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Shareholder's Instructions
for Schedule K-1
(Form 1120S)
Department of the Treasury
Internal Revenue Service
Shareholder's Share of Income, Deductions, Credits, etc.
(For Shareholder's Use Only)
Section references are to the Internal
Revenue Code unless otherwise noted.
1099-DIV, Dividends and
Distributions.
must file Form 5713, International
Boycott Report.
Future Developments
Inconsistent Treatment of
Items
If the corporation cooperated with
an international boycott, it must give
you a copy of its Form 5713. You must
file your own Form 5713 to report the
corporation's activities and any other
boycott operations that you may have.
You may lose certain tax benefits if
the corporation participated in, or
cooperated with, an international
boycott. See Form 5713 and its
instructions for details.
For the latest information about
developments related to
Schedule K-1 (Form 1120S) and its
instructions, such as legislation
enacted after they were published, go
to www.irs.gov/form1120s.
General Instructions
Purpose of Schedule K-1
The corporation uses Schedule K-1 to
report your share of the corporation's
income (reduced by any tax the
corporation paid on the income),
deductions, credits, etc. Keep it for
your records. Do not file it with your
tax return unless backup withholding
is reported in box 13 using code O.
The corporation has filed a copy with
the IRS.
You are liable for tax on your share
of the corporation's income, whether
or not distributed. Include your share
on your tax return if a return is
required. Use these instructions to
help you report the items shown on
Schedule K-1 on your tax return.
Your share of S corporation income
is not self-employment income and it
is not subject to self-employment tax.
The amount of loss and deduction
you may claim on your tax return may
be less than the amount reported on
Schedule K-1. It is the shareholder's
responsibility to consider and apply
any applicable limitations. See
Limitations on Losses, Deductions,
and Credits, later, for more
information.
Schedule K-1 does not show actual
dividend distributions the corporation
made to you. The corporation must
report such amounts totaling $10 or
more for the calendar year on Form
Jan 30, 2013
Generally, you must report corporate
items shown on your Schedule K-1
(and any attached statements) the
same way that the corporation treated
the items on its return.
If the treatment on your original or
amended return is inconsistent with
the corporation's treatment, or if the
corporation has not filed a return, file
Form 8082, Notice of Inconsistent
Treatment or Administrative
Adjustment Request (AAR), with your
original or amended return to identify
and explain any inconsistency (or to
note that a corporate return has not
been filed).
If you are required to file Form 8082
but do not do so, you may be subject
to the accuracy-related penalty. This
penalty is in addition to any tax that
results from making your amount or
treatment of the item consistent with
that shown on the corporation's
return. Any deficiency that results
from making the amounts consistent
may be assessed immediately.
Errors
If you believe the corporation has
made an error on your Schedule K-1,
notify the corporation and ask for a
corrected Schedule K-1. Do not
change any items on your copy of
Schedule K-1. Be sure that the
corporation sends a copy of the
corrected Schedule K-1 to the IRS. If
you are unable to reach agreement
with the corporation regarding the
inconsistency, file Form 8082.
International Boycotts
Every corporation that had operations
in, or related to, a boycotting country,
company, or a national of a country
Cat. No. 11521O
Elections
Generally, the corporation decides
how to figure taxable income from its
operations. However, certain
elections are made by you separately
on your income tax return and not by
the corporation. These elections are
made under the following code
sections.
Section 59(e) (deduction of certain
qualified expenditures ratably over the
period of time specified in that
section). For details, see the
instructions for code J in box 12.
Section 263A(d) (preproductive
expenses). See the instructions for
code M in box 12.
Section 617 (deduction and
recapture of certain mining
exploration expenditures).
Section 901 (foreign tax credit).
Additional Information
For more information on the treatment
of S corporation income, deductions,
credits, etc., see Pub. 535, Business
Expenses; Pub. 550, Investment
Income and Expenses; and Pub. 925,
Passive Activity and At-Risk Rules.
To get forms and publications, see
the instructions for your tax return or
visit the IRS website at IRS.gov.
Limitations on Losses,
Deductions, and Credits
There are three potential limitations
on corporate losses that you can
deduct on your return. These
limitations and the order in which you
must apply them are as follows: the
basis rules, the at-risk limitations, and
the passive activity limitations. These
limitations are discussed below.
Other limitations may apply to
specific deductions (for example, the
section 179 expense deduction).
Generally, specific limitations apply
before the basis, at-risk, and passive
loss limitations.
Basis Rules
Generally, the deduction for your
share of aggregate losses and
deductions reported on Schedule K-1
is limited to the basis of your stock
(determined with regard to
distributions received during the tax
year) and loans from you to the
corporation. For details and
exceptions, see section 1366(d). The
basis of your stock is generally figured
at the end of the corporation's tax
year. Any losses and deductions not
allowed this year because of the basis
limit can be carried forward
indefinitely and deducted in a later
year subject to the basis limit for that
year.
You are responsible for keeping the
information needed to figure the basis
of your stock in the corporation.
Schedule K-1 provides information to
help you figure your stock basis at the
end of each corporate tax year. The
basis of your stock (generally, its cost)
is adjusted as follows and, except as
noted, in the order listed. In addition,
basis may be adjusted under other
provisions of the Internal Revenue
Code. You can generally use the
Worksheet for Figuring a
Shareholder's Stock Basis to figure
your aggregate stock basis.
1. Basis is increased by (a) all
income (including tax-exempt income)
reported on Schedule K-1 and (b) the
excess of the deduction for depletion
(other than oil and gas depletion) over
the basis of the property subject to
depletion.
You must report on your
return (if you are required to
CAUTION
file one) any amount required
to be included in gross income for it to
increase your basis.
!
Basis is not increased by
income from discharge of
CAUTION
your indebtedness in the S
corporation (nor by any amount
included in income with respect to
clean renewable energy, Midwestern
tax credit, or (for bonds issued before
October 4, 2008) qualified zone
academy bonds).
!
2. Basis is decreased by (a)
property distributions (including cash)
made by the corporation reported on
Schedule K-1, box 16, code D, minus
(b) the amount of such distributions in
excess of the basis in your stock.
3. Basis is decreased by (a)
nondeductible expenses and (b) the
depletion deduction for any oil and
gas property held by the corporation,
but only to the extent your share of the
property's adjusted basis exceeds
that deduction.
4. Basis is decreased by all
deductible losses and deductions
reported on Schedule K-1 adjusted, if
the corporation made a charitable
contribution of property, by
subtracting your share of the
property's fair market value and
adding your share of the property's
adjusted basis.
Worksheet for Figuring a Shareholder's
Stock Basis
Keep for Your Records
1. Your stock basis at the beginning of the year . . . . . . . . . . . . . . . .
1.
Increases:
2. Money and your adjusted basis in property contributed to the
corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Your share of the corporation's income (including tax-exempt
income) reduced by any amount included in income with respect to
clean renewable energy, Midwestern tax credit, or (for bonds
issued before October 4, 2008) qualified zone academy
bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
4. Other increases to basis, including your share of the excess of the
deductions for depletion (other than oil and gas depletion) over the
basis of the property subject to depletion . . . . . . . . . . . . . . . . . .
4.
Decreases:
5. Distributions of money and the fair market value of property
(excluding dividend distributions reportable on Form 1099-DIV and
distributions in excess of basis (the sum of lines 1 through
4)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
(
)
6. Enter: (a) your share of the corporation's nondeductible expenses
and the depletion deduction for any oil and gas property held by
the corporation (but only to the extent your share of the property's
adjusted basis exceeds the depletion deduction) or (b) if the
election under Regulations section 1.1367-1(g) applies, your share
of the corporation's deductions and losses (include your entire
share of the section 179 expense deduction even if your allowable
section 179 expense deduction is smaller) adjusted, if the
corporation made a charitable contribution of property as
described in (4) under Basis Rules . . . . . . . . . . . . . . . . . . . . . . .
6.
(
)
7. If the election under Regulations section 1.1367-1(g) applies, enter
the amount from 6(a) above. Otherwise enter the amount from
6(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
(
)
8. Enter the smaller of (a) the excess, as of the beginning of the tax
year, of the amount you are owed for loans you made to the
corporation over your basis in those loans or (b) the sum of lines 1
through 7. This amount increases your loan basis . . . . . . . . . . . .
8.
(
)
9. Your stock basis in the corporation at the end of the year. Combine
lines 1 through 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
-2-
Instructions for Schedule K-1 (Form 1120S)
You may elect to decrease your
basis under (4) prior to decreasing
your basis under (3). If you make this
election, any amount described under
(3) that exceeds the basis of your
stock and debt owed to you by the
corporation is treated as an amount
described under (3) for the following
tax year.
To make the election, attach a
statement to your timely filed original
or amended return that states you
agree to the carryover rule of
Regulations section 1.1367-1(g) and
the name of the S corporation to
which the rule applies. Once made,
the election applies to the year for
which it is made and all future tax
years for that S corporation, unless
the IRS agrees to revoke your
election.
The basis of each share of stock is
increased or decreased (but not
below zero) based on its pro rata
share of the above adjustments. If the
total decreases in basis attributable to
a share exceed that share's basis, the
excess reduces (but not below zero)
the remaining bases of all other
shares of stock in proportion to the
remaining basis of each of those
shares.
Basis of loans. The basis of your
loans to the corporation is generally
the balance the corporation owes you,
adjusted for any reductions and
restorations of loan basis (see the
instructions for box 16, code E). Any
amounts described in (3) and (4),
earlier, not used to offset amounts in
(1), earlier, or reduce your stock
basis, are used to reduce your loan
basis (to the extent of such basis prior
to such reduction).
