Figure your total income for the period, minus your adjustments to income for the period. Include your share of partnership or S corporation income or loss items for the period. If you are self-employed, be sure to take into account the deduction for one-half of your self-employment tax. To figure this amount for each period, complete federal Form 2210, Part II of Schedule AI and divide the amount in each column on line 34 by 8, 4.8, 3, and 2, respectively.
Estates and trusts, do not use amounts shown in columns (a)-(d). Instead, use 6, 3, 1.71429, and 1.09091, respectively, as the annualization amounts.
Nonresidents and part-year residents, enter the amount of your standard deduction multiplied by the ratio of your Hawaii adjusted gross income to total adjusted gross income from all sources.
Nonresidents and part-year residents, enter the amount of your personal exemptions multiplied by the ratio of your Hawaii adjusted gross income to total adjusted gross income from all sources.
Enter all of the additional taxes you owed because of events that occurred during the months shown in the column headings. Include the following:
- Form N-2, Individual Housing Account
- Form N-103, Sale of Your Home
- Form N-152, Tax on Lump Sum Distributions
- Form N-312, Capital Goods Excise Tax Credit Recapture
- Form N-318, High Technology Business Investment Tax Credit Recapture
- Form N-405, Tax on Accumulation Distribution of Trusts
- Form N-586, Credit for Low Income Housing Recapture
- Form N-814, Parents Election to Report Childs Interest and Dividends
Enter the credits you are entitled to because of events that occurred during the months shown in the column headingsDo not annualize any credit. However, when figuring your credits, you must annualize any item of income or deduction used to figure the credit. For details, see federal Revenue Ruling 79-179, 1979-1 C.B. 436.
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