What are Other Subtractions?

Some examples of other subtractions include the following:
  • If you're a member of the Mashantucket Puquot Tribe or the Mohegan Tribe and you reside in the Indian country of your tribe, you may subtract any income or gain you earned in your tribe's Indian country.
  • You may subtract the amount of interest earned on funds you deposited in a Connecticut individual development account that you included in your federal adjusted gross income.
  • You may subtract any interest you paid on debt you incurred to buy investments that provide income taxable in Connecticut but that is exempt for federal purposes and that is not deductible in determining federal adjusted gross income.
  • You may subtract expenses paid or incurred for the production (including management, conservation, and maintenance of property held for production) or collection of taxable income in Connecticut but exempt from federal income tax and that are not deductible in determining federal adjusted gross income.
  • You may subtract any distributions you received from a CHET fund as a designated beneficiary if you included the distributions in your federal adjusted gross income. It is rare that your CHET distribution would be included in your federal adjusted gross income, so most people do not need to subtract the distributions here.
  • You may subtract any amortizable bond premium on bonds on which you earned interest income that is taxable in Connecticut but is exempt from federal income tax, as long as those premiums were not deductible in determining federal adjusted gross income and are attributable to a trade or business of that individual.
  • You may subtract the amount of any interest income from notes, bonds, or other obligations of the State of Connecticut that are included in your federal adjusted gross income.
  • You may subtract the amount of any interest, dividends, or capital gains earned on contributions that you made to accounts established for a designated beneficiary under the Connecticut Homecare Option Program for the Elderly, as long as the interest is included in the gross income of the designated beneficiary for federal income tax purposes.
  • You may subtract any contributions made to a manufacturing reinvestment account (MRA).
  • You may subtract the amount of any Sandy Hook Workers Assistance Program payment received from the Office of Victim Services, Connecticut Judicial Branch, during the 2014 tax year that is included in your federal adjusted gross income.
  • Subtract 20% of the Cancellation of Debt Income amount that you added to your federal adjusted gross income on either your 2009 or 2010 Form CT-1040, Line 33 or Form CT-1040NR/PY, Line 35. You may subtract 20% of that Cancellation of Debt Income amount on the comparable line of your Connecticut income tax return for the 2015, 2016, 2017, and 2018 taxable years.

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