When determining your basis
in loans to the corporation,
CAUTION
remember that:
Distributions do not reduce loan
basis, and
Loans that a shareholder
guarantees or co-signs are not part of
a shareholder's loan basis.
!
See section 1367 and its
regulations for more details.
Worksheet instructions. For lines 6
and 7, do not enter more than the
aggregate sum of the preceding lines.
Any excess of the amounts that would
otherwise be entered on lines 6 and 7
without regard to this limit over the
amounts actually entered on those
lines is a reduction to your basis, if
any, in loans you made to the
corporation (to the extent of such
basis). Any portion of the excess not
used to reduce your basis in stock
and loans is not deductible in the
current year and is carried over to
next year and subject to that year's
basis limit. See the preceding
instructions for more details.
At-Risk Limitations
Generally, you will have to complete
Form 6198, At-Risk Limitations, to
figure your allowable loss, if you have:
A loss or other deduction from any
activity carried on by the corporation
as a trade or business or for the
production of income, and
Amounts in the activity for which
you are not at risk.
The at-risk rules generally limit the
amount of loss and other deductions
that you can claim to the amount you
could actually lose (your economic
loss) in the activity. These losses and
deductions include a loss on the
disposition of assets and the section
179 expense deduction. However, if
you acquired your stock before 1987,
the at-risk rules do not apply to losses
from an activity of holding real
property placed in service before
1987 by the corporation. The activity
of holding mineral property does not
qualify for this exception. The
corporation should identify on a
statement attached to Schedule K-1
any losses that are not subject to the
at-risk limitations.
Generally, you are not at risk for
amounts such as the following.
The basis of your stock in the
corporation or the basis of your loans
to the corporation if the cash or other
property used to purchase the stock
or make the loans was from a source
(a) covered by nonrecourse
indebtedness (except for certain
qualified nonrecourse financing, as
defined in section 465(b)(6)); (b)
protected against loss by a guarantee,
stop-loss agreement, or other similar
arrangement; or (c) that is covered by
indebtedness from a person who has
an interest in the activity or from a
person related to a person (except
you) having such an interest, other
than a creditor.
Any cash or property contributed to
a corporate activity, or your interest in
the corporate activity, that is (a)
Instructions for Schedule K-1 (Form 1120S)
-3-
covered by nonrecourse
indebtedness (except for certain
qualified nonrecourse financing, as
defined in section 465(b)(6)); (b)
protected against loss by a guarantee,
stop-loss agreement, or other similar
arrangement; or (c) that is covered by
indebtedness from a person who has
an interest in the activity or from a
person related to a person (except
you) having such an interest, other
than a creditor.
Any loss from a section 465 activity
not allowed for this tax year will be
treated as a deduction allocable to the
activity in the next tax year.
You should get a separate
statement of income, expenses, etc.,
for each activity from the corporation.
Passive Activity Limitations
Section 469 provides rules that limit
the deduction of certain losses and
credits. These rules apply to
shareholders who:
Are individuals, estates, or trusts,
and
Have a passive activity loss or
credit for the tax year.
Generally, passive activities
include:
1. Trade or business activities in
which you did not materially
participate and
2. Activities that meet the
definition of rental activities under
Temporary Regulations section
1.469-1T(e)(3) and Regulations
section 1.469-1(e)(3).
Passive activities do not include:
1. Trade or business activities in
which you materially participated.
2. Rental real estate activities in
which you materially participated if
you were a real estate professional
for the tax year. You were a real
estate professional only if you met
both of the following conditions.
a. More than half of the personal
services you performed in trades or
businesses were performed in real
property trades or businesses in
which you materially participated and
b. You performed more than 750
hours of services in real property
trades or businesses in which you
materially participated.
For purposes of this rule, each
interest in rental real estate is a
separate activity, unless you elect to
treat all interests in rental real estate
as one activity. For details on making
this election, see the Instructions for
Schedule E (Form 1040).
If you are married filing jointly,
either you or your spouse must
separately meet both of the above
conditions, without taking into account
services performed by the other
spouse.
A real property trade or business is
any real property development,
redevelopment, construction,
reconstruction, acquisition,
conversion, rental, operation,
management, leasing, or brokerage
trade or business. Services you
performed as an employee are not
treated as performed in a real
property trade or business unless you
owned more than 5% of the stock (or
more than 5% of the capital or profits
interest) in the employer.
3. The rental of a dwelling unit any
shareholder used for personal
purposes during the year for more
than the greater of 14 days or 10% of
the number of days that the residence
was rented at fair rental value.
4. Activities of trading personal
property for the account of owners of
interests in the activities.
If you have a passive activity loss
or credit, use Form 8582, Passive
Activity Loss Limitations, to figure your
allowable passive losses and Form
8582-CR, Passive Activity Credit
Limitations, to figure your allowable
passive credits. See the instructions
for these forms for details.
If the corporation had more than
one activity, it will attach a statement
to your Schedule K-1 that identifies
each activity (trade or business
activity, rental real estate activity,
rental activity other than rental real
estate, etc.) and specifies the income
(loss), deductions, and credits from
each activity.
Material participation. You must
determine if you materially
participated (a) in each trade or
business activity held through the
corporation and (b) if you were a real
estate professional (defined earlier),
in each rental real estate activity held
through the corporation. All
determinations of material
participation are based on your
participation during the corporation's
tax year.
Material participation standards for
shareholders who are individuals are
listed below. Special rules apply to
certain retired or disabled farmers and
to the surviving spouses of farmers.
See the Instructions for Form 8582 for
details.
Individuals. If you are an
individual, you materially participated
in an activity only if one or more of the
following apply.
1. You participated in the activity
for more than 500 hours during the tax
year.
2. Your participation in the activity
for the tax year constituted
substantially all the participation in the
activity of all individuals (including
individuals who are not owners of
interests in the activity).
3. You participated in the activity
for more than 100 hours during the tax
year, and your participation in the
activity for the tax year was not less
than the participation in the activity of
any other individual (including
individuals who were not owners of
interests in the activity) for the tax
year.
4. The activity was a significant
participation activity for the tax year,
and you participated in all significant
participation activities (including
activities outside the corporation)
during the year for more than 500
hours. A significant participation
activity is any trade or business
activity in which you participated for
more than 100 hours during the year
and in which you did not materially
participate under any of the material
participation tests (other than this
test).
5. You materially participated in
the activity for any 5 tax years
(whether or not consecutive) during
the 10 tax years that immediately
precede the tax year.
6. The activity was a personal
service activity and you materially
participated in the activity for any 3 tax
years (whether or not consecutive)
preceding the tax year. A personal
service activity involves the
performance of personal services in
the fields of health, law, engineering,
architecture, accounting, actuarial
science, performing arts, consulting,
or any other trade or business in
which capital is not a material
income-producing factor.
-4-
7. Based on all the facts and
circumstances, you participated in the
activity on a regular, continuous, and
substantial basis during the tax year.
Work counted toward material
participation. Generally, any work
that you or your spouse does in
connection with an activity held
through an S corporation (where you
own your stock at the time the work is
done) is counted toward material
participation. However, work in
connection with the activity is not
counted toward material participation
if either of the following applies.
1. The work is not the type of work
that owners of the activity would
usually do and one of the principal
purposes of the work that you or your
spouse does is to avoid the passive
loss or credit limitations.
2. You do the work in your
capacity as an investor and you are
not directly involved in the day-to-day
operations of the activity. Examples of
work done as an investor that would
not count toward material participation
include:
a. Studying and reviewing
financial statements or reports on
operations of the activity,
b. Preparing or compiling
summaries or analyses of the
finances or operations of the activity
for your own use, and
c. Monitoring the finances or
operations of the activity in a
nonmanagerial capacity.
Effect of determination. Income
(loss), deductions, and credits from
an activity are nonpassive if you
determine that:
You materially participated in a
trade or business activity of the
corporation, or
You were a real estate professional
(defined earlier) in a rental real estate
activity of the corporation.
If you determine that you did not
materially participate in a trade or
business activity of the corporation or
if you have income (loss), deductions,
or credits from a rental activity of the
corporation (other than a rental real
estate activity in which you materially
participated as a real estate
professional), the amounts from that
activity are passive. Report passive
income (losses), deductions, and
credits as follows.
Instructions for Schedule K-1 (Form 1120S)
1. If you have an overall gain (the
excess of income over deductions
and losses, including any prior year
unallowed loss) from a passive
activity, report the income,
deductions, and losses from the
activity as indicated in these
instructions.
2. If you have an overall loss (the
excess of deductions and losses,
including any prior year unallowed
loss, over income) or credits from a
passive activity, report the income,
deductions, losses, and credits from
all passive activities using the
Instructions for Form 8582 or Form
8582-CR, to see if your deductions,
losses, and credits are limited under
the passive activity rules.
Special allowance for a rental real
estate activity. If you actively
participated in a rental real estate
activity, you may be able to deduct up
to $25,000 of the loss (or credit
equivalent to a $25,000 deduction)
from the activity from nonpassive
income. This “special allowance” is an
exception to the general rule
disallowing losses in excess of
income from passive activities. The
special allowance is not available if
you were married, file a separate
return for the year, and did not live
apart from your spouse at all times
during the year.
Only individuals can actively
participate in a rental real estate
activity. However, a decedent's estate
(including a qualified revocable trust
for which a section 645 election has
been made) is treated as actively
participating for its tax years ending
less than 2 years after the decedent's
death, if the decedent would have
satisfied the active participation
requirement for the activity for the tax
year the decedent died.
