Solved: Why do I need to split of LT gains and losses, for forms 1099-b and 1099-div, between before January 01, 2011 and after December 31, 2011 for my AZ return?
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Why do I need to split of LT gains and losses, for forms 1099-b and 1099-div, between before January 01, 2011 and after December 31, 2011 for my AZ return?

When I do a quick check or my AZ return I am being asked to split LT gains between before January 1, 2012 and after December 31, 2011

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Why do I need to split of LT gains and losses, for forms 1099-b and 1099-div, between before January 01, 2011 and after December 31, 2011 for my AZ return?

Arizona treats long-term gains differently for assets acquired after December 31, 2011 than before.

 
The 140 instructions read:
You may subtract 25% (.25) of any net long-term capital gain
included in your federal adjusted gross income that is derived
from an investment in an asset acquired after December 31, 2011.
 
You can find this in the instructions for lines 19-23 for Subtractions on page 11 in the 2019 Arizona Redient Booklet.

 

[Edited 4/1/2020 5:18 pm CDT - updated for 2019]

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Highlighted
Level 13

Why do I need to split of LT gains and losses, for forms 1099-b and 1099-div, between before January 01, 2011 and after December 31, 2011 for my AZ return?

Arizona treats long-term gains differently for assets acquired after December 31, 2011 than before.

 
The 140 instructions read:
You may subtract 25% (.25) of any net long-term capital gain
included in your federal adjusted gross income that is derived
from an investment in an asset acquired after December 31, 2011.
 
You can find this in the instructions for lines 19-23 for Subtractions on page 11 in the 2019 Arizona Redient Booklet.

 

[Edited 4/1/2020 5:18 pm CDT - updated for 2019]

View solution in original post

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