Schedule K - Partner's Shares of Income, Credits,
Deductions, Etc.
|
Income (Loss) |
2 |
Net income (loss) from rental
& real estate
activities |
|
|
Part of line 2 for SE worksheet, line 1b |
|
3a |
Gross income - other rental activities
|
|
b |
Less expenses (attach schedule) |
|
4 |
Portfolio income (loss): |
(a) interest income |
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|
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(b) dividend income |
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|
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(c) royalty income |
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|
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(d) net S/T capital gain (loss) |
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|
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(e) net L/T capital gain (loss) for 1 yr |
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|
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28% rate gain (loss) |
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|
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Qualified 5-yr gain |
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|
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(f) other portfolio income (loss) |
|
5 |
Guaranteed payments to partners |
|
6 |
Net gain (loss) under section 1231 (not
casualty or theft) |
|
7 |
Other income: |
|
|
Other income (loss) (attach schedule) |
|
|
Section 1202 gain |
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Deductions |
8 |
Charitable contributions (attach list) |
|
9 |
Section 179 expense deduction
|
|
10 |
Deductions related to portfolio income
|
|
11 |
Other deductions: |
From casualty and theft |
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|
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Penalty - early withdrawal of savings |
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|
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Soil and water conservation |
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|
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Elderly and handicapped barrier removal |
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Depreciation (carries from asset mgr) |
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Other deductions (attach schedule) |
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Auto Expenses |
|
Credits |
12a |
(1) From partnerships to which section
42(j)(5) applies |
|
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(2) Other than on line 12a(1) |
|
b |
Qualified rehabilitation expenditures related
to rental real estate activities |
|
c |
Credit related to rental real estate (not
included above) |
|
d |
Credit related to other rental activities
|
|
13 |
Other credits:
|
Disabled access credit
|
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|
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Work opportunity credit |
|
|
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Welfare-to-Work credit |
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Non-conventional source fuel credit |
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Other investment credits (Form 3468) |
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|
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Orphan drug research |
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Other credits (attach schedule) |
|
Investment
Interest |
14a |
Interest expense on investment debts |
|
b |
(1) Investment income included in lines 4a, b,
c, and f |
|
|
(2) Investment expense included in line 10 |
|
Self-Employment |
15 |
Suppress self employment tax |
Yes |
a |
Net earning (loss) from self-employment |
|
b |
Gross farming or fishing income |
|
c |
Gross non-farm income |
|
Tax
Preference Items |
16a |
Depreciation adjustment on property in service
after 1986 |
|
b |
Adjusted gain or loss |
|
c |
Depletion (other than oil and gas)
|
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d |
(1) Gross income from oil, gas, and geothermal
property |
|
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(2) Deductions allocable to oil, gas and
geothermal property |
|
e |
Other adjustments and tax preference items
(attach schedule) |
|
Foreign Taxes |
17a |
Foreign country or US possession
|
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b |
Gross income from all sources |
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c |
Total gross income sourced at partner level |
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d |
Foreign total gross income sourced at
partnership level |
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1 Passive
|
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2 Listed categories (attach schedule) |
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3 General limitations |
|
e |
Deductions allocated and apportioned at
partner level |
|
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1 Interest expense |
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2 Other |
|
f |
Deductions allocated and apportioned at
partnership level to foreign source income |
|
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1 Passive
|
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2 Listed categories (attach schedule) |
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3 General limitations
|
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g |
Total foreign taxes |
|
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Foreign taxes accrued (paid is automatic)
|
Yes |
h |
Reduction in taxes available for credit |
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Other |
18a |
Type of sec 59(e)(2) expenditures
Amount |
|
19 |
Tax-exempt interest income |
|
20 |
Other tax-exempt income |
|
21 |
Non-deductible expenses: |
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Disallowed portion of meals and entertainment
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Key Man Life Insurance |
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Expenses directly related to tax exempt income |
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Other nondeductible expenses |
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22 |
Distributions of money (Cash and marketable
securities) |
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23 |
Distributions of property other than money |
|
24 |
Other items and amounts required to be
reported separately to |
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partners. Enter amounts on Universal K-1 input screen |
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Go to
Schedule M-1 |
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