Form L-1065 - Partnership Income Tax Return Page 2
ADVERTISEMENT
1
2SCHEDULE A - ALLOCABLE PARTNERSHIP INCOME
1.
ORDINARY INCOME (OR LOSS) FROM PAGE 1, LINE 22, U.S. PARTNERSHIP RETURN OF INCOME, FORM 1065
$
2.
ADD INTEREST AND OTHER COSTS INCURRED IN CONNECTION WITH THE PRODUCTION OF INCOME EXEMPT FROM LAPEER INCOME
TAX
$
3.
ADD CITY OF LAPEER INCOME TAX, IF DEDUCTED IN DETERMINING INCOME ON FEDERAL FORM 1065
$
4.
DEDUCT SECTION 179 DEPRECIATION (FED SCH. K. LINE 12) AND OTHER DEDUCTIONS ALLOWED (ATTACH EXPLANATION)
$
5.
TOTAL ADJUSTED INCOME SUBJECT TO ALLOCATION - (ADD LINES 1, 2 AND 3 AND SUBTRACT LINE 4)
$
SCHEDULE B - NON-BUSINESS INCOME AND EXCLUSIONS
COLUMN 1
COLUMN 2
COLUMN 3
COLUMN 4
COLUMN 5
RESIDENT
NON-RESIDENT
TAXABLE
TAXABLE RESIDENT
ATTACH COPY OF FEDERAL SCHEDULE K (1065)
FEDERAL FORM
TOTAL NON-
PARTNERS'
PARTNER'S
NONRESIDENT
PARTNER'S SHARE
1065 REFERENCE
BUSINESS INCOME
EXCLUSIONS OF
EXCLUSIONS OF
PARTNER'S SHARE
ATTACH SCHEDULES TO EXPLAIN ALL EXCLUSIONS
OF COL. 1
COL. 1
COL. 1
OF COL.1
INTEREST AND DIVIDENDS
1.
Interest Income
Sch. K, Line 5
2.
Dividend income
Sch.K, Line 6a
SALE OR EXCHANGE OF PROPERTY (SEE INSTRUCTIONS)
3.
Net short term capital gain (loss)
Sch K, Line 8
4.
Net long term capital gain(loss)
Sch K, Line 9a
5.
Net Section 1231 gain (loss)
Sch K, Line 10
RENT AND ROYALTIES (IF NON-BUSINESS INCOME INCLUDES
RENTAL REAL ESTATE, ATTACH COPY OF FEDERAL FORM 8825)
6.
Net income (loss) from rental real estate activities
Sch K, Line 2
7.
Net income (loss) from other rental activities
Sch K, Line 3c
8.
Royalty Income
Sch K, Line 7
OTHER INCOME
9.
Other income
Sch K, Line 11
10.
TOTALS (Add lines 1 through 9)
SCHEDULE C - DISTRIBUTION TO PARTNERS
COLUMN 1
COLUMN 2
COLUMN 3
COLUMN 4
COLUMN 5
COLUMN 6a
COLUMN 6b
COLUMN 7
NONRESIDENT
GUARANTEED
INCOME SUBJECT
ALLOCATED
RESIDENT PARTNER'S
TOTAL INCOME (Add
NONRESIDENT
PARTNER'S
PAYMENTS TO
TO ALLOCATION
BUSINESS INCOME
NONBUSINESS INCOME
Columns 5, 6a and 6b) (Enter
ALLOCATION
NONBUSINESS
PARTNERS
(Add column 1 and
(Column 3 times % in
(total equals Sch. B Column
here and on page 1, column
ADJUSTED
PERCENTAGE PER
INCOME (Total
(Fed.1065, line 10)
Column 2)
Column 4)
3, Line 10)
1)
BUSINESS INCOME
SCH.D (Enter 100%
equals Sch. B Column
PARTNER
(Schedule A, Line 5)
for resident partners)
5, Line 10)
a.
b.
c.
d.
e.
TOTALS
SCHEDULE D - BUSINESS ALLOCATION FORMULA
COLUMN 1
COLUMN 2
COLUMN 3
LOCATED EVERYWHERE
LOCATED IN LAPEER
PERCENTAGE
1
a.
AVERAGE NET BOOK VALUE OF REAL AND TANGIBLE PERSONAL PROPERTY
(Column 2 divided
b.
by column 1)
GROSS ANNUAL RENT PAID FOR REAL PROPERTY ONLY MULTIPLIED BY 8
c.
TOTALS (ADD LINES 1a. and 1b.)
2.
TOTAL WAGES, SALARIES, COMMISSIONS AND OTHER COMPENSATION OF ALL EMPLOYEES
3.
GROSS RECEIPTS FROM SALES MADE OR SERVICES RENDERED
4.
TOTAL PERCENTAGES-ADD THE PERCENTAGES COMPUTED IN COLUMN 3, LINES 1c, 2 AND 3 (A PERCENTAGE MUST BE COMPUTED FOR EACH LINE)
5.
BUSINESS ALLOCATION PERCENTAGE (DIVIDE LINE 4 BY THE NUMBER OF FACTORS) ENTER HERE AND ON SCHEDULE C , COL 4 (SEE NOTE BELOW)
IN DETERMINING THE BUSINESS ALLOCATION PERCENTAGE (LINE 5), A FACTOR SHALL BE EXCLUDED FROM THE COMPUTATION ONLY WHEN SUCH FACTOR DOES NOT EXIST
NOTE 3
ANYWHERE INSOFAR AS THE TAXPAYER'S BUSINESS OPERATION IS CONCERNED, IN SUCH CASES, THE SUM OF THE REMAINING PERCENTAGES SHALL BE DIVIDED BY THE
NUMBER OF FACTORS ACTUALLY USED.
IN THE CASE OF A TAXPAYER AUTHORIZED BY THE INCOME TAX ADMINISTRATOR TO USE ONE OF THE SPECIAL FORMULAE, ATTACH AN EXPLANATION AND USE THE LINES PROVIDED BELOW:
a.
c.
NUMERATOR
PERCENTAGE (a. DIVIDED BY b.) ENTER HERE AND ON SCH C, COL. 4
b.
d.
DENOMINATOR
DATE OF ADMINISTRATOR'S APPROVAL LETTER
L-1065 PAGE 2
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial