Form PA-40 2018 Schedule O - Other Deductions - Pennsylvania

Form PA-40 is a Pennsylvania Department of Revenue form also known as the "Schedule O - Other Deductions". The latest edition of the form was released in October 1, 2018 and is available for digital filing.

Download a PDF version of the Form PA-40 down below or find it on Pennsylvania Department of Revenue Forms website.

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1801610054
PA SCHEDULE O
Other Deductions
PA-40 O 10-18 (FI)
2018
PA Department of Revenue
OFFICIAL USE ONLY
START
Name shown first on the PA-40 (if filing jointly)
Social Security Number (shown first)
(See the instructions.)
PART I - IRC Section 529 Qualified Tuition Program Contributions (Limit $15,000 per beneficiary, per taxpayer-spouse.)
Beneficiary Information:
Contributions by:
(a) Name:
(b) Social Security Number
(c) Taxpayer
(d) Spouse
1.
1(c).
1(d).
2. Total IRC Section 529 Contributions - Add all amounts listed (including
amounts on additional schedules).
2(c).
2(d).
PART II - IRC Section 529A Pennsylvania ABLE Savings Account Program Contributions (See the instructions for limits on contributions.)
Beneficiary Information:
Contributions by:
(a) Name:
(b) Social Security Number
(c) Taxpayer
(d) Spouse
3.
3(c).
3(d).
4. Total IRC Section 529A Contributions - Add all amounts listed
4(c).
4(d).
(including amounts on additional schedules).
PART III - Other Deductions and Limitations
5. Medical Savings Account contributions allowed for federal purposes.
5(c).
5(d).
6. Health Savings Account contributions allowed for federal purposes.
6(c).
6(d).
7. Add Lines 2, 4, 5 and 6 and enter amounts here for taxpayer and/or spouse.
7(c).
7(d).
8. Total income reported on PA-40 Line 9 by taxpayer and spouse separately.
8(c).
8(d).
9. Lesser of Line 7 or Line 8 for taxpayer and/or spouse.
9(c).
9(d).
10. Total Other Deductions - Add the amounts from Line 9 for taxpayer and/or spouse together.
Enter here and on Line 10 of your PA-40.
10.
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1801610054
PA SCHEDULE O
Other Deductions
PA-40 O 10-18 (FI)
2018
PA Department of Revenue
OFFICIAL USE ONLY
START
Name shown first on the PA-40 (if filing jointly)
Social Security Number (shown first)
(See the instructions.)
PART I - IRC Section 529 Qualified Tuition Program Contributions (Limit $15,000 per beneficiary, per taxpayer-spouse.)
Beneficiary Information:
Contributions by:
(a) Name:
(b) Social Security Number
(c) Taxpayer
(d) Spouse
1.
1(c).
1(d).
2. Total IRC Section 529 Contributions - Add all amounts listed (including
amounts on additional schedules).
2(c).
2(d).
PART II - IRC Section 529A Pennsylvania ABLE Savings Account Program Contributions (See the instructions for limits on contributions.)
Beneficiary Information:
Contributions by:
(a) Name:
(b) Social Security Number
(c) Taxpayer
(d) Spouse
3.
3(c).
3(d).
4. Total IRC Section 529A Contributions - Add all amounts listed
4(c).
4(d).
(including amounts on additional schedules).
PART III - Other Deductions and Limitations
5. Medical Savings Account contributions allowed for federal purposes.
5(c).
5(d).
6. Health Savings Account contributions allowed for federal purposes.
6(c).
6(d).
7. Add Lines 2, 4, 5 and 6 and enter amounts here for taxpayer and/or spouse.
7(c).
7(d).
8. Total income reported on PA-40 Line 9 by taxpayer and spouse separately.
8(c).
8(d).
9. Lesser of Line 7 or Line 8 for taxpayer and/or spouse.
9(c).
9(d).
10. Total Other Deductions - Add the amounts from Line 9 for taxpayer and/or spouse together.
Enter here and on Line 10 of your PA-40.
10.
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2018
Pennsylvania Department of Revenue
Instructions for PA-40 Schedule O
Other Deductions
PA-40 O IN 10-18
are discovered after an original or
the April 15 of the following tax year
WHAT’S NEW
other amended return is filed with
may only be included on the following
the department. Part 3 on Page 2 of
tax year’s return.
As a result of the change to the federal
Schedule PA-40X must be completed
gift tax exclusion limit for tax years
Column (b)
to explain any increase or decrease
beginning after Dec. 31, 2017, the con-
Enter the corresponding Social Security
to the amount of contributions and
tribution limit has been increased to
number for each beneficiary listed in
resulting deduction reported on an
$15,000 per beneficiary, per taxpayer-
Column (a).
amended PA-40, Personal Income
spouse for IRC Section 529 Qualified
Tax Return.
Tuition Program accounts and to
Columns (c) and (d)
$15,000 per account or contributor for
Enter the amount contributed on behalf
SCHEDULE
IRC Section 529A Pennsylvania ABLE
of each beneficiary by the taxpayer and/
Savings Account Program accounts.
INSTRUCTIONS
or spouse in the appropriate column.
The federal form 1040 line number
references changed for Part III, Lines
IDENTIFICATION INFORMATION
REMINDER: Include the amount of any
5 and 6.
Name
IRC Section 529 contribution reported
Enter the name of the taxpayer. If a
and made from the immediately pre-
GENERAL INFORMATION
jointly filed return, enter the name of
ceding tax year’s PA-40 Schedule P,
the primary taxpayer (name shown first
Refund Donations to Pennsylvania 529
PURPOSE OF SCHEDULE
on the PA-40, Personal Income Tax
College Savings Program Accounts.