You are not considered to actively
participate in a rental real estate
activity if, at any time during the tax
year, your interest (including your
spouse's interest) in the activity was
less than 10% (by value) of all
interests in the activity.
Active participation is a less
stringent requirement than material
participation. You may be treated as
actively participating if you
participated, for example, in making
management decisions or arranging
for others to provide services (such as
repairs) in a significant and bona fide
sense. Management decisions that
can count as active participation
include approving new tenants,
deciding rental terms, approving
capital or repair expenditures, and
other similar decisions.
The exclusion from income of
interest from Series EE or I U.S.
Savings Bonds used to pay higher
education expenses.
The exclusion of amounts received
under an employer's adoption
assistance program.
Modified adjusted gross income
limitation. The maximum special
allowance that single individuals and
married individuals filing a joint return
can qualify for is $25,000. The
maximum is $12,500 for married
individuals who file separate returns
and who lived apart at all times during
the year. The maximum special
allowance for which an estate can
qualify is $25,000 reduced by the
special allowance for which the
surviving spouse qualifies.
If your modified adjusted gross
income (defined below) is $100,000
or less ($50,000 or less if married
filing separately), your loss is
deductible up to the maximum special
allowance referred to in the preceding
paragraph. If your modified adjusted
gross income is more than $100,000
(more than $50,000 if married filing
separately), the special allowance is
limited to 50% of the difference
between $150,000 ($75,000 if married
filing separately) and your modified
adjusted gross income. When
modified adjusted gross income is
$150,000 or more ($75,000 or more if
married filing separately), there is no
special allowance.
Modified adjusted gross income is
your adjusted gross income figured
without taking into account the
following amounts, if applicable.
Any passive activity loss.
Any rental real estate loss allowed
under section 469(c)(7) to real estate
professionals (defined earlier).
Any overall loss from a
publicly-traded partnership.
Any taxable social security or
equivalent railroad retirement
benefits.
Any deductible contributions to an
IRA or certain other qualified
retirement plans under section 219.
The domestic production activities
deduction.
The student loan interest
deduction.
The tuition and fees deduction.
The deductible part of
self-employment taxes.
Commercial revitalization
deduction. The special $25,000
allowance for the commercial
revitalization deduction from rental
real estate activities is not subject to
the active participation rules or
modified adjusted gross income limits
discussed above. See the instructions
for box 12, code N for more
information.
Instructions for Schedule K-1 (Form 1120S)
-5-
Special rules for certain other activities. If you have net income
(loss), deductions, or credits from any
activity to which special rules apply,
the corporation will identify the activity
and all amounts relating to it on
Schedule K-1 or on an attached
statement.
If you have net income subject to
recharacterization under Temporary
Regulations section 1.469-2T(f) and
Regulations section 1.469-2(f), report
such amounts according to the
Instructions for Form 8582.
If you have net income (loss),
deductions, or credits from either of
the following activities, treat such
amounts as nonpassive and report
them as indicated in these
instructions.
1. The rental of a dwelling unit any
shareholder used for personal
purposes during the year for more
than the greater of 14 days or 10% of
the number of days that the residence
was rented at fair rental value.
2. Trading personal property for
the account of owners of interests in
the activity.
Self-charged interest. The
corporation will report any
“self-charged” interest income or
expense that resulted from loans
between you and the corporation (or
between the corporation and another
S corporation or partnership if both
entities have the same owners with
the same proportional interest in each
entity). If there was more than one
activity, the corporation will provide a
statement allocating the interest
income or expense with respect to
each activity. The self-charged
interest rules do not apply to your
interest in the S corporation if the
corporation made an election under
Regulations section 1.469-7(g) to
avoid the application of these rules.
See the Instructions for Form 8582 for
details.
Specific Instructions
Part III. Shareholder's
Share of Current Year
Income, Deductions,
Credits, and Other Items
The amounts shown in boxes 1
through 17 reflect your share of
income, loss, deductions, credits,
etc., from corporate business or rental
activities without reference to
limitations on losses, credits, or other
items that may have to be adjusted
because of:
1. The adjusted basis of your
stock and debt in the corporation,
2. The at-risk limitations,
3. The passive activity limitations,
or
4. Any other limitations that must
be taken into account at the
shareholder level in figuring taxable
income (for example, the section 179
expense limitation).
For information on these
provisions, see Limitations on Losses,
Deductions, and Credits, earlier.
If you are an individual, and the
above limitations do not apply to the
amounts shown on your
Schedule K-1, take the amounts
shown and report them on the lines of
your tax return as indicated in the
summarized reporting information
shown on page 2 of the Schedule K-1.
If any of the above limitations apply,
adjust the amounts on Schedule K-1
before you report them on your return.
When applicable, the passive
activity limitations on losses are
applied after the limitations on losses
for a shareholder's basis in stock and
debt and the shareholder's at-risk
amount.
The line numbers in the
summarized reporting information on
page 2 of Schedule K-1 are
references to forms in use for
calendar year 2012. If you file your tax
return on a calendar year basis, but
the corporation files a return for a
fiscal year, report the amounts on your
tax return for the year in which the
corporation's fiscal year ends. For
example, if the corporation's tax year
ends in February 2013, report the
amounts on your 2013 tax return.
If you have losses, deductions, or
credits from a prior year that were not
deductible or usable because of
certain limitations, such as the basis
rules or the at-risk limitations, take
them into account in determining your
income, loss, or credits for this year.
However, except for passive activity
losses and credits, do not combine
the prior-year amounts with any
amounts shown on this Schedule K-1
to get a net figure to report on your
return. Instead, report the amounts on
your return on a year-by-year basis.
If you have amounts other
than those shown on
CAUTION
Schedule K-1 to report on
Schedule E (Form 1040), enter each
item separately on line 28 of
Schedule E (Form 1040).
!
Codes. In box 10 and boxes 12
through 17, the corporation will
identify each item by entering a code
in the column to the left of the dollar
amount entry space. These codes are
identified on page 2 of Schedule K-1
and in these instructions.
Attached statements. The
corporation will enter an asterisk (*)
after the code, if any, in the column to
the left of the dollar amount entry
space for each item for which it has
attached a statement providing
additional information. For those
informational items that cannot be
reported as a single dollar amount,
the corporation will enter an asterisk in
the left column and enter “STMT” in
the dollar amount entry space to
indicate the information is provided on
an attached statement.
Income (Loss)
Box 1. Ordinary Business
Income (Loss)
The amount reported in box 1 is your
share of the ordinary income (loss)
from trade or business activities of the
corporation. Generally, where you
report this amount on Form 1040
depends on whether the amount is
from an activity that is a passive
activity to you. If you are an individual
shareholder filing a 2012 Form 1040,
-6-
find your situation below and report
your box 1 income (loss) as instructed
after applying the basis and at-risk
limitations on losses. If the corporation
had more than one trade or business
activity, it will attach a statement
identifying the income or loss from
each activity.
1. Report box 1 income (loss) from
corporate trade or business activities
in which you materially participated on
Schedule E (Form 1040), line 28,
column (h) or (j).
2. Report box 1 income (loss) from
corporate trade or business activities
in which you did not materially
participate, as follows.
a. If income is reported in box 1,
report the income on Schedule E
(Form 1040), line 28, column (g).
b. If a loss is reported in box 1,
follow the Instructions for Form 8582
to figure how much of the loss can be
reported on Schedule E (Form 1040),
line 28, column (f).
Box 2. Net Rental Real Estate
Income (Loss)
Generally, the income (loss) reported
in box 2 is a passive activity amount
for all shareholders. However, the
income (loss) in box 2 is not from a
passive activity if you were a real
estate professional (defined earlier)
and you materially participated in the
activity. If the corporation had more
than one rental real estate activity, it
will attach a statement identifying the
income or loss from each activity.
If you are filing a 2012 Form 1040,
use the following instructions to
determine where to report a box 2
amount.
1. If you have a loss from a
passive activity in box 2 and you meet
all the following conditions, report the
loss on Schedule E (Form 1040),
line 28, column (f).
a. You actively participated in the
corporate rental real estate activities.
See Special allowance for a rental real
estate activity under Passive Activity
Limitations, earlier.
b. Rental real estate activities with
active participation were your only
passive activities.
c. You have no prior year
unallowed losses from these
activities.
d. Your total loss from the rental
real estate activities was not more
Instructions for Schedule K-1 (Form 1120S)
than $25,000 (not more than $12,500
if married filing separately and you
lived apart from your spouse all year).
e. If you are a married person filing
separately, you lived apart from your
spouse all year.
f. You have no current or prior
year unallowed credits from a passive
activity.
g. Your modified adjusted gross
income was not more than $100,000
(not more than $50,000 if married
filing separately and you lived apart
from your spouse all year).
2. If you have a loss from a
passive activity in box 2 and you do
not meet all the conditions in (1)
above, follow the Instructions for Form
8582 to figure how much of the loss
you can report on Schedule E (Form
1040), line 28, column (f).
3. If you were a real estate
professional and you materially
participated in the activity, report
box 2 income (loss) on Schedule E
(Form 1040), line 28, column (h) or (j).
4. If you have income from a
passive activity in box 2, report the
income on Schedule E (Form 1040),
line 28, column (g).
Box 3. Other Net Rental Income
(Loss)
The amount in box 3 is a passive
activity amount for all shareholders. If
the corporation had more than one
rental activity, it will attach a statement
identifying the income or loss from
each activity. Report the income or
loss as follows.
