Arizona Department of RevenuePub 570September 2020Arizona Department of RevenueazdorgovRevised Sept 2020Arizona Form 338 and includes the form with the 338P for each partner receiving a passthrough ID: 893873
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1 businesses. For complete details, refer
businesses. For complete details, refer to the Arizona Revised Statute (A.R.S.) § 43-1074.02. In case of inconsistency or omission in this publication, the language of the Arizona Revised Statutes will prevail.A taxpayer that has invested in qualified small Arizona Department of RevenuePub 570September 2020 Arizona Department of Revenue azdor.gov Revised: Sept. 2020 Arizona Form 338 and includes the form with the 338-P for each partner receiving a pass-through Include a copy of all forms with the partnership shareholders must complete Form 338 and Form 338-S for each shareholder receiving a pass-through credit when filed. Include a copy of all Can an investor sub
2 tract the amount of any net capital gain
tract the amount of any net capital gain from the investment that is included in federal adjusted gross income for Yes, an individual may subtract from the investor’s Arizona gross income the amount of any net capital gain included in the federal adjusted gross income for the tax year that is subtraction for the amount of any net capital gain derived from an investment made No, if the taxpayer takes the allowable subtraction from Arizona gross income for the net capital business included in the federal adjusted gross income for the taxable year, the taxpayer cannot long-term capital gain from the sale of the same which the taxpayer has claimed a credit shall b