Form 4952 Arizona 2024-2025

Form 4952 Arizona: What You Should Know

For information about filing a joint return, go to  For additional information, see the Arizona Department of Revenue website. For information on the  IRS Form 8965-EZ and the Arizona income tax brackets, go to the Arizona Department of Revenue home page. For information on the  IRS Form 4952, go to the IRS website. For other tax forms, or questions about the state and federal income tax, call the Arizona Department of Revenue Tax Assistance and Special Services Division at.  For more information on the  Arizona Internal Revenue Code see pages 1 and 33. (′) These rules apply to all persons with respect to whom the Arizona tax is imposed. (‴) This section shall be known as the investment interest expense deduction. (‵) Investment interest expense is the amount of interest received on an interest in property received as a consideration for or in connection with the performance of an office, employment or employment with the state or any political subdivision thereof or other agency or instrumentality of, or a person providing services to, the state. Income in excess of 1,000.000 and less than 75,000 per calendar year shall not be deductible. Income in excess of 75,000 shall not be reduced. If any interest is included on a return for the entire calendar year, the excess so included shall be included in the individual's income under paragraph (e). If a taxpayer chooses to report all or part of his or her capital gain and deduction allocable to the interest expense on a return for a single year, the interest expense deduction shall be reduced to the extent of his or her capital gain allocable to the interest expense. If a taxpayer allocable his capital gain to the interest expense on a return for a single year, all interest expense deductions under this section shall be allocated to the same tax year. An employee shall apply the amounts of capital gain allocated in accordance with the rules of paragraph (e), the reduced amounts of interest expense allocated in accordance with the rules of paragraph (f), and the reduced amounts of deductions allocated in accordance with the rules of paragraph (g); however, the amount of interest expense allocated to the next subsequent year shall not reduce less than the amount of tax due on the previous year's deductions. (g) In calculating deductions under this section, an employee shall apply the amount of a capital gain allocable to the interest expense.

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