1. If box 3 is a loss, follow the
Instructions for Form 8582 to figure
how much of the loss can be reported
on Schedule E (Form 1040), line 28,
column (f).
2. If income is reported in box 3,
report the income on Schedule E
(Form 1040), line 28, column (g).
Portfolio Income
Portfolio income or loss (shown in
boxes 4 through 8b and in box 10,
code A) is not subject to the passive
activity limitations. Portfolio income
includes income (not derived in the
ordinary course of a trade or
business) from interest, ordinary
dividends, annuities, or royalties, and
gain or loss on the sale of property
that produces such income or is held
for investment.
Box 4. Interest Income
Report interest income on line 8a of
Form 1040.
Box 5a. Ordinary Dividends
Report ordinary dividends on line 9a
of Form 1040.
Box 5b. Qualified Dividends
Report any qualified dividends on
line 9b of Form 1040.
Note. Qualified dividends are
excluded from investment income, but
you may elect to include part or all of
these amounts in investment income.
See the instructions for line 4g of
Form 4952, Investment Interest
Expense Deduction, for important
information on making this election.
!
CAUTION
box 14.
If you have any foreign
source qualified dividends,
see the instructions for
Box 6. Royalties
Report royalties on Schedule E (Form
1040), line 4.
Box 7. Net Short-Term Capital
Gain (Loss)
Report the net short-term capital gain
(loss) on Schedule D (Form 1040),
line 5.
Box 8a. Net Long-Term Capital
Gain (Loss)
Report the net long-term capital gain
(loss) on Schedule D (Form 1040),
line 12.
If you have any foreign
source net long-term capital
CAUTION
gain (loss), see the
instructions for box 14.
!
Box 8b. Collectibles (28%) Gain
(Loss)
Report collectibles gain or loss on
line 4 of the 28% Rate Gain
Worksheet—Line 18 in the
Instructions for Schedule D (Form
1040).
Box 8c. Unrecaptured Section
1250 Gain
There are three types of unrecaptured
section 1250 gain. Report your share
of this unrecaptured gain on the
Unrecaptured Section 1250 Gain
Worksheet—Line 19 in the
Instructions for Schedule D (Form
1040) as follows.
Instructions for Schedule K-1 (Form 1120S)
-7-
Report unrecaptured section 1250
gain from the sale or exchange of the
corporation's business assets on
line 5.
Report unrecaptured section 1250
gain from the sale or exchange of an
interest in a partnership on line 10.
Report unrecaptured section 1250
gain from an estate, trust, regulated
investment company (RIC), or real
estate investment trust (REIT) on
line 11.
If the corporation reports only
unrecaptured section 1250 gain from
the sale or exchange of its business
assets, it will enter a dollar amount in
box 8c. If it reports the other two types
of unrecaptured gain, it will provide an
attached statement that shows the
amount for each type of unrecaptured
section 1250 gain.
If you have any foreign
source unrecaptured section
CAUTION
1250 gain, see the
instructions for box 14.
!
Box 9. Net Section 1231 Gain
(Loss)
The amount in box 9 is generally
passive if it is from a:
Rental activity, or
Trade or business activity in which
you did not materially participate.
However, an amount from a rental
real estate activity is not from a
passive activity if you were a real
estate professional (defined earlier)
and you materially participated in the
activity.
If the amount is either (a) a loss that
is not from a passive activity or (b) a
gain, report it on Form 4797, line 2,
column (g). Do not complete columns
(b) through (f) on line 2 of Form 4797.
Instead, enter “From Schedule K-1
(Form 1120S)” across these columns.
If the amount is a loss from a
passive activity, see Passive Loss
Limitations in the Instructions for Form
4797. Report the loss following the
Instructions for Form 8582 to figure
how much of the loss is allowed on
Form 4797. If the corporation had net
section 1231 gain (loss) from more
than one activity, it will attach a
statement that will identify the section
1231 gain (loss) from each activity.
!
CAUTION
box 14.
If you have any foreign
source net section 1231 gain
(loss), see the instructions for
Box 10. Other Income (Loss)
Code A. Other portfolio income
(loss). The corporation will report
portfolio income other than interest,
ordinary dividend, royalty, and capital
gain (loss) income, and attach a
statement to tell you what kind of
portfolio income is reported.
If the corporation held a residual
interest in a real estate mortgage
investment conduit (REMIC), it will
report on the statement your share of
REMIC taxable income (net loss) that
you report on Schedule E (Form
1040), line 38, column (d). The
statement will also report your share
of any “excess inclusion” that you
report on Schedule E (Form 1040),
line 38, column (c), and your share of
section 212 expenses that you report
on Schedule E (Form 1040), line 38,
column (e). If you itemize your
deductions on Schedule A (Form
1040), you may also deduct these
section 212 expenses as a
miscellaneous deduction subject to
the 2% limit on Schedule A (Form
1040), line 23.
Code B. Involuntary conversions.
This is your net loss from involuntary
conversions due to casualty or theft.
The corporation will give you a
statement that shows the amounts to
be reported on Form 4684, Casualties
and Thefts, line 34, columns (b)(i), (b)
(ii), and (c).
If there was a gain (loss) from a
casualty or theft to property not used
in a trade or business or for
income-producing purposes, the
corporation will provide you with the
information you need to complete
Form 4684.
Code C. Section 1256 contracts
and straddles. The corporation will
report any net gain or loss from
section 1256 contracts. Report this
amount on Form 6781, Gains and
Losses From Section 1256 Contracts
and Straddles.
Code D. Mining exploration costs
recapture. The corporation will give
you a statement that shows the
information needed to recapture
certain mining exploration costs
(section 617). See Pub. 535 for
details.
Code E. Other income (loss).
Amounts with code E are other items
of income, gain, or loss not included in
boxes 1 through 9 or in box 10 using
codes A through D. The corporation
should give you a description and the
amount of your share for each of
these items.
Report loss items that are passive
activity amounts to you following the
Instructions for Form 8582.
Code E items may include the
following.
Income from recoveries of tax
benefit items. A tax benefit item is an
amount you deducted in a prior tax
year that reduced your income tax.
Report this amount on Form 1040,
line 21, to the extent it reduced your
tax.
Gambling gains and losses.
1. If the corporation was not
engaged in the trade or business of
gambling, (a) report gambling
winnings on Form 1040, line 21 and
(b) deduct gambling losses to the
extent of winnings on Schedule A
(Form 1040), line 28.
2. If the corporation was engaged
in the trade or business of gambling,
(a) report gambling winnings on
line 28 of Schedule E (Form 1040)
and (b) deduct gambling losses (to
the extent of winnings) on Schedule E
(Form 1040), line 28, column (h).
Gain (loss) from the disposition of
an interest in oil, gas, geothermal, or
other mineral properties. The
corporation will attach a statement
that provides a description of the
property, your share of the amount
realized from the disposition, your
share of the corporation's adjusted
basis in the property (for other than oil
or gas properties), and your share of
the total intangible drilling costs,
development costs, and mining
exploration costs (section 59(e)
expenditures) passed through for the
property. You must figure your gain or
loss from the disposition by increasing
your share of the adjusted basis by
the intangible drilling costs,
development costs, or mine
exploration costs for the property that
you capitalized (that is, costs that you
did not elect to deduct under section
59(e)). Report a loss in Part I of Form
4797. Report a gain in Part III of Form
-8-
4797 in accordance with the
instructions for line 28. See
Regulations section 1.1254-4 for
details.
Net short-term capital gain (loss)
and net long-term capital gain (loss)
from Schedule D (Form 1120S) that is
not portfolio income. An example is
gain or loss from the disposition of
nondepreciable personal property
used in a trade or business activity of
the corporation. Report total net
short-term gain (loss) on Schedule D
(Form 1040), line 5. Report the total
net long-term gain (loss) on
Schedule D (Form 1040), line 12.
Current year section 108(i)
cancellation of debt income. The
corporation will provide your share of
the deferred amount that you must
include in income in the current tax
year under section 108(i)(1) or section
108(i)(5)(D)(i) or (ii).
Gain from the sale or exchange of
qualified small business (QSB) stock
(as defined in the Instructions for
Schedule D (Form 1040)) eligible for
the section 1202 exclusion. The
corporation should also give you (a)
the name of the corporation that
issued the QSB stock, (b) your share
of the corporation's adjusted basis
and sales price of the QSB stock, and
(c) the dates the QSB stock was
bought and sold. The following
additional limitations apply at the
shareholder level.
1. You must have held an interest
in the corporation when the
corporation acquired the QSB stock
and at all times thereafter until the
corporation disposed of the QSB
stock.
2. Your share of the eligible
section 1202 gain cannot exceed the
amount that would have been
allocated to you based on your
interest in the corporation at the time
the QSB stock was acquired.
See Form 8949, Schedule D (Form
1040), and the related instructions for
details on how to report the gain and
the amount of the allowable exclusion.
Gain eligible for section 1045
rollover (replacement stock
purchased by the corporation). The
corporation should also give you (a)
the name of the corporation that
issued the qualified small business
(QSB) stock, (b) your share of the
corporation's adjusted basis and sales
price of the QSB stock, and (c) the
Instructions for Schedule K-1 (Form 1120S)
dates the QSB stock was bought and
sold. To qualify for the section 1045
rollover:
1. You must have held an interest
in the corporation during the entire
period in which the corporation held
the QSB stock (more than 6 months
prior to the sale), and
2. Your share of the gain eligible
for the section 1045 rollover cannot
exceed the amount that would have
been allocated to you based on your
interest in the corporation at the time
the QSB stock was acquired.
