Form Gr-1040 - Grand Rapids Individual Return - 2010 Page 6
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6Taxpayer's name
Taxpayer's SSN
FORM GR-1040, PAGE 6
LINE 8 - EXCLUSIONS AND ADJUSTMENTS TO OTHER GAINS AND LOSSES
RESIDENT AND NONRESIDENT RETURNS
1.
Nonresident's gains and losses on property located outside of Grand Rapids
2.
Portion of gains and losses occurring prior to 7/1/1967 that are not included in line 1 (Attach a schedule that identifies and
shows the calculation for each gain or loss included on this line)
3.
Total excludible nonresident other gains and losses (Add lines 1 and 2, enter here and on Form GR-1040, page 1, line 8,
Column B)
*
Remember, deferred gains from property located in Grand Rapids or property sold while a resident are taxable.
*
Attach a copy of federal Form 4797 and all supporting schedules to return to explain. (Form 4797 must identify property
LINE 11 - EXCLUSIONS AND ADJUSTMENTS TO INCOME FROM RENTAL REAL ESTATE,
ROYALTIES, PARTNERSHIPS, S CORPORATIONS, TRUSTS, ETC.
RESIDENTS
No exclusions or adjustments allowed on a resident return.
Attach a copy of each Schedule K-1 (1120-S) pages 1 and 2 to your return.
Attach copy of federal Schedule E.
NONRESIDENTS
1.
Rental income (loss) from real estate located outside of Grand Rapids
2.
Royalties on property located outside of Grand Rapids
3.
Partnership income (loss) from partnership business activity outside of Grand Rapids
4.
Subchapter S corporation income (loss)
5.
Trust income (loss) for activities located outside of Grand Rapids
6.
Total excludible income from rental real estate, royalties, partnerships, S corporations, trusts, etc. (Add lines 1 through 5,
enter here and on Form GR-1040, page 1, line 11, Column B)
Attach a schedule detailing the complete address of each piece of rental real estate.
Attach a schedule detailing name and ID number of each partnership and amount of adjustment.
Attach a schedule detailing name and ID number of each Sub. S Corp. and amount of adjustment.
Attach copy of federal Schedule E.
LINE 13 - EXCLUSIONS AND ADJUSTMENTS TO FARM INCOME
For use by nonresidents to compute excludible Farm income. No exclusions or adjustments to farm income are allowed on a resident return.
FARM INCOME
Farm 1
1. Net profit (or loss) from farm (From federal Schedule F)
2. Farm allocation percentage (Enter the amount from line 12
for the farm)
3. Allocated net profit (loss) from farm (Line 1 times line 12
for the farm)
4.
Excludible net profit (loss) from farm (Subtract Line 3 from
line 1, enter here and on page 1, line 13, Column B)
COLUMN 1
COLUMN 2
COLUMN 3
FARM ALLOCATION FORMULA
EVERYWHERE
IN GRAND RAPIDS
PERCENTAGE
Average net book value of real and tangible personal property
6.
(Column 2 divided
by column 1)
7.
Gross rents paid on real property multiplied by 8
8.
Total property
%
9.
Total wages, salaries and other compensation of all employees
%
10.
Gross receipts from sales made or services rendered
%
11.
Total percentages (Add the percentages computed in column 3)
%
12.
Farm allocation percentage (Divide line 11 by the number of factors used, default is 100%)
%
*
In determining the average percentage, if a factor does not exist, you must divide the total of the percentages by the number of factors used.
*
If you are authorized to use a special formula, attach a copy of the administrator's approval letter and attach a schedule detailing calculation.
*
Use a separate Business Allocation Formula for each separate business (Federal Schedule C)
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Net operating loss from prior year are reported on Line 16, Other income.
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