Use PA-40 Schedule O to report the
Return). Enter the primary taxpayer’s
CAUTION: Do not include more
amount of deductions for contributions
name even when only reporting the
than $15,000 per beneficiary in
to Medical Savings or Health Savings
other deductions for the spouse on a
Accounts and/or the amount of
Column (c) or more $15,000 per ben-
return filed using the Married, Filing
contributions to an IRC Section 529
eficiary in Column (d).
Jointly filing status.
Qualified Tuition Program by the
If there are more than 10 benefi-
Social Security Number
taxpayer and/or spouse.
ciaries for which a deduction is
Enter the Social Security number (SSN)
claimed, please include a statement
of the taxpayer. Enter the primary
RECORDING DOLLAR
showing each beneficiary’s name
taxpayer’s SSN also when reporting
AMOUNTS
Social Security number and the amount
only the other deductions for the spouse
on a return filed using the Married,
of the deduction claimed for each of
Show money amounts in whole-dollars
Filing Jointly filing status.
the beneficiaries by the taxpayer and/
only. Eliminate any amount less than
or spouse.
$0.50 and increase any amount that is
LINE INSTRUCTIONS
$0.50 or more to the next highest dollar.
LINE 2
PART I - IRC SECTION 529
WHO MUST COMPLETE
Columns (c) and (d)
QUALIFIED TUITION
Add the amounts for Columns (c)
PA-40 Schedule O must be completed
PROGRAM CONTRIBUTIONS
and/or (d) and enter the total.
and included with an originally filed
PA-40, Personal Income Tax Return, if
PART II - IRC SECTION 529A
LINE 1
the taxpayer and/or spouse made
PENNSYLVANIA ABLE
contributions to a Medical Savings or
Column (a)
SAVINGS ACCOUNT
Health Savings Account and/or made
contributions to an IRC Section 529
PROGRAM CONTRIBUTIONS
Enter the name of each beneficiary for
Qualified Tuition Program and the
whom an IRC Section 529 Qualified
taxpayer and/or spouse wish to take
Tuition Program contribution was
LINE 3
an amount as a deduction on Line 10 of
made during the tax year.
the PA-40, Personal Income Tax Return.
Column (a)
IMPORTANT: Only include con-
Enter the name of each beneficiary for
An amended PA Schedule O must
tributions made on behalf of a
whom an IRC Section 529A Pennsyl-
be included with Schedule PA-40X
beneficiary up to and including Dec. 31
vania ABLE Savings Program contri-
if increases or decreases in other
of the tax year. Contributions made
deduction amounts on PA Schedule O
after Dec. 31 of the tax year and before
bution was made during the tax year.
www.revenue.pa.gov
PA-40 O
1
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IMPORTANT: Only include con-
amount. In addition, the maximum
LINE 7
tributions made on behalf of a
contributions by a contributor to one
or more accounts cannot exceed the
beneficiary up to and including Dec. 31
Columns (c) and (d)
annual federal gift tax exclusion
of the tax year. Contributions made
Add the amounts in Columns (c) and/
amount. For tax years beginning on or
after Dec. 31 of the tax year and
or (d) from Lines 2, 4, 5 and 6 together
after Jan. 1, 2018, the annual federal
before the April 15 of the following
and enter the results here.
gift tax exclusion amount is $15,000.
tax year may only be included on the
following tax year’s return.
LINE 8
PART III - OTHER
Column (b)
DEDUCTIONS AND
Enter the corresponding Social Security
Columns (c) and (d)
LIMITATIONS
number for each beneficiary listed in
Enter the total income included in Line
Column (a).
9 of the PA-40, calculated for the
LINE 5
Columns (c) and (d)
taxpayer and spouse separately.
Enter the amount contributed on
Columns (c) and (d)
behalf of each beneficiary by the
NOTE: When added together,
Enter the amount of Medical Savings
contributor (taxpayer and/or spouse) in
the amounts reported separately
Account contributions for the taxpayer
the appropriate column.
and/or spouse allowed for federal
for the taxpayer and/or spouse for
income tax purposes included in Line
If there are more than three ben-
Line 6 of PA Schedule O should equal
36 of federal Form 1040, Schedule 1.
eficiaries for which a deduction is
Line 9 of the PA-40.
claimed, please include a statement
showing the name, Social Security
LINE 6
LINE 9
number and the amount of the deduc-
Columns (c) and (d)
tion claimed by the contributor for each
Columns (c) and (d)
beneficiary.
Enter the amount of Health Savings
Compare the amounts on Lines 7 and
Account contributions for the taxpayer
8 for Columns (c) and/or (d). Enter the
and/or spouse allowed for federal
LINE 4
lesser of the amounts for each column.
income tax purposes included on Line
Columns (c) and (d)
25 of federal Form 1040, Schedule 1.
Add the amounts for Columns (c)
LINE 10
If claiming either of the deduc-
and/or (d) and enter the total.
tions on Line 5 or Line 6 of this
Add the amounts for Columns (c) and
schedule, a copy of Pages 1 and 2 of
CAUTION: The maximum contri-
(d) from Line 9 together. Enter the Total
federal Form 1040 along with a copy
butions to any one Pennsylvania
Other Deductions amount here and on
of Form 1040, Schedule 1 must be
ABLE Savings Program account by
Line 10 of the PA-40, Personal Income
one or more contributors cannot exceed
included with the PA-40, Personal
the annual federal gift tax exclusion
Income Tax Return.
Tax Return.
2
PA-40 O
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