See Form 8949, Schedule D (Form
1040), and the related instructions for
details on how to report the gain and
the amount of the allowable
postponed gain.
Gain eligible for section 1045
rollover (replacement stock not
purchased by the corporation). The
corporation should also give you (a)
the name of the corporation that
issued the qualified small business
(QSB) stock, (b) your share of the
corporation's adjusted basis and sales
price of the QSB stock, and (c) the
dates the QSB stock was bought and
sold. To qualify for the section 1045
rollover:
1. You must have held an interest
in the corporation during the entire
period in which the corporation held
the QSB stock (more than 6 months
prior to the sale),
2. Your share of the gain eligible
for the section 1045 rollover cannot
exceed the amount that would have
been allocated to you based on your
interest in the corporation at the time
the QSB stock was acquired, and
3. You must purchase other QSB
stock (as defined in the Instructions
for Schedule D (Form 1040)) during
the 60-day period that began on the
date the QSB stock was sold by the
corporation.
See Form 8949, Schedule D (Form
1040), and the related instructions for
details on how to report the gain and
the amount of the allowable
postponed gain.
Deductions
Box 11. Section 179 Deduction
Use this amount, along with the total
cost of section 179 property placed in
service during the year from other
sources, to complete Part I of Form
4562, Depreciation and Amortization.
The corporation will report on an
attached statement your share of the
cost of any qualified enterprise zone
property, qualified section 179
disaster assistance property, or
qualified real property it placed in
service during its tax year. Report the
amount from line 12 of Form 4562
allocable to a passive activity using
the Instructions for Form 8582. If the
amount is not a passive activity
deduction, report it on Schedule E
(Form 1040), line 28, column (i).
Box 12. Other Deductions
Contributions. Codes A through G.
The corporation will give you a
statement that shows charitable
contributions subject to the 100%,
50%, 30%, and 20% adjusted gross
income limitations.
If the corporation made a property
contribution, it will report on an
attached statement your share of both
the fair market value and adjusted
basis of the property. Use these
amounts to adjust your stock basis. If
the corporation made a qualified
conservation contribution, it will report
the fair market value of the underlying
property before and after the
donation, the type of legal interest
contributed, and a description of the
conservation purpose furthered by the
donation. If the corporation made a
contribution of real property located in
a registered historic district, it will
report any information you will need to
take a deduction.
For more details, see Pub. 526,
Charitable Contributions, and the
Instructions for Schedule A (Form
1040). If your contributions are subject
to more than one of the AGI
limitations, see Pub. 526.
Charitable contribution deductions
are not taken into account in figuring
your passive activity loss for the year.
Do not enter them on Form 8582.
Code A. Cash contributions (50%).
Report this amount, subject to the
50% AGI limitation, on line 16 of
Schedule A (Form 1040).
Code B. Cash contributions (30%).
Report this amount, subject to the
30% AGI limitation, on line 16 of
Schedule A (Form 1040).
Code C. Noncash contributions
(50%). If property other than cash is
contributed, and if the claimed
Instructions for Schedule K-1 (Form 1120S)
-9-
deduction for one item or group of
similar items of property exceeds
$5,000, the corporation must give you
a copy of Form 8283, Noncash
Charitable Contributions, to attach to
your tax return. Do not deduct the
amount shown on Form 8283. It is the
corporation's contribution. Instead,
deduct the amount identified by code
C, box 12, subject to the 50% AGI
limitation, on line 17 of Schedule A
(Form 1040).
If the corporation provides you with
information that the contribution was
property other than cash and does not
give you a Form 8283, see the
Instructions for Form 8283 for filing
requirements. Do not file Form 8283
unless the total claimed deduction for
all contributed items of property
exceeds $500.
Food inventory contributions.
The corporation will report on an
attached statement your share of
qualified food inventory contributions.
The food inventory contribution is not
included in the amount reported in
box 12 using code C. The corporation
will also report your share of the
corporation's net income from the
business activities that made the food
inventory contribution(s). Your
deduction for food inventory
contributions cannot exceed 10% of
your aggregate net income for the tax
year from the business activities from
which the food inventory contribution
was made (including your share of net
income from partnership or S
corporation businesses that made
food inventory contributions). Report
the deduction, subject to the 50% AGI
limitation, on line 17 of Schedule A
(Form 1040).
Code D. Noncash contributions
(30%). Report this amount, subject to
the 30% AGI limitation, on line 17 of
Schedule A (Form 1040).
Code E. Capital gain property to a
50% organization (30%). Report
this amount, subject to the 30% AGI
limitation, on line 17 of Schedule A
(Form 1040). See Special 30% Limit
for Capital Gain Property in Pub. 526.
Code F. Capital gain property
(20%). Report this amount, subject to
the 20% AGI limitation, on line 17 of
Schedule A (Form 1040).
Code G. Contributions (100%).
The corporation will report your share
of qualified conservation contributions
of property used in agriculture or
livestock production. This contribution
is not included in the amount reported
in box 12 using code C. If you are a
farmer or rancher, you qualify for a
100% AGI limitation for this
contribution. Otherwise, your
deduction for this contribution is
subject to a 50% AGI limitation.
Report this deduction on line 17 of
Schedule A (Form 1040). See Pub.
526 for more information on qualified
conservation contributions.
Code H. Investment interest expense. Enter this amount on Form
4952, line 1.
If the corporation has investment
income or other investment expense,
it will report your share of these items
in box 17 using codes A and B.
Include investment income and
expenses from other sources to figure
how much of your total investment
interest is deductible.
For more information on the special
provisions that apply to investment
interest expense, see Form 4952 and
Pub. 550.
Code I. Deductions—royalty income. Enter deductions allocable to
royalties on Schedule E (Form 1040),
line 19. For this type of expense, enter
“From Schedule K-1 (Form 1120S).”
These deductions are not taken
into account in figuring your passive
activity loss for the year. Do not enter
them on Form 8582.
Code J. Section 59(e)(2) expenditures. The corporation will show on
an attached statement the type and
the amount of qualified expenditures
for which you may make a section
59(e) election. The statement will also
identify the property for which the
expenditures were paid or incurred. If
there is more than one type of
expenditure, the amount of each type
will also be listed.
If you deduct these expenditures in
full in the current year, they are
treated as adjustments or tax
preference items for purposes of
alternative minimum tax. However,
you may elect to amortize these
expenditures over the number of
years in the applicable period rather
than deduct the full amount in the
current year. If you make this election,
these items are not treated as
adjustments or tax preference items.
Under the election, you can deduct
circulation expenditures ratably over a
3-year period. Research and
experimental expenditures and mining
exploration and development costs
can be amortized over a 10-year
period. Intangible drilling and
development costs can be amortized
over a 60-month period. The
amortization periods begin with the
month in which such costs were paid
or incurred.
Make the election on Form 4562. If
you make the election, report the
current year amortization of section
59(e) expenditures from Part VI of
Form 4562 on line 28 of Schedule E
(Form 1040). If you do not make the
election, report the section 59(e)(2)
expenditures on line 28 of Schedule E
(Form 1040) and figure the resulting
adjustment or tax preference item
(see Form 6251, Alternative Minimum
Tax—Individuals). Whether you
deduct the expenditures or elect to
amortize them, report the amount on a
separate line in column (h) of line 28 if
you materially participated in the
activity. If you did not materially
participate, follow the Instructions for
Form 8582 to figure how much of the
deduction can be reported in column
(f).
Code K. Deductions—portfolio (2%
floor). Amounts entered with code K
are deductions that are clearly and
directly allocable to portfolio income
(other than investment interest
expense and section 212 expenses
from a REMIC). Generally, you should
report these amounts on Schedule A
(Form 1040), line 23. See the
Instructions for Schedule A (Form
1040), lines 23 and 28, for details.
These deductions are not taken
into account in figuring your passive
activity loss for the year. Do not enter
them on Form 8582.
Code L. Deductions—portfolio
(other). Generally, you should report
these amounts on Schedule A (Form
1040), line 28. See the Instructions for
Schedule A (Form 1040), lines 23 and
28, for details.
These deductions are not taken
into account in figuring your passive
activity loss for the year. Do not enter
them on Form 8582.
Code M. Preproductive period expenses. You may be able to deduct
these expenses currently or you may
-10-
need to capitalize them under section
263A. See Pub. 225, Farmer's Tax
Guide, and Regulations section
1.263A-4 for details.
Code N. Commercial revitalization
deduction from rental real estate
activities. Follow the Instructions for
Form 8582 to figure how much of the
deduction can be reported on
Schedule E (Form 1040), line 28,
column (f).
Code O. Reforestation expense deduction. The corporation will provide
a statement that describes the
qualified timber property for these
reforestation expenses. The expense
deduction is limited to $10,000
($5,000 if married filing separately) for
each qualified timber property,
including your share of the
corporation's expense and any
reforestation expenses you separately
paid or incurred during the tax year.
If you did not materially participate
in the activity, use Form 8582 to figure
the amount to report on Schedule E
(Form 1040), line 28. If you materially
participated in the reforestation
activity, report the deduction on
line 28, column (h), of Schedule E
(Form 1040).
Code P. Domestic production activities information. The corporation
will provide you with a statement with
information that you must use to figure
the domestic production activities
deduction. Use Form 8903, Domestic
Production Activities Deduction, to
figure this deduction. For details, see
the Instructions for Form 8903.
Code Q. Qualified production activities income (QPAI). Report the
QPAI reported to you by the
corporation (in box 12 of
Schedule K-1) on line 7b of Form
8903. Report any portion of QPAI
attributable to oil-related activities
(identified on an attached statement)
on line 7a.
Code R. Employer's Form W-2 wages. Report the portion of Form W-2
wages reported to you by the
corporation (in box 12 of
Schedule K-1) on line 17 of Form
8903.
Code S. Other deductions.
Amounts with this code may include:
Itemized deductions that Form
1040 filers report on Schedule A
(Form 1040).
Instructions for Schedule K-1 (Form 1120S)
Soil and water conservation and
endangered species recovery
expenditures. See section 175 for
limitations on the amount you are
allowed to deduct.
Expenditures for the removal of
architectural and transportation
barriers to the elderly and disabled
that the corporation elected to treat as
a current expense. The deductions
are limited by section 190(c) to
$15,000 per year from all sources.
Interest expense allocated to
debt-financed distributions. The
manner in which you report such
interest expense depends on your use
of the distributed debt proceeds. If the
proceeds were used in a trade or
business activity, report the interest
on line 28 of Schedule E (Form 1040).
In column (a) enter the name of the
corporation and “interest expense.” If
you materially participated in the trade
or business activity, enter the interest
expense in column (h). If you did not
materially participate in the activity,
follow the Instructions for Form 8582
to figure the interest expense you can
report in column (f). Material
participation is defined earlier under
Passive Activity Limitations. If the
proceeds were used in an investment
activity, report the interest on Form
4952. If the proceeds are used for
personal purposes, the interest is
generally not deductible.
Contributions to a capital
construction fund (CCF). The
deduction for a CCF investment is not
taken on Schedule E (Form 1040).
Instead, you subtract the deduction
from the amount that would normally
be entered as taxable income on
line 43 of Form 1040. In the margin to
the left of line 43, enter "CCF" and the
amount of the deduction.
Penalty on early withdrawal of
savings. Report this amount on Form
1040, line 30.
Film and television production
expenses. The corporation will
provide a statement that describes the
film or television production
generating these expenses.
Generally, if the aggregate cost of the
production exceeds $15 million, you
are not entitled to the deduction. The
limitation is $20 million for productions
in certain areas (see section 181 for
details). If you did not materially
participate in the activity, use Form
8582 to determine the amount that
can be reported on Schedule E (Form
1040), line 28, column (f). If you
materially participated in the
production activity, report the
deduction on Schedule E (Form
1040), line 28, column (h).
Current year section 108(i) original
issue discount deduction. The
corporation will provide your share of
the corporation's original issue
discount deduction deferred under
section 108(i)(2)(A)(i) that is allowable
as a deduction in the current tax year
under section 108(i)(2)(A)(ii) or
section 108(i)(5)(D)(i) or (ii).
The corporation will give you a
description and the amount of your
share for each of these items.
Box 13. Credits
If you have credits that are passive
activity credits to you, you must
complete Form 8582-CR in addition to
the credit forms identified below. See
Passive Activity Limitations, earlier,
and the Instructions for Form
8582-CR for details.
In general, shareholders
whose only sources for a
credit listed on Form 3800,
Part III, are partnerships, S
corporations, estates, trusts, and
cooperatives, are not required to
complete the applicable credit form or
attach it to their return. Instead, they
can report the credit amounts
reported to them by these
pass-through entities directly on Form
3800, Part III, and enter the EIN of the
entity in column (b) of Part III.
However, when applicable, all
shareholders must complete and
attach the following credit forms to
their return.
Form 3468, Investment Credit
(Form 3800, line 1a).
Form 8864, Biodiesel and
Renewable Diesel Fuels Credit (Form
3800, line 1l).
TIP
See the Instructions for Form 3800 for
more details.
Codes A, B, C, and D. Low-income
housing credit. If section 42(j)(5)
applies, the corporation will report
your share of the low-income housing
credit using code A or code C,
depending on the date the building
was placed in service. If section 42(j)
(5) does not apply, your share of the
credit will be reported using code B or
code D, depending on the date the
building was placed in service. Any
Instructions for Schedule K-1 (Form 1120S)
-11-
allowable low-income housing credit
reported using code A or code B is
reported on line 4 of Form 8586,
Low-Income Housing Credit, or
line 1d of Form 3800 (see TIP,
earlier). Any allowable low-income
housing credit reported using code C
or code D is reported on line 11 of
Form 8586.
Keep a separate record of the
low-income housing credit from each
separate source so that you can
correctly figure any recapture of
low-income housing credit that may
result from the disposition of all or part
of your stock in the corporation. For
more information on recapture, see
the instructions for Form 8611,
Recapture of Low-Income Housing
Credit.
Code E. Qualified rehabilitation expenditures (rental real estate). The
corporation will report your share of
the qualified rehabilitation
expenditures and other information
you need to complete Form 3468
related to rental real estate activities
using code E. Your share of qualified
rehabilitation expenditures from
property not related to rental real
estate activities will be reported in
box 17 using code C. See the
Instructions for Form 3468 for details.
If the corporation is reporting
expenditures from more than one
activity, an attached statement will
separately identify the expenditures
from each activity.
Combine the expenditures (for
Form 3468 reporting) from box 13,
code E, and from box 17, code C. The
expenditures related to rental real
estate activities (box 13, code E) are
reported on Schedule K-1 separately
from other qualified rehabilitation
expenditures (box 17, code C)
because they are subject to different
passive activity limitation rules. See
the Instructions for Form 8582-CR for
details.
Code F. Other rental real estate
credits. The corporation will identify
the type of credit and any other
information you need to figure these
credits from rental real estate
activities (other than the low-income
housing credit and qualified
rehabilitation expenditures). These
credits may be limited by the passive
activity limitations. If the credits are
from more than one activity, the
corporation will identify the credits
from each activity on an attached
statement. See Passive Activity
Limitations, earlier, and the
Instructions for Form 8582-CR for
details.
Code G. Other rental credits. The
corporation will identify the type of
credit and any other information you
need to figure these rental credits.
These credits may be limited by the
passive activity limitations. If the
credits are from more than one
activity, the corporation will identify
the credits from each activity on an
attached statement. See Passive
Activity Limitations, earlier, and the
Instructions for Form 8582-CR for
details.
Code H. Undistributed capital
gains credit. Code H represents
taxes paid on undistributed capital
gains by a regulated investment
company or real estate investment
trust. Report these taxes on line 71 of
Form 1040, check box “a” for Form
2439, and enter “Form 1120S.”
Reduce the basis of your stock by this
tax.
Code I. Alcohol and cellulosic biofuel fuels credit. If this credit
includes the small ethanol producer
credit, the corporation will provide
additional information on an attached
statement. If no statement is attached,
report this amount on line 8 of Form
6478, Alcohol and Cellulosic Biofuel
Fuels Credit, or line 4c of Form 3800
(see TIP, earlier). If a statement is
attached, see the instructions for
Form 6478, line 8.
Code J. Work opportunity credit.
Report this amount on line 3 of Form
5884, Work Opportunity Credit, or
line 4b of Form 3800 (see TIP,
earlier).
Code K. Disabled access credit.
Report this amount on line 7 of Form
8826, Disabled Access Credit, or
line 1e of Form 3800 (see TIP,
earlier).
Code L. Empowerment zone and
renewal community employment
credit. Report this amount on line 3
of Form 8844, Empowerment Zone
and Renewal Community
Employment Credit, or line 3 of Form
3800 (see TIP, earlier).
Code M. Credit for increasing research activities. Report this
amount on line 37 of Form 6765,
Credit for Increasing Research
Activities, or line 1c of Form 3800 (see
TIP, earlier).
Code N. Credit for employer social
security and Medicare taxes.
Report this amount on line 5 of Form
8846, Credit for Employer Social
Security and Medicare Taxes Paid on
Certain Employee Tips, or line 4f of
Form 3800 (see TIP, earlier).
Code O. Backup withholding. This
is your share of the credit for backup
withholding on dividends, interest
income, and other types of income.
Include this amount in the total you
enter on Form 1040, line 62, and
attach a copy of your Schedule K-1 to
your tax return.
Code P. Other credits. On a
statement attached to Schedule K-1,
the corporation will identify the type of
credit and any other information you
need to figure credits other than those
reported with codes A through O.
Most credits identified by code P will
be reported on Form 3800 (see TIP,
earlier).
Credits that may be reported with
code P include the following.
Unused investment credit from the
qualifying advanced coal project
credit, qualifying gasification project
credit, or qualifying advanced energy
project credit allocated from
cooperatives (Form 3468, line 9).
Unused investment credit from the
rehabilitation credit or energy credit
allocated from cooperatives (Form
3468, line 13).
New hire retention credit (Form
5884-B).
Orphan drug credit (Form 8820).
Qualified plug-in electric vehicle
credit (Form 8834).
Renewable electricity, refined coal,
and Indian coal production credit. The
corporation will provide a statement
showing separately the amount of
credit from Part I and Part II of Form
8835.
Indian employment credit (Form
8845).
Biodiesel and renewable diesel
fuels credit. If this credit includes the
small agri-biodiesel producer credit,
the corporation will provide additional
information on an attached statement.
If no statement is attached, report this
amount on line 9 of Form 8864. If a
statement is attached, see the
instructions for Form 8864, line 9.
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New markets credit (Form 8874).
Credit for small employer pension
plan startup costs (Form 8881).
