Form Mhpe Draft - Mobile Home Park Exclusion 2011 Page 2
Download a blank fillable Form Mhpe Draft - Mobile Home Park Exclusion 2011 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form Mhpe Draft - Mobile Home Park Exclusion 2011 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2Form MHPE General Instructions
What is a tenants’ or mobile home park residents’
Your share is based on the same proportion used by you
association?
to report your income and loss from the entity for Montana
income tax purposes.
“Tenants’ or mobile home park residents’ association”
means a group of six or more tenants who reside in
When the exclusion is made by your partnership or S
a mobile home park, have organized for the purpose
corporation, remember to complete the information on the
of eventual purchase of the mobile home park, have
top of the form that identifies the entity’s name, federal
established bylaws of the association, and have obtained
employer identification number and your percentage.
the approval vote of at least 51% of the residents of the
What information do I have to include with my tax
mobile home park to purchase the mobile home park as
return when I claim this exclusion?
defined in 15-31-163, Montana Code Annotated (MCA).
Individuals and C corporations filing paper returns must
Who can claim this exclusion?
include a completed Form MHPE. Partnerships and S
An individual, a C corporation, an S corporation, a
corporations filing paper information returns must include
partnership or a disregarded entity qualifies for the
a separate statement identifying each owner and their
exclusion of all or a portion of the gain recognized.
proportionate share, in addition to a completed Form
MHPE.
How do I claim my exclusion when I am a partner or
shareholder in a partnership or an S corporation?
Your partnership or S corporation will report the exclusion
on its informational tax return and provide you with your
share of the exclusion on a Montana Schedule K-1.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial