basis while other income
● Interest bearing checking accounts;
is not, the joint income must be split and the taxpayer and
● Interest on state, federal, local and foreign tax refunds;
spouse must report their separate share of the income from
the jointly owned accounts on each PA-40 Schedule A.
● Mutual savings banks and cooperative banks;
An amended PA Schedule A must be included with Schedule
● GNMA and FNMA certificates and other obligations that
PA-40 X if increases or decreases in income amounts on PA
are guaranteed by the U.S. government (but not direct
Schedule A are discovered after an original or other amended
obligations of the U.S. government);
return is filed with the department. Section III on Page 2 of
● Obligations of other states and countries; and
Schedule PA-40 X must be completed to explain any increase
● Other deposits, investments, and obligations.
or decrease to the amount of interest income reported on an
amended PA-40, Personal Income Tax Return.
PA-40 Schedule A also adjusts the federal income to deter-
mine the PA-taxable interest income by reporting income
SCHEDULE INSTRUCTIONS
and adjustments from:
● Tax-exempt bonds for other states’ obligations;
IDENTIFICATION INFORMATION
● Direct obligation of the U.S. government;
NAME
● 529 plan distributions for non-educational purposes;
Enter the name of the taxpayer. If a jointly filed return, enter the
name of the primary taxpayer (name shown first on the PA-40,
● Distributions from life insurance and endowment con-
Personal Income Tax Return). Enter the primary taxpayer’s
tracts;
name when reporting the interest income for the spouse.
● Taxable distributions from Medical/ Health Savings ac-
SOCIAL SECURITY NUMBER
counts; and
Enter the Social Security number (SSN) of the taxpayer.
● Various other increase and decrease adjustments in-
Enter the primary taxpayer’s SSN also when reporting inter-
cluded in the following instructions.
est income for the spouse.
Refer to the PA Personal Income Tax Guide – Interest sec-
TAXPAYER OVAL
tion for additional information.
Complete the taxpayer oval to indicate the interest income
reported is from the taxpayer whose name appears on the
RECORDING DOLLAR AMOUNTS
name line.
Show money amounts in whole-dollars only. Eliminate any
SPOUSE OVAL
amount less than $0.50 and increase any amount that is
Complete the spouse oval to indicate the interest income re-
$0.50 or more to the next highest dollar.
ported was earned by the spouse listed on a PA-40, Per-
sonal Income Tax Return, filed using the Married, Filing
WHO MUST COMPLETE
Jointly filing status.
PA resident and part-year resident taxpayers must complete
JOINT OVAL
and include PA-40 Schedule A with an originally filed PA-40,
Complete the joint oval if all the interest income reported by
Personal Income Tax Return, if there are any amounts on
the taxpayer and spouse is earned and being reported on a
Lines 2 through 15 (not including subtotal Lines 4 and 10).
joint basis.
www.revenue.pa.gov
PA-40 A
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NOTE: Do not use the joint oval to report joint interest
tions of the Commonwealth of Pennsylvania and/or direct
income if any interest income is earned by the tax-
obligations of political subdivisions of Pennsylvania. Include
payer and/or spouse separately. In such cases, the joint in-
on this line any interest income from obligations issued by
come must be split and the taxpayer and spouse must show
the commonwealth, a public authority, commission, board
the separate share of the joint interest income on the sepa-
or other agency created by the commonwealth or political
rate PA-40 Schedule A prepared for each.
subdivision of the commonwealth.
LINE INSTRUCTIONS
LINE 7
Enter the amount of any interest income from direct obliga-
IMPORTANT: If a separate PA-40 Schedule A is pre-
pared for a taxpayer and spouse, include only the tax-
tions of the U.S. Government (U.S. Treasury Bonds, Notes,
payer or spouse share of the interest income for each line.
Bills, Certificates and Savings Bonds). Do not include
amounts from US obligations reported on federal Schedule
LINE 1
K-1(s) or on Line 3 of federal Schedule B in this amount.
See the REV-1643, Tax-Exempt Obligations for Pennsylva-
Enter the amount of interest income reported on Line 2b of
nia Personal Income Tax Purposes, for additional informa-
the federal return. If filing a joint return and are required to
tion.
show the interest income for a taxpayer and spouse sepa-
rately, enter only the taxpayer or spouse’s portion of the in-
LINE 8
terest income reported on Line 2b of the federal return. If a
federal return is not required to be filed, see the instructions
Enter any other adjustments that decrease PA interest in-
for Line 3.
come and provide a description of the amounts. Examples
include, but are not limited to: interest income earned while
LINE 2
a nonresident; interest on installment obligations that are in-
cluded as gain on the sale of property for PA purposes; for-
Enter the total amount of tax-exempt interest income in-
feited interest penalty; interest income from an irrevocable
cluded in Line 2a of federal Form 1040.
federal grantor trust that is required to file a PA-41, Fiduciary
CAUTION: Do not include the amount of exempt-in-
Income Tax Return; and amortization of bond premium. An
terest dividends included in Line 2a of the federal re-
example of the description for interest income earned while
turn in this amount. See the instructions for PA-40 Schedule
a nonresident would be “Non-Residency Period Interest”.
B.
Do not include expenses incurred to realize interest income.
Include a statement providing the descriptions and amounts
LINE 3
if more than one type of adjustment is included in the
amount reported for this line.
Enter any other adjustments for items that increase PA-tax-
able interest income and provide a description of the
LINE 9
amounts. Examples of additions to or deductions from fed-
eral interest income that must be added back include, but
Add the amounts on Lines 5 through 8 and enter the result.
are not limited to: taxable distributions from PA ABLE Sav-
ings Program Fund accounts; self-charged interest; amorti-
LINE 10
zation of bond premium; nominee interest; or expenses
incurred to realize interest income.
Subtract the amount on Line 9 from the amount on Line 4
IMPORTANT: If a federal return is not required to be
and enter the result.
filed, enter on this line the amount of any interest in-
come reported in Box 1 of all federal Forms 1099-INT, Inter-
LINE 11
est Income, as well as any other federally taxable interest
income received from all sources including, but not limited
Enter amounts reported on federal Form 1099-R with Box 7
to, U.S. government interest or interest from federal Sched-
codes 1, 2, 3, 4, or 7 or C that also include code D.
ule K-1s.
LINE 12
LINE 4
Enter the amount of charitable gift annuity income taxable
Add the amounts on Lines 1 through 3 and enter the result.
for federal income tax purposes.
LINE 5
LINE 13
Enter the total amount of interest income included in the
Enter the amount of any distributions from IRC Section 529
amounts reported in Line 1 of federal Schedule B from fed-
plans that are for non-educational purposes. The cost re-
eral Schedule(s) K-1.
covery method must be used to determine the taxable
amount for contributions made in tax years 2005 and earlier.
LINE 6
The total amount of distributions claimed as deductions for
tax years 2006 and later is taxable.
Enter the amount of tax-exempt interest from direct obliga-
2
PA-40 A
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LINE 14
LINE 16
Enter the amount of any distributions from Health/Medical
Add the amounts on Lines 10 through 16 and enter the re-
Savings accounts included as Other income on Line 21 of
sult.
federal Form 1040, Schedule 1.
This amount cannot be a negative number. If the result
is negative, an amount has not been included on an
LINE 15
addition line or excess adjustments have been recorded.
Enter the amount of interest income from PA S corporations
Include the total from Line 16 (or the combined Line 16
and partnerships. Include the amounts reported from all PA
amounts for taxpayer and spouse using the Married, Filing
Schedule(s) RK-1, or federal Schedule(s) K-1 if an RK-1 is
Jointly filing status) on Line 2 of the PA-40, Personal Income
not provided. Include any U.S. government interest from fed-
Tax Return.
eral Schedule(s) K-1, where PA Schedule(s) RK-1 is/are not
provided, on Line 8 of PA-40 Schedule A.
www.revenue.pa.gov
PA-40 A
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