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Category: Delaware

Delaware Additions to Income

Interest on State and Local Obligations other than Delaware

Interest you received from any obligations of States other than Delaware or their political subdivisions, is taxable to Delaware and must be added on Line 30. Examples of interest that is taxable:

  • Interest received on Pennsylvania Turnpike Bonds.
  • Mutual fund dividends not included on Line 29 that are attributable to interest on state or local obligations (minus those attributable to the State of Delaware and its authorities and political subdivisions-provided the mutual fund reports that amount to you in writing).

Fiduciary Adjustments, Oil Percentage Depletion

  • Fiduciary Adjustments - Net additions from fiduciary adjustments derived from income received from an estate or trust as shown on Federal Form K-1, Beneficiary's Share of Federal Income and Deductions, should be included on Line 31.
  • Oil Percentage Depletion - The law provides for the disallowance of any percentage depletion deduction allowable under federal law, to the extent it is in excess of cost depletion. Add the excess to the amount of fiduciary adjustments and enter the total on Line 31.

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