Credit for employer-provided
childcare facilities and services (Form
8882).
Low sulfur diesel fuel production
credit (Form 8896).
Qualified railroad track
maintenance credit (Form 8900).
Distilled spirits credit (Form 8906).
Nonconventional source fuel credit
(Form 8907).
Energy efficient home credit (Form
8908).
Energy efficient appliance credit
(Form 8909).
Alternative motor vehicle credit
(Form 8910).
Alternative fuel vehicle refueling
property credit (Form 8911).
Qualified zone academy bond
credit. Report this amount on Form
8912.
Clean renewable energy bond
credit. Report this amount on Form
8912.
New clean renewable energy bond
credit. Report this amount on Form
8912.
Midwestern tax credit bond credit.
Report this amount on Form 8912.
Qualified energy conservation bond
credit. Report this amount on Form
8912.
Build America bond credit. Report
this amount on Form 8912.
Qualified school construction bond
credit. Report this amount on Form
8912.
Mine rescue team training credit
(Form 8923).
Agricultural chemicals security
credit (Form 8931).
Credit for employer differential
wage payments (Form 8932).
Carbon dioxide sequestration credit
(Form 8933).
Qualified plug-in electric drive
motor vehicle credit (Form 8936).
Credit for small employer health
insurance premiums (Form 8941).
General credits from an electing
large partnership. Report these
credits on Form 3800, line 1bb.
Box 14. Foreign
Transactions
Codes A through N. Use the
information identified by codes A
through N, code Q, and any attached
Instructions for Schedule K-1 (Form 1120S)
statements to figure your foreign tax
credit.
operations, illegal bribes, kickbacks,
etc.
If you have any qualified
dividends, capital gains
CAUTION
(including any capital gain
distributions), capital losses, net
section 1231 gains, or net section
1231 losses, you may have to make
certain adjustments to those amounts
before taking them into account on
line 1a, line 5, or line 18 of Form 1116,
Foreign Tax Credit.
Code Q. Other foreign transactions. On a schedule attached to
Schedule K-1, the corporation will
report any other information on foreign
transactions that you may need using
code Q.
!
For details, see Form 1116 and its
separate instructions. Also see Pub.
514, Foreign Tax Credit for
Individuals.
Codes O and P. Extraterritorial income exclusion.
1. Corporation did not claim the
exclusion. If the corporation reports
your share of foreign trading gross
receipts (code O) and the
extraterritorial income exclusion (code
P), the corporation was not entitled to
claim the exclusion because it did not
meet the foreign economic process
requirements. You may still qualify for
your share of this exclusion if the
corporation's foreign trading gross
receipts for the tax year were $5
million or less. To qualify for this
exclusion, your foreign trading gross
receipts from all sources for the tax
year also must have been $5 million
or less. If you qualify for the exclusion,
report the exclusion amount in
accordance with the instructions for
box 1, 2, or 3, whichever applies. See
Form 8873, Extraterritorial Income
Exclusion, for details.
2. Corporation claimed the
exclusion. If the corporation reports
your share of foreign trading gross
receipts but not the amount of the
extraterritorial income exclusion, the
corporation met the foreign economic
process requirements and claimed
the exclusion when figuring your
share of corporate income. You also
may need to know your share of
foreign trading gross receipts from
this corporation to determine if you
met the $5 million or less exception
discussed above for purposes of
qualifying for an extraterritorial income
exclusion from other sources.
Note. Upon request, the corporation
should furnish you a copy of the
corporation's Form 8873 if there is a
reduction for international boycott
Box 15. Alternative
Minimum Tax (AMT) Items
Use the information reported in box 15
(as well as your adjustments and tax
preference items from other sources)
to prepare your Form 6251 or
Schedule I (Form 1041), Alternative
Minimum Tax—Estates and Trusts.
Code A. This amount is your share of
the corporation's post-1986
depreciation adjustment. If you are an
individual shareholder, report this
amount on line 18 of Form 6251.
Code B. This amount is your share of
the corporation's adjusted gain or
loss. If you are an individual
shareholder, report this amount on
line 17 of Form 6251.
Code C. This amount is your share of
the corporation's depletion
adjustment. If you are an individual
shareholder, report this amount on
line 9 of Form 6251.
Codes D and E. Oil, gas, & geothermal properties—gross income
and deductions. The amounts
reported on these lines include only
the gross income (code D) from, and
deductions (code E) allocable to, oil,
gas, and geothermal properties
included in box 1 of Schedule K-1.
The corporation should have attached
a statement that shows any income
from or deductions allocable to such
properties that are included in boxes 2
through 12, 16, and 17 of
Schedule K-1. Use the amounts
reported here and any other reported
amounts to help you figure the net
amount to enter on line 26 of Form
6251.
Code F. Other AMT items. Enter the
information on the statement attached
by the corporation on the applicable
lines of Form 6251 or Schedule I
(Form 1041).
Box 16. Items Affecting
Shareholder Basis
Code A. Tax-exempt interest income. Report on your return, as an
Instructions for Schedule K-1 (Form 1120S)
-13-
item of information, your share of the
tax-exempt interest received or
accrued by the corporation during the
year. Individual shareholders include
this amount on Form 1040, line 8b.
Generally, you must increase the
basis of your stock by this amount.
Code B. Other tax-exempt income.
Generally, you must increase the
basis of your stock by the amount
shown, but do not include it in income
on your tax return.
Code C. Nondeductible expenses.
The nondeductible expenses paid or
incurred by the corporation are not
deductible on your tax return.
Generally, you must decrease the
basis of your stock by this amount.
Code D. Property distributions.
Reduce the basis of your stock (as
explained earlier) by distributions, not
reported on Form 1099-DIV, of
property or money. This amount will
include any amounts included in
income with respect to new clean
renewable energy, qualified energy
conservation, qualified school
construction, build America, or (for
bonds issued after October 3, 2008)
qualified zone academy bonds. If
these distributions exceed the basis of
your stock, the excess is treated as
capital gain from the sale or exchange
of property and is reported on Form
8949 and Schedule D (Form 1040).
Code E. Repayment of loans from
shareholders. If these payments are
made on a loan with a reduced basis,
the repayments must be allocated in
part to a return of your basis in the
loan and in part to the receipt of
income. See Regulations section
1.1367-2 for information on reduction
in basis of a loan and restoration in
basis of a loan with a reduced basis.
See Rev. Rul. 64-162, 1964-1 (Part 1)
C.B. 304 and Rev. Rul. 68-537,
1968-2 C.B. 372, for details.
Box 17. Other Information
Code A. Investment income.
Report this amount on line 4a of Form
4952.
Code B. Investment expenses.
Report this amount on line 5 of Form
4952.
Code C. Qualified rehabilitation expenditures (other than rental real
estate). The corporation will report
your share of qualified rehabilitation
expenditures and other information
you need to complete Form 3468 for
property not related to rental real
estate activities in box 17 using code
C. Your share of qualified
rehabilitation expenditures related to
rental real estate activities is reported
in box 13 using code E. See the
Instructions for Form 3468 for details.
If the corporation is reporting
expenditures from more than one
activity, the attached statement will
separately identify the expenditures
from each activity.
Combine the expenditures (for
Form 3468 reporting) from box 13,
code E and from box 17, code C. The
expenditures related to rental real
estate activities (box 13, code E) are
reported on Schedule K-1 separately
from other qualified rehabilitation
expenditures (box 17, code C)
because they are subject to different
passive activity limitation rules. See
the Instructions for Form 8582-CR for
details.
Code D. Basis of energy property.
If the corporation provides an
attached statement for code D, use
the information on the statement to
complete lines 12a-d, 12f, 12g, 12i,
12j, 12l, 12m, 12o, and 12q-s of Form
3468.
Codes E and F. Recapture of
low-income housing credit. The
corporation will identify by code E
your share of any recapture of a
low-income housing credit from its
investment in partnerships to which
the provisions of section 42(j)(5)
apply. All other recapture of
low-income housing credits will be
identified by code F.
Keep a separate record of each
type of recapture so that you will be
able to correctly figure any credit
recapture that may result from the
disposition of all or part of your
corporate stock. For details, see Form
8611.
Code G. Recapture of investment
credit. The corporation will provide
any information you need to figure
your recapture tax on Form 4255,
Recapture of Investment Credit. See
the Form 3468 on which you took the
original credit for other information
you need to complete Form 4255.
You may also need Form 4255 if
your proportionate stock interest in
the corporation is reduced by more
than one-third after you were
allocated part of an investment credit.
Code H. Recapture of other credits. On a statement attached to
Schedule K-1, the corporation will
report any information you need to
figure the recapture of other credits
including the new markets credit,
qualified plug-in electric vehicle credit,
Indian employment credit, credit for
employer-provided childcare facilities
and services, alternative motor
vehicle credit, alternative fuel vehicle
refueling property credit, and qualified
plug-in electric drive motor vehicle
credit.
Code I. Look-back interest—completed long-term contracts. The
corporation will report any information
you need to figure the interest due or
to be refunded under the look-back
method of section 460(b)(2) on certain
long-term contracts. Use Form 8697,
Interest Computation Under the
Look-Back Method for Completed
Long-Term Contracts, to report any
such interest.
Code J. Look-back interest—income forecast method. The
corporation will report any information
you need to figure the interest due or
to be refunded under the look-back
method of section 167(g)(2) for
certain property placed in service after
September 13, 1995, and depreciated
under the income forecast method.
Use Form 8866, Interest Computation
Under the Look-Back Method for
Property Depreciated Under the
Income Forecast Method, to report
any such interest.
