Form Ri 1096-Pt - Rhode Island Pass-Through Withholding Return And Transmittal - 2008 Page 2
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1
2RHODE ISLAND
2008
RI 1096-PT
PASS-THROUGH WITHHOLDING
RETURN AND TRANSMITTAL
Page 2
Adjustment to Income for Gain on
Assets Held for More than Five (5) Years
Rhode Island source income of nonresident members net of modifications ..........................................................................
1.
1.
Amount of capital gains from assets held more than five (5) years included in the
2.
2.
amount on line 1 ............................................................................................................
3.
Divide the amount on line 2 by 3 ....................................................................................
3.
4.
Subtract the amount on line 3 from the amount on line 2 .......................................................................................................
4.
5.
Subtract the amount on line 4 from the amount on line 1. Enter here and on page 1, line 1, column B................................
5.
NOTE:
Due to a recent law change effective January 1, 2007, a new lower rate is appli-
cable for long term capital gains on assets held for more than five (5) years.
This change applies only to individuals and pass-through entities to the extent
the entities’ members are individuals.
Complete the above worksheet to calculate the adjustment to income for capital
gains from assets held for more than five (5) years.
Line by Line Instructions
Line 1: Enter the total amount of Rhode Island source income attributable to non-
resident members.
Line 2: Enter the amount of capital gains from assets held for more than five (5)
years included in the total Rhode Island source income on line 1
Line 3: Divide the amount on line 2 by 3.
Line 4: Subtract the amount on line 3 from the amount on line 2.
Line 5: Subtract the amount on line 4 from the amount on line 1. Enter the amount
on line 5 and on page 1, line 1, column B.
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