SCHEDULE C – INCOME FROM PARTNERSHIP - 2008
A COPY OF YOUR U.S. PARTNERSHIP RETURN MUST BE ATTACHED, THIS SCHEDULE IS OPTIONAL.
For the Year Ending _____________________________
A. Name as shown on page 1 of Form AL-1065__________________________________________________________________
B. Principal Business Activity_________________________________________________________________________________
C. Business Location _______________________________________________________________________________________
(Number and street or rural route)
(City or Post Office)
(State)
(Zip Code)
D. Telephone_______________________ Name of Person in Charge of Records__________________________________
_______
ORDINARY INCOME FROM BUSINESS
1.
Gross receipts after deducting allowances, rebates and returns----------------------------------------------------------------------
1.
$
2.
Inventory at beginning of year (if different than last year's closing inventory, attach explanation)--
2.
$
3.
Cost of merchandise purchased_______________________, less any items withdrawn
from business for personal use________________ ---------------------------------------------------
3.
4.
Cost of labor (do NOT include amounts paid to partners) ----------------------------------------------------
4.
5.
Material and supplies --------------------------------------------------------------------------------------------------
5.
6.
Other costs (explain in attached statement) ---------------------------------------------------------------------
6.
7.
Total of lines 2 through 6 -----------------------------------------------------------------------------------------
7.
8.
Inventory at end of year -----------------------------------------------------------------------------------------------
8.
9.
Cost of goods sold (line 7 less line 8) --------------------------------------------------------------------------------------------------------
9.
10.
Gross profit (subtract line 9 from line 1) -----------------------------------------------------------------------------------------------------
10.
11.
Miscellaneous income (do not include any items included on lines 25 through 31) ---------------------------------------------
11.
12.
Total income (add lines 10 and 11) ------------------------------------------------------------------------------------------------------
12.
OTHER BUSINESS DEDUCTIONS
13.
Salaries and wages NOT included on line 4 (exclude any paid to partners) ----------------------------
13.
$
14.
Payments to partners - salaries and interest- enter here and on Sch. E, Col 2 -------------------------
14.
15.
Rent on business property --------------------------------------------------------------------------------------------
15.
16.
Losses of business property (attach statement listing items and location) -------------------------------
16.
17.
Depreciation --------------------------------------------------------------------------------------------------------------
17.
18.
Taxes ----------------------------------------------------------------------------------------------------------------------
18.
19.
Other business expenses (attach statement) --------------------------------------------------------------------
19.
20.
Total of lines 13 through 19 ----------------------------------------------------------------------------------------------------------------
20.
21.
Ordinary income from business - line 12 less line 20 ------------------------------------------------------------------------------------
21.
22.
City of Albion and Michigan income tax if included in line 20 above -----------------------------------------------------------------
22.
23.
Interest and other costs included in line 20 which were incurred in connection with the production of tax
exempt income or partner's personal expenses which were charged to the business --------------------------------------
23.
24.
Total adjusted ordinary income from business for the year (add lines 21 through 23). Enter here and on
Sch. E, Col. 1 ----------------------------------------------------------------------------------------------------------------------------------
24.
OTHER PARTNERSHIP INCOME OR LOSS
(taxable or nontaxable depending on residency of partners)
25.
Dividends $__________________, Interest $__________________ (enter total of dividends and interest) -------------
25.
26.
Income (or loss) from other partnerships and other income ---------------------------------------------------------------------------
26.
27.
Net gain (or loss) from sale or exchange of property other than capital assets (See Note) ------------------------------------
27.
28.
Net short term gain (or loss) from sale or exchange of capital assets (See Note) -----------------------------------------------
28.
29.
Net long term gain (or loss) from sale or exchange of capital assets (See Note) ------------------------------------------------
29.
30.
Net gain (or loss) from sale or exchange of property under Section 1231 (See Note) ------------------------------------------
30.
31.
Rents $________________, Royalties $___________________ (enter total of rents and royalties) -----------------------
31.
32.
Total partnership income to account for (add lines 24 through 31) --------------------------------------------------------------
32.
*NOTE: The amounts on lines 27, 28, 29 and 30 should agree with the amounts reported on Schedule D of your federal partnership form 1065.
SCHEDULE B AND E ARE TO BE USED TO COMPUTE THE
TAXABLE PORTION OF THE INCOME OF THE PARTNERSHIP AS SHOWN ON LINE 32 ABOVE