Code K. Dispositions of property
with section 179 deductions. The
corporation will report your share of
gain or loss on the sale, exchange, or
other disposition of property for which
a section 179 expense deduction was
passed through to shareholders with
code K. If the corporation passed
through a section 179 expense
deduction for the property, you must
report the gain or loss, if any, and any
recapture of the section 179 expense
deduction for the property on your
income tax return (see the Instructions
for Form 4797 for details). The
corporation will provide all the
following information.
1. Description of the property.
2. Date the property was acquired
and placed in service.
-14-
3. Date of the sale or other
disposition of the property.
4. Your share of the gross sales
price or amount realized.
5. Your share of the cost or other
basis plus the expense of sale.
6. Your share of the depreciation
allowed or allowable.
7. Your share of the section 179
expense deduction (if any) passed
through for the property and the
corporation's tax year(s) in which the
amount was passed through.
To figure the depreciation allowed
or allowable for Form 4797, line 22,
add to the amount from item 6 above
the amount of your share of the
section 179 expense deduction,
reduced by any unused carryover of
the deduction for this property. This
amount may be different than the
amount of section 179 expense you
deducted for the property if your
interest in the corporation has
changed.
8. If the disposition is due to a
casualty or theft, any information you
need to complete Form 4684.
9. If the sale was an installment
sale made during the corporation's tax
year, any information you need to
complete Form 6252, Installment Sale
Income. The corporation will
separately report your share of all
payments received for the property in
the following tax years. See the Form
6252 instructions for details.
Code L. Recapture of section 179
deduction. The corporation will
report your share of any recapture of
section 179 expense deduction if
business use of any property for
which the section 179 expense
deduction was passed through to
shareholders dropped to 50% or less
before the end of the recapture
period. If this occurs, the corporation
must provide the following
information.
1. Your share of the depreciation
allowed or allowable (not including the
section 179 expense deduction).
2. Your share of the section 179
expense deduction (if any) passed
through for the property and the
corporation's tax year(s) in which the
amount was passed through. Reduce
this amount by the portion, if any, of
your unused (carryover) section 179
expense deduction for this property.
Instructions for Schedule K-1 (Form 1120S)
Code M. Section 453(l)(3) information. The corporation will report any
information you need to figure the
interest due under section 453(l)(3)
with respect to the disposition of
certain timeshares and residential lots
on the installment method. If you are
an individual, report the interest on
Form 1040, line 60. Enter “453(l)(3)”
and the amount of the interest on the
dotted line to the left of line 60. See
section 453(l)(3) for details on how to
figure the interest.
Code N. Section 453A(c) information. The corporation will report any
information you need to figure the
interest due under section 453A(c)
with respect to certain installment
sales. If you are an individual, report
the interest on Form 1040, line 60.
Enter “453A(c)” and the amount of the
interest on the dotted line to the left of
line 60. See section 453A(c) for
details on how to figure the interest.
Code O. Section 1260(b) information. The corporation will report any
information you need to figure the
interest due under section 1260(b). If
the corporation had gain from certain
constructive ownership transactions,
your tax liability must be increased by
the interest charge on any deferral of
gain recognition under section
1260(b). Report the interest on Form
1040, line 60. Enter “1260(b)” and the
amount of the interest on the dotted
line to the left of line 60. See section
1260(b) for details, including how to
figure the interest.
Code P. Interest allocable to production expenditures. The
corporation will report any information
you need relating to interest you are
required to capitalize under section
263A for production expenditures.
See Regulations sections 1.263A-8
through 1.263A-15 for details.
Code Q. CCF nonqualified withdrawals. The corporation will report
your share of nonqualified
withdrawals from a capital
construction fund (CCF). These
withdrawals are taxed separately from
your other gross income at the highest
marginal ordinary income or capital
gains tax rate. Attach a statement to
your federal income tax return to show
your computation of both the tax and
interest for a nonqualified withdrawal.
Include the tax and interest on Form
1040, line 60. On the dotted line to the
left of line 60, enter the amount of tax
and interest and “CCF.”
Code R. Depletion information—oil
and gas. This is your share of gross
income from the property, share of
production for the tax year, etc.,
needed to figure your depletion
deduction for oil and gas wells. The
corporation should also allocate to
you a proportionate share of the
adjusted basis of each corporate oil or
gas property. See Pub. 535 for details
on how to figure your depletion
deduction.
Reduce the basis of your stock by
the amount of this deduction up to the
extent of your adjusted basis in the
property.
Code S. Amortization of reforestation costs. The corporation will
provide a statement identifying your
share of the amortizable basis of
reforestation expenditures paid or
incurred before October 23, 2004.
The corporation will report your share
of the amortizable basis of
reforestation expenditures for 2004.
Your amortizable basis of
reforestation expenditures for each
tax year from all properties is limited
to $10,000 ($5,000 if married filing
separately), including your share of
the corporation's expenditures and
any qualified reforestation
expenditures you separately paid or
incurred. To figure your allowable
amortization, see section 194 and
Pub. 535.
Follow the Instructions for Form
8582 to report a deduction allocable
to a passive activity. If you materially
participated in the reforestation
activity, report the deduction on
line 28, column (h), of Schedule E
(Form 1040).
Code T. Section 108(i) information.
If the corporation made a section
108(i) election, it will provide all the
information you will need to determine
your share of the following.
Deferred cancellation of debt
income.
Deferred original issue discount
deduction.
Code U. Other information. The
corporation will report:
1. Any information you need to
complete a disclosure statement for
reportable transactions in which the
corporation participates. If the
corporation participates in a
Instructions for Schedule K-1 (Form 1120S)
-15-
transaction that must be disclosed on
Form 8886, Reportable Transaction
Disclosure Statement, both you and
the corporation may be required to file
Form 8886 for the transaction. The
determination of whether you are
required to disclose a transaction of
the corporation is based on the
category(s) under which the
transaction qualifies for disclosure
and is determined by the corporation.
You may have to pay a penalty if you
are required to file Form 8886 and do
not do so. See the Instructions for
Form 8886 for details.
2. Gross farming and fishing
income. If you are an individual
shareholder, report this income, as an
item of information, on Schedule E
(Form 1040), Part V, line 42. Do not
report this income elsewhere on Form
1040.
For a shareholder that is an estate
or trust, report this income to the
beneficiaries, as an item of
information, on Schedule K-1 (Form
1041). Do not report it elsewhere on
Form 1041.
3. Excess farm loss limitation. If
the corporation has deductions
attributable to a farming activity, it will
provide a statement showing the
aggregate gross income or gain and
the aggregate deductions from the
farming activity that you need to figure
any excess farm loss limitation. It will
also provide information on any
applicable subsidy it receives that
would trigger the excess farm loss
limitation. See section 461(j) and Pub.
225 for details.
4. The amount included in gross
income with respect to qualified zone
academy bonds issued before
October 4, 2008. Income with respect
to these qualified zone academy
bonds cannot be used to increase
your stock basis. Because this
amount is already included in income
elsewhere on Schedule K-1, you must
reduce your stock basis by this
amount. See line 3 of the Worksheet
for Figuring a Shareholder's Stock
Basis.
5. The amount included in gross
income with respect to clean
renewable energy bonds. Income with
respect to clean renewable energy
bonds cannot be used to increase
your stock basis. Because this
amount is already included in income
elsewhere on Schedule K-1, you must
reduce your stock basis by this
amount. See line 3 of the Worksheet
for Figuring a Shareholder's Stock
Basis.
6. The amount included in gross
income with respect to Midwestern tax
credit bonds. Income with respect to
Midwestern tax credit bonds cannot
be used to increase your stock basis.
Because this amount is already
included in income elsewhere on
Schedule K-1, you must reduce your
stock basis by this amount. See line 3
of the Worksheet for Figuring a
Shareholder's Stock Basis.
7. Qualified investment in
qualifying advanced coal project
property. Use the amounts the
corporation provides you to figure the
amounts to report on Form 3468, lines
5a, 5b, and 5c.
8. Qualified investment in
qualifying gasification property. Use
the amounts the corporation provides
you to figure the amounts to report on
Form 3468, lines 6a and 6b.
9. Qualified investment in
qualifying advanced energy project
credit property. Use the amounts the
corporation provides you to figure the
amounts to report on Form 3468,
line 7.
10. Inversion gain. The corporation
will provide a statement showing the
amounts of each type of income or
gain that is included in inversion gain.
The corporation has included
inversion gain in income elsewhere on
Schedule K-1. Inversion gain is also
reported under code U because your
taxable income and alternative
minimum taxable income cannot be
-16-
less than the inversion gain. Also,
your inversion gain (a) is not taken
into account in figuring the net
operating loss (NOL) for the tax year
or the NOL that can be carried over to
each tax year, (b) may limit your
credits, and (c) is treated as income
from sources within the U.S. for the
foreign tax credit. See section 7874
for details.
11. Any other information you may
need to file your return not shown
elsewhere on Schedule K-1.
The corporation should give you a
description and the amount of your
share for each of these items.
Instructions for Schedule K-1 (Form 1120S)
| File Type | application/pdf |
| File Title | 2012 Shareholder's Instructions for Schedule K-1 (Form 1120S) |
| Subject | Shareholder's Instructions for Schedule K-1 (Form 1120S), Shareholder's Share of Income, Deductions, Credits, etc. (For Shareho |
| Author | W:CAR:MP:FP |
| File Modified | 2013-01-31 |
| File Created | 2013-01-30 |