Questions & Answers

What are Other Subtractions?

Some examples of other subtractions include the following:

  1. If you're an enrolled member of the Mashantucket Puquot Tribe or the Mohegan Tribe and you reside in the Indian country of your tribe, subtract any income or gain you earned in your tribe's Indian country where the income or gain is derived from or connected with the Indian country your tribe. Enter the words "Mashantucket Puquot Tribe enrolled member" or "Mohegan Tribe enrolled member," as the case may be.
  2. 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.
  3. 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, and is attributable to a trade or business of that individual.
  4. 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, and are attributable to a trade or business of that individual.
  5. 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.
  6. 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.
  7. 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. This modification includes any Build America Bond tax credit amount if the Build America Bond, as described in Section 1531 of the American Recovery and Reinvestment Act of 2009 was issued by the State of Connecticut or a Connecticut subdivision and only to the extent the credit amount is treated as interest includible in gross income for federal income tax purposes.
  8. 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, dividends, or capital gains are included in the gross income of the designated beneficiary for federal income tax purposes.
  9. Subtract any contributions made to a manufacturing reinvestment account (MRA).
  10. 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 2016, 2017, and 2018 taxable years.
  11. Subtract the amount, to the extent included in federal AGI, of any financial assistance received from the Crumbling Foundations Assistance Fund; paid to or on behalf of the taxpayer under the Collapsing Foundations Credit Enhancements Program; or financial assistance received from a municipality by the taxpayer to repair concrete foundations that have deteriorated due to the presence of pyrrhotite.
  12. Subtract certain costs incurred by the taxpayer in connection with the donation to another person of human bone marrow, or all or part of a human liver, pancreas, kidney, intestine, or lung, for the purpose of organ transplantation. The costs include lost wages, medical expenses, travel expenses, and housing expenses. The subtraction can't exceed $10,000.
  13. Subtract the Bioscience Venture Capital amount as calculated on Schedule CT-BIO, Bioscience Worksheet.

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