Are you wondering what an IT 140 form is and why you might need to fill one out? If so, this blog post is just the resource for you. Here, we will cover all of the ins and outs of the IT 140 form — what it's used for, when to complete it, important best practices and tips, as well as how to fill it out successfully. Whether you are a business owner or filing taxes on your own behalf, this blog should give you all the info needed to file your IT 140 accurately and easily!
| Question | Answer |
|---|---|
| Form Name | It 140 Form |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | west virginia schedule m form, wv m form, wv m, west virginia schedule form |
|
|
|
SCHEDULE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2020 |
|
||||
|
|
|
|
M |
|
|
|
|
Modifications to Adjusted Gross Income |
|
||||||||||||||
|
|
|
F |
W |
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||
|
Modifications Decreasing Federal Adjusted Gross Income |
|
Column A (You) |
Column B (Spouse) |
||||||||||||||||||||
|
27. |
Interest or dividends received on United States or West Virginia obligations, or |
|
|
|
|
|
|
||||||||||||||||
|
|
|
allowance for government obligation income, included in federal adjusted gross income |
27 |
|
.00 |
|
.00 |
||||||||||||||||
|
|
|
but exempt from state tax |
|
|
|
|
|
|
|
|
|
||||||||||||
|
28. |
Total amount of any benefit (including survivorship annuities) received from certain |
28 |
|
|
|
|
|
||||||||||||||||
|
|
|
federal retirement systems by retired federal law enforcement officers |
|
.00 |
|
.00 |
|||||||||||||||||
|
29. |
|
Total amount of any benefit (including survivorship annuities) received from WV state or local |
|
|
|
|
|
|
|||||||||||||||
|
|
29 |
|
|
|
|
|
|||||||||||||||||
|
|
|
police, deputy sheriffs’ or firemen’s retirement system, WV DNR. Excluding PERS |
|
.00 |
|
.00 |
|||||||||||||||||
|
30. |
.....................................................................................Military Retirement Modification |
|
|
|
|
|
30 |
|
.00 |
|
.00 |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
31. |
Other Retirement Modification |
|
|
Column A (You) |
Column B (Spouse) |
|
|
|
|
|
|
||||||||||||
|
(a) West Virginia Teachers’ and Public |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
|
Employees’ Retirement |
|
|
|
|
|
|
.00 |
|
.00 |
|
Add lines 31 (a) and (b). If that sum is greater than $2000, enter $2000 |
||||||||||
|
(b) Federal |
Retirement |
|
Systems |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
(Title 4 USC §111) |
|
|
|
|
|
|
|
|
.00 |
|
.00 |
31 |
|
.00 |
|
.00 |
|||||
|
32. |
Certain assets held by subchapter S Corporation bank |
.................................................. |
|
|
32 |
|
|
|
|
|
|||||||||||||
|
33. |
|
Social Security Benefits Modification |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
(a) TOTAL Social Security Benefits. |
|
|
|
.00 |
|
.00 |
|
You cannot claim this modification if your Federal AGI exceeds |
|||||||||||||||
|
(b) Benefits exempt for Federal tax |
|
|
|
|
|
|
|
$ 50,000 for SINGLE or MARRIED SEPARATE filers |
|||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
$100,000 for MARRIED JOINT filers |
||||||||||||||||
|
|
|
purposes |
|
|
|
|
|
|
|
|
|
|
.00 |
|
.00 |
|
Multiply 33 (c) by 0.35 |
|
|
|
|||
|
(c) Benefits taxable for Federal tax |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
|
purposes (line a minus line b) |
|
|
|
|
.00 |
|
.00 |
33 |
|
.00 |
|
.00 |
|||||||||
|
34. |
Active Duty Military pay for personnel with West Virginia Domicile |
34 |
|
.00 |
|
.00 |
|||||||||||||||||
|
|
|
(See instructions on page 22) |
........................................................................................ |
|
|
|
|
|
|
|
|
||||||||||||
|
35. |
Active Military Separation (see instructions on page 22) |
|
|
35 |
|
.00 |
|
.00 |
|||||||||||||||
|
|
|
Must enclose military orders and discharge papers |
|
|
|
|
|||||||||||||||||
|
36. |
Refunds of state and local income taxes received and reported as income to the IRS ... |
36 |
|
.00 |
