Form 1120s Schedule K-1 - Nonresident Shareholder Only - 1998
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IA 1120S Schedule K-1 1998
d e p a r t m e n t o f Reve nu e a n d F i n a n c e
Nonresident Shareholder Only
Corporation: Name ______________________________
Shareholder:
Name _____________________________
Federal I.D. _________________________
Federal I.D. ________________________
(1)
(2)
(3)
Shareholder’s Pro Rata Share Items
Federal K-1
Iowa Business
Amount
Amount
Activity Ratio
Appor tionable
to Iowa
1. Ordinary income (loss) from trade or business activities ....................................................... 1 _______________________________________________
2. Net income (loss) from rental real estate activities ................................................................. 2 _______________________________________________
3. Net income (loss) from other rental activities .......................................................................... 3 _______________________________________________
4. Portfolio income (loss)
(a) Interest income ................................................................................................................... 4a _______________________________________________
(b) Dividend income ................................................................................................................. 4b _______________________________________________
(c) Royalty income ..................................................................................................................... 4c _______________________________________________
(d) Net short-term capital gain (loss) ..................................................................................... 4d _______________________________________________
(e) Net long-term capital gain (loss) [line 4e(2), Federal Schedule K-1] ............................ 4e _______________________________________________
(f) Other portfolio income (loss) ............................................................................................... 4f _______________________________________________
5. Net gain (loss) under IRC section 1231 (other than due to casualty or theft) ...................... 5 _______________________________________________
(line 5b, Federal Schedule K-1)
6. Other income ............................................................................................................................... 6 _______________________________________________
7. Charitable contributions ............................................................................................................. 7 _______________________________________________
8. Section 179 expense deduction ................................................................................................ 8 _______________________________________________
9. Expenses related to portfolio income (loss) ............................................................................. 9 _______________________________________________
10. Other deductions ..................................................................................................................... 10 _______________________________________________
11. a) Interest expense on investment debts ............................................................................ 11a _______________________________________________
b) (1) Investment income included on lines 4a through 4f above .............................. 11b (1) _______________________________________________
(2) Investment expenses included on line 9 above ................................................. 11b (2) _______________________________________________
12. Federal credits, lines 12a through 12e .................................................................................. 12 _______________________________________________
13. Other credits and expenditures .............................................................................................. 13 _______________________________________________
14. a) Depreciation adjustment on property placed in service after 1986 ............................. 14a _______________________________________________
b) Adjusted gain or loss ........................................................................................................ 14b _______________________________________________
c) Depletion (other than oil and gas) .................................................................................... 14c _______________________________________________
d) (1) Gross income from oil, gas or geothermal properties ............................................ 14d _______________________________________________
(2) Deductions allocable to oil, gas or geothermal properties ..................................... 14d _______________________________________________
e) Other adjustments and tax preference items ................................................................. 14e _______________________________________________
15. Enter any supplemental information that is required to be reported separately to each shareholder for filing with Federal form 1120S Schedule K-1.
Attach additional schedules if more space is needed. _____________________________________________________________________________
_____________________________________________________________________________________________________________________________
_____________________________________________________________________________________________________________________________
_____________________________________________________________________________________________________________________________
NONRESIDENT MODIFICATIONS SCHEDULE
16. Shareholder’s all-source modifications .................................................................................................................................................... 16 _______________
17. Iowa business activity ratio ....................................................................................................................................................................... 17 _______________
18. Shareholder’s Iowa-source modifications ............................................................................................................................................... 18 _______________
IOWA NONRESIDENT K-1 INSTRUCTIONS
This schedule apportions the nonresident shareholder’s K-1 items to Iowa with the apportioned amounts appearing in column (3) of the form. The
nonresident’s all-source modifications from Schedule K column (5) of the IA 1120S are allocated to Iowa on lines 16 through 18 of the Iowa Schedule
K-1. There is no Iowa Schedule K-1 for Iowa residents. A copy of the Federal K-1 will suffice for Iowa resident shareholders.
Column 1, lines 1 through 14(e): Enter the same amounts as shown on your Federal K-1.
Column 2, lines 1 through 14(e): Enter the Iowa single factor business activity ratio. For S corporations doing business wholly in Iowa this ratio will be
100%. For S corporations doing business within and without Iowa the single factor business activity ratio is based on Iowa sales or gross receipts to
total sales or gross receipts. Attach a copy of the worksheet showing this computation.
Column 3, lines 1 through 14(e): Multiply the amounts in column (1) by the percentage in column (2) and enter the product in column (3). This is the
amount apportionable to Iowa.
Line 16: Enter the nonresident shareholder’s all-source modifications as shown in column (5), Schedule K of the IA 1120S.
Line 17: Enter the Iowa single factor business activity ratio.
Line 18: Multiply line 16 by the percentage on line 17 and enter here. If this entry is a positive amount, also enter it on line 14 of your IA 126 form. If
the entry is a negative amount, enter it on line 24 of your IA 126 form.
42-004b (7/98)
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