|
.00 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
|
37. |
Contributions to the West Virginia Prepaid Tuition/Savings Plan Trust Funds |
37 |
|
.00 |
|
.00 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
38. |
Railroad Retirement Board Income received |
.................................................................. |
|
|
|
38 |
|
.00 |
|
.00 |
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
39. |
|
|
|
|
|
|
39 |
|
.00 |
|
.00 |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
40. |
IRC 1341 Repayments |
......................................................................................................... |
|
|
|
|
|
|
|
40 |
|
.00 |
|
.00 |
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
41. |
Autism Modification (instructions on page 22) |
..................................................................... |
|
|
|
41 |
|
.00 |
|
.00 |
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
42. |
ABLE Act |
....................................................................................................................... |
|
|
|
|
|
|
|
|
|
|
|
42 |
|
.00 |
|
.00 |
|||||
|
43. |
.....................PBGC Modification |
|
|
|
|
|
.00 |
|
.00 |
|
|
|
|
|
|
||||||||
|
(a) retirement benefits that would have been |
|
|
|
|
|
Subtract line 43 (b ) from (a) |
|
|
|
||||||||||||||
|
|
|
paid from your |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
(b) retirement benefits actually received |
|
|
|
.00 |
|
.00 |
43 |
|
.00 |
|
.00 |
||||||||||||
|
|
|
from PBGC |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
44. |
Qualified Opportunity Zone business income |
|
|
44 |
|
.00 |
|
.00 |
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
(a) |
Year of |
birth |
(b) |
Year |
of |
(c) Income not included in |
(d) Add lines 27 through 31 |
|
|
|
|
|
|
|||||||
|
45. |
|
|
(65 or older) |
|
|
disability |
|
lines 32 and 34 to 44 |
and 33 |
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
Subtract line 45 column (d) from (c) (If less than zero, enter zero) |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(NOT TO EXCEED $8000) |
|
|
|
|||||||||
|
YOU |
|
|
|
|
|
|
|
|
|
|
|
|
.00 |
|
.00 |
|
|
.00 |
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
SPOUSE |
|
|
|
|
|
|
|
|
|
|
|
|
.00 |
|
.00 |
45 |
|
|
|
.00 |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
*P40202003W* |
46. Surviving spouse deduction |
46 |
|
.00 |
|
.00 |
|||||||||||||||
|
|
|
Continues on next page |
|
|
|||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(instructions on page 23) |
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Modifications Decreasing Federal Adjusted Gross Income |
||||||||
|
|
|
|
P |
4 |
0 |
2 |
0 |
2 |
0 |
0 |
3 |
W |
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
SCHEDULE |
|
|
2020 |
|
|
|
M |
Modifications to Adjusted Gross Income |
|
||
|
|
F |
|
|||
|
|
|
|
|||
|
Modifications Decreasing Federal Adjusted Gross Income |
Column A (You) |
Column B (Spouse) |
|||
47. Add lines 27 through 46 for each column |
47 |
|
.00 |
48.TOTAL SUBTRACTIONS (line 47, Col A plus line 47,Col B) Enter here and on line 3 of FORM |
48 |
|
|
|
|
|
|
.00
.00
Modifications INCREASING Federal Adjusted Gross Income |
|
|
49. |
Interest or dividend income on federal obligations which is exempt from federal tax but subject to state tax |
49 |
50. |
Interest or dividend income on state and local bonds other than bonds from West Virginia sources |
50 |
51. |
Interest on money borrowed to purchase bonds earning income exempt from West Virginia tax |
51 |
52. |
Qualifying 402(e) |
52 |
53. |
Other income deducted from federal adjusted gross income but subject to state tax |
53 |
54. |
Withdrawals from a WV Prepaid Tuition/SMART529© Savings Plan NOT used for payment of qualifying expenses |
54 |
55. |
ABLE ACT withdrawals not used for qualifying expenses |
55 |
56.TOTAL ADDITIONS (Add lines 49 through 55). Enter here and on Line 2 of Form |
56 |
|
.00
.00
.00
.00
.00
.00
.00
.00
*P40202004W*
P |
4 |
0 |
2 |
0 |
2 |
0 |
0 |